Tuesday, 1 December 2015
Last updated 8 hours ago
Jun 1 2009 | 10:23am ET
A U.S. hedge fund battling Argentina over bonds it defaulted on seven years ago has won its bid to have the country held in contempt of court.
A federal judge last week granted Aurelius Capital Partners’ motion to hold both Argentina and its social security agency in contempt for failing to produce documents ordered by the judge. Aurelius is suing Argentina and the agency, Anses, over the 2002 default.
U.S. District Judge Thomas Griesa had previously ruled that Anses and the Argentina government were one and the same, rejecting Argentina’s argument that they are separate entities. Griesa has frozen some of the state-run pensions administrator’s assets in the United States, which are managed by Anses.
“The Republic has the power to see that Anses provides” the documents about transactions Anses made through a private brokerage.
A lawyer for Argentina told the court that its economic ministry had asked Anses for the information, but had been rebuffed.
“Anses, consistent with its view that it is not subject to the jurisdiction of this Court and otherwise has sovereign immunity protections as it were, said no,” Carmine Boccuzzi said.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…