Griesa grants vulture funds hearing to discuss motion for sanctions

United States District Judge Thomas Griesa has allowed a request by so called “vulture” funds suing Argentina over its defaulted bonds, granting a new hearing for Wednesday 12 to discuss sanctions against Buenos Aires for failing to provide information on Argentine assets held in the US (discovery rights).

In a document released today, the New York magistrate responded a demand filed by the hedge funds back in June, paving the way for the “discovery sanctions motion” to be addressed in a meeting scheduled for Wednesday.

Argentine authorities have ratified that it is no condition to grant information on such assets which are protected by the Foreign Sovereign Immunities Act (FSIA).

The entities targeted by vulture funds are the Central Bank of the Republic of Argentina (BCRA), the Bank of the Argentine Nation (BNA), the Argentine Energy Public Limited Company (ENARSA) and the YPF energy company.
    [buenosairesherald.com]
8/8/15
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