This is a case initiated by investment funds that are still litigating against the country for the default of 2001. The assets to be seized would remain strictly confidential.
The New York Court of Appeals This Friday I discussed the way to execute embargoes of property against Argentinabased on a case initiated by investment funds. These are the Master Value and Trinity Investments funds that, among others, are still litigating against the country for the 2001 default.
This Friday’s hearing is public and will deal with assets that could be seized by the country, according to an official note issued on January 30.
The New York Court also anticipated that there will be details regarding certain assets that could be seized but that they would remain strictly confidential.
The consultant Sebastian Maril I consider that “Finally we will have a very good idea, although not exact, about which assets the United States Justice Department authorized but declared confidential due to their importance.”
In 2020, the funds driving the lawsuit achieved a ruling in favor of Judge Loretta Preska, of the Southern District Court of New York, through which it ruled that the country had to pay a total of US$224.2 million to two funds that did not enter into the 2005 or 2010 exchanges, and did not close either. an agreement in 2016.
Argentina appealed that ruling, but there are still creditors trying to find seizable assets of the country to collect the defaulted securities from 2001.
Source: Ambito
