{"id":3293,"date":"2014-04-26T11:21:38","date_gmt":"2014-04-26T01:21:38","guid":{"rendered":"http:\/\/sjaroundthebay.org\/?p=3293"},"modified":"2014-04-26T11:21:38","modified_gmt":"2014-04-26T01:21:38","slug":"argentina-and-predatory-hedge-funds-square-off-at-supreme-court-from-jubilee-usa","status":"publish","type":"post","link":"https:\/\/sjaroundthebay.org\/?p=3293","title":{"rendered":"Argentina and Predatory Hedge Funds Square Off at Supreme Court – from Jubilee USA"},"content":{"rendered":"\n\t\t\t\t
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Posted: 24 Apr 2014 11:38 AM PDT<\/div>\n

by Jubilee USA Staff<\/p>\n

On Monday,\u00a0the Supreme Court hears arguments between Argentina and holdouts who refused two debt restructuring deals after Argentina defaulted on its debts in 2001. The Supreme Court Justices will determine if predatory hedge fund, NML Capital can obtain information from US Banks that reveal Argentina’s holdings in order to target those assets for debt payments. The Obama Administration is siding with Argentina in the case. In the summer, the Supreme Court will also decide if it will hear a much broader case between Argentina and the hedge funds that impacts extreme poverty, official US debt policy and country debt restructuring.<\/p>\n

“The Supreme Court hearing this initial case offers some indication that they are interested in hearing the broader case,” said Eric LeCompte, Executive Director of Jubilee USA Network. “The court’s decision on the broader case will impact financial stability and people living in extreme poverty.”\u00a0<\/p>\n

In late March, Jubilee USA Network and\u00a079 religious and development groups<\/strong><\/a>\u00a0filed an\u00a0Amicus (“friend-of-the-court”) brief<\/strong><\/a>\u00a0with the Supreme Court urging them to take the broader case with global implications. In addition to Jubilee USA’s filing, economist Joseph Stiglitz and the governments of Brazil and Mexico also filed on Argentina’s side. The G24, the International Monetary Fund, World Bank, United Nations and the US government continue to raise concerns with predatory holdout behavior.<\/p>\n

“There’s a global consensus that his behavior hurts poor people and legitimate investors,” said LeCompte who\u00a0serves on several UN expert groups working to stem predatory behavior. “If the Supreme Court takes the broader case and decides for Argentina, we’ll see a lot of this extreme behavior end.”<\/p>\n

See Jubilee USA’s release on its Supreme Court Filing:<\/strong> http:\/\/www.jubileeusa.org\/press\/press-item\/article\/religious-and-anti-poverty-groups-file-with-supreme-court-in-argentinanml-capital-case.html<\/strong><\/a><\/p>\n

Read Jubilee USA’s Amicus Supreme Court filing: http:\/\/www.jubileeusa.org\/fileadmin\/13-990__-991_Amici_Brief_filed_3-24-14.pdf<\/a><\/strong><\/p>\n

<\/strong>For more information on the case and a timeline: http:\/\/www.jubileeusa.org\/truth-about-debt\/vulturefunds\/argentina.html<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"\n\t\t\t\t

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Posted: 24 Apr 2014 11:38 AM PDT <\/p>\n

by Jubilee USA Staff<\/p>\n

On Monday, the Supreme Court hears arguments between Argentina and holdouts who refused two debt restructuring deals after Argentina defaulted on its debts in 2001. The Supreme Court Justices will determine if predatory hedge fund, NML Capital can obtain information from US Banks […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-3293","post","type-post","status-publish","format-standard","hentry","category-messages","odd"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t