ARGENTINA

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May 30, 2008 "The Economy in 2008: Challenges and Risks in A More Difficult External Environment." Presentation by Miguel A. Kiguel (Econviews) at EMTA Forum in Buenos Aires.

"Regulatory Developments: The European Perspective." Presentation by Ruari Ewing (ICMA) at EMTA Forum in Buenos Aires.

May 12, 2008 EMTA Forum - Buenos Aires To Be Held on May 30, 2008. CLICK HERE to Register.
April 21, 2008 Various Retail Bondholders v. Argentina.
April 3, 2008 CMS Gas Transmission Co. v. Argentina.
December 3, 2007 Various Retail Bondholders v. Argentina.
October 28, 2007 Cristina Fernandez de Kirchner wins Argentine Presidency in First Round, Market reaction from Goldman Sachs, Lehman Brothers and Merrill Lynch.
October 16, 2007

Calculations for Payments on Venezuela Oil Obligations Announced.

October 1, 2007 EM Ltd. and NML Capital v. Argentina Supreme Court Writ of Certiorari Denied.
September 26, 2007 Capital Ventures International v. Argentina.
September 10, 2007 German Federal Constitutional Court Decision Relating to Argentina.
July 18, 2007 EM Ltd. and NML Capital v. Argentina Brief in Opposition of Petition for Writ of Certiorari.

EM Ltd. and NML Capital v. Argentina Central Bank Brief in Opposition of Petition for Writ of Certiorari.

EM Ltd. and NML Capital v. Argentina Reply Brief in Support of Petition for Writ of Certiorari.

June 4, 2007 Special Presentation: "The Argentina Precedent: Will Others Follow?"
 
May 31, 2007 EM Ltd. and NML Capital v. Argentina Petition for Writ of Certiorari.
May 16, 2007 EMTA to Hold a Special Presentation “The Argentina Precedent: Will Others Follow?" in NYC on June 4, 2007. CLICK HERE to Register.
March 14, 2007 EM Ltd. and NML Capital v. Argentina Motion for Notice of Offering.

EM Ltd. and NML Capital v. Argentina Motion to Stay.

February 13, 2007 Citibank, as Fiscal Agent, Receives Notice from 25% of Par and Discount Brady Bondholders to Accelerate the Debt.
February 9, 2007 EM Ltd. and NML Capital v. Argentina Southern District of New York Transcript.
February 7, 2007 Calculation Formula for Argentina GDP Payments.
January 31, 2007 Banca Arner v. Argentina Amended Judgment in SDNY Court.
January 24, 2007 Petition for Rehearing and Rehearing En Banc in NML Capital v. Argentina.
January 5, 2007 Second Circuit Decision in EM Ltd. and NML Capital v. Argentina.
November 28, 2006 Argentina GDP Warrants Record Date of December 14 (Other Than for YEN Warrants, Which Have a Record Date of December 1) and Payment Date of December 15 Expected. Trades are ‘Ex-Dividend’ on December 12 (Other Than for YEN Warrants Trades, Which Are 'Ex-Dividend' on November 29). Note that Euroclear Changed the Record Date for the Euro-Denominated Warrants (XS0209139244) and the Yen-Denominated Warrants (ARARGE03E675) to November 30, 2006.
November 8, 2006 EM Ltd. and NML Capital v. Argentina.
October 6, 2006 EM Ltd. and NML Capital v. Argentina.
October 5, 2006

EMTA Special Seminar on "Enforcement Under the Foreign Sovereign Immunities Act”:

October 2, 2006 Standard & Poor's Raises Argentina's Long-Term Foreign Currency Rating to B+.
September 28, 2006 Stipulation Order in EM Ltd. and NML Suits Against Argentina.
September 20, 2006

EM Ltd. and NML Capital Suits Against Argentina Previously Under Seal.

August 9, 2006 EMTA Special Seminar on "'Partial' Sovereign Restructurings and their Implications" hosted by Clifford Chance to be held in London on October 12, 2006.
August 1, 2006 Fitch Upgrades Argentina's Ratings on Performing Foreign Currency Debt Issued Under Foreign Law to B-.
July 27, 2006 World Bank Arbitration Tribunal (ICSID) Decision in Azurix Corp. v. Argentina.

Barboni et al v. Argentina.

July 14, 2006 EMTA to Host a Special Seminar on "'Partial' Sovereign Restructurings and Their Implications: Enforcement Under the Foreign Sovereign Immunities Act” in New York City on October 5, 2006.
June 7, 2006 EMTA Special Seminar on "'Partial' Sovereign Restructurings and Their Implications”:
June 5, 2006 EM Ltd. v. Argentina.
March 27, 2006 Second Circuit Decision in Capital Ventures International v. Argentina.
March 23, 2006 Standard & Poor's Upgrades Argentina's Long-Term Rating to B.
March 2, 2006 Italian Bondholder Association (TFA) Announces ICSID Proceeding Against Argentina (in Italian).
February 24, 2006 Southern District Court of NY Decisions in Suits Against Argentina by Greylock, Exposito and Colella and FFI Fund.

German Court Decision Against Argentina: Press Release (German), Press Release (Unofficial Translation) and Judgment (Unofficial Translation).

January 19, 2006 Greylock v. Province of Mendoza Second Circuit Affirmation of District Court Decision.
December 13, 2005 GMO Emerging Country Debt Investment Fund and GMO Emerging Country Debt Fund v. Argentina.
November 21, 2005 EMTA Primer for the Detachment of Argentina GDP-Linked Securities, Which Includes Market Practice Recommendations, Detachment Procedures and Timelines.
August 2, 2005 Forward Trading in Argentina GDP-Linked Securities: EMTA Memo, Forms of Confirmation and Bilateral Netting Agreement.
July 19, 2005 Fontana v. Argentina and Applestein v. Buenos Aires, Second Circuit Decisions Re: Bondholder Standing to Sue.
June 10, 2005 Argentina's Ministry of Economy Issues Statement on Conclusion of Debt Exchange.
June 3, 2005 Argentina Bonds Credited by Euroclear to Bondholder Accounts; Settlement Date for W/I Trades is June 9.
June 2, 2005 Argentina's Ministry of Economy Issues Statement on Conclusion of Debt Exchange.

Primer for Settlement of W/I Trades in Argentina Par and Discount Bonds.

Memorandum of Law in Support of Plaintiff's Motion to Dismiss Counterclaim in NML Capital v. Argentina.

June 1, 2005 Standard & Poor's Upgrades Argentina's Long-Term Issuer Credit Rating to B-.
May 27, 2005 Euroclear Fact Sheet for Argentina Closing.
May 25, 2005 EM Ltd. and NML Capital Motion for Recall of Mandate and Stay of Vacatur.
May 24, 2005 District Court Upholds Vacation of Attachment Order and Restraining Notice in Argentina Litigation.
May 23, 2005 Motion for Immediate Issuance of Mandate Affirmed by Second Circuit in EM Ltd. and NML Capital v. Argentina Litigation.
May 13, 2005 EM Ltd. and NML Capital v. Argentina Second Circuit Decision.

Argentina to Challenge Unfavorable ICSID Ruling in First of Several FDI Investor Suits Brought Before World Bank Tribunal. Commentary from CSFB and Goldman Sachs.

April 26, 2005 EM Ltd. and NML Capital v. Argentina Oral Argument Schedule in Second Circuit.
April 20, 2005

EM Ltd. v. Argentina Reply Brief.

NML Capital v. Argentina Reply Brief.

Amicus Brief by the Clearing House Association on Behalf of Argentina in Connection with the EM Ltd. Litigation.

Amicus Brief by the Clearing House Association on Behalf of Argentina in Connection with the NML Capital Litigation.

Amicus Brief by Argentina Pension Fund on Behalf of Argentina.

Amicus Brief by Fintech Advisory Inc. on Behalf of Argentina in Connection with the EM Ltd. Litigation.

Amicus Brief by EMCA in Connection with NML Capital v. Argentina Litigation.

April 13, 2005 EM Ltd. v. Argentina Appellee Brief.
April 7, 2005 NML Capital v. Argentina Appellate Brief.
April 6, 2005 EM Ltd. v. Argentina Appellate Brief.
April 4, 2005 Second Circuit Motions Panel Granted the NML and EM Ltd. Motions for an Expedited Appeal in Litigation Against Argentina. Proposed Filing Schedule: Appellants' Brief and Appendix Due on April 6; Appellee's Brief in Opposition Due on April 13; Reply Brief Due on April 20; Appeal Ready for Argument Week of April 25.
April 1, 2005

Certification Orders in NML Capital and EM Ltd. v. Argentina Actions.

New Class Action Certifications in Litigation Against Argentina.
March 31, 2005 Transcript of Oral Argument in NML Capital v. Argentina.
March 29, 2005

Attachment Proceedings in NML Capital v. Argentina.

Restraining Notice in EM Ltd. v. Argentina.

March 18, 2005 Market Practice Recommendations for the Trading and Settlement of Argentina Par and Discount Bonds.

Argentina Announces Results of Exchange Offer.

March 8, 2005 Argentina Ministry of Finance Commentary on its Debt Exchange.

Revised Recommended Argentina WI Confirmation Forms for ARS Par and Discount Bonds.

March 3, 2005 Revised Recommended Argentina WI Trading Documentation: EMTA Memorandum, WI Confirmation Forms and Bilateral Netting Agreement.
March 1, 2005

Recommended Argentina WI Trading Documentation: EMTA Memorandum, WI Confirmation Forms and Bilateral Netting Agreement.

February 24, 2005 Commentary from JP Morgan on Belgian Legal Reform's Effects on Argentine Debt Restructuring.
February 16, 2005 EMTA Advisory Regarding Trading in Existing Argentina Bonds.

Rabbi Jacob Joseph School v. Province of Mendoza Opinion.

February 15, 2005 GCAB: ICSID Position Paper.
February 10, 2005 Greylock v. Province of Mendoza Opinion.
January 28, 2005

Rabbi Jacob Joseph School v. Province of Mendoza. Plaintiff's and Defendant's Memoranda of Law in Support of their Respective Motions for Leave to Join Additional Defendants.

January 24, 2005 EM Sovereign Bond Chart for Argentina (Prospectus Supplement).
January 20, 2005
Citibank, as Fiscal Agent, Requests FRBNY, as Collateral Agent, to Release Interest Collateral on Argentina's USD Discount Series L Bonds. Record Date of February 4, 2005 and Payment Date of February 11 Expected.
January 13, 2005

Market Reacts to the Argentine Debt Restructuring Offer. Commentary from CSFB, Goldman and JP Morgan.

January 12, 2005 EM Sovereign Bond Chart for Argentina (Post-Effective Amendment No. 1).
January 6, 2005 Greylock v. Province of Mendoza. Plaintiff's and Defendant's Memoranda of Law in Opposition to their Respective Motions for Summary Judgment.
December 20, 2004 Greylock v. Province of Mendoza. Plaintiff's and Defendant's Memoranda of Law in Support of their Respective Motions for Summary Judgment.
November 24, 2004 Transcript of Urban v. Argentina Action.

Court Decides on Argentina Prospectus Language. Commentary from CSFB.

November 23, 2004

Transcript of Urban v. Argentina Action.

Bank of New York Resigns as Exchange Agent for Argentine Restructuring. Commentary from Citigroup and JP Morgan.

November 19, 2004 Transcript of Urban v. Argentina Action.
November 18, 2004 Court Allows Argentina Restructuring to Proceed. Commentary from Citigroup.
November 16, 2004 Argentina’s Briefs in Response to Urban and Retail Bondholder Suits.
November 10, 2004 GCAB Files Amicus in Support of Motion to Enjoin Argentine Exchange Offer.
November 8, 2004 Retail Bondholder Suits Against Argentina.
November 2, 2004 Memorandum of Law in Urban v. Argentina (Requesting Preliminary Injunction).

Citibank, as Fiscal Agent, Requests FRBNY, as Collateral Agent, to Release Interest Collateral on Argentina’s USD Discount Series L Bonds. Record Date of November 17 and Payment Date of November 24 Expected.

October 21, 2004 EM Sovereign Bond Charts for Brazil and Mendoza (a Province of Argentina).
October 20, 2004 Second Legal Action Brought Against Argentine Province of Mendoza.
October 12, 2004 Opinion in Greylock v. Province of Mendoza.
October 6, 2004 Mendoza Province of Argentina Responds to Legal Action.
September 30, 2004

Legal Action Brought Against Mendoza Province of Argentina.

September 7, 2004 Second Circuit Affirms EM Limited's $700 Million Judgment Against Argentina.
August 4, 2004 Global Committee of Argentina Bondholders (GCAB) White Paper and Press Release Relating to Roadshows in US, Europe and Asia.
July 15, 2004 Press Release Issued by the Republic of Argentina.
July 14, 2004 Global Committee of Argentina Bondholders Roadshow in New York -- Presentation and Analyst Comments:
July 9, 2004 Global Committee of Argentina Bondholders Announce July 13-22 Road Show Schedules for US and Europe. Click Here for US Schedule. Click Here for Europe Schedule.
July 2, 2004 Press Release Issued by the Republic of Argentina Announcing the Filing with the SEC of a Shelf Registration.
April 1, 2004 The Pari Passu Clause -- What is Fair Treatment? (Michael M. Chamberlin).
March 27, 2004 "An Update on Argentina," Presentation Made By Guillermo Nielsen, Secretary of Finance of Argentina at the IADB Meeting in Lima. Click Here for English Version. Click Here for Spanish Version.
March 24, 2004 Argentina's March 10, 2004 Letter of Intent to the IMF.
March 10, 2004 Transcript of Conference on March 5, 2004 Before Judge Griesa Regarding the Freezing of Bank Deposits.
February 9, 2004 Citibank, as Fiscal Agent, Requests FRBNY, as Collateral Agent, to Release Interest Collateral on Argentina’s USD Discount Series L Bonds. Record Date of February 24 and Payment Date of March 2 Expected.
January 30, 2004 Amended Opinion in District Court Decision in Urban v. The Republic of Argentina (Granting Class Action Certification).
January 26, 2004 Transcript of Conference on January 15, 2004 Before Judge Griesa Regarding Pari Passu.
January 15, 2004

EMCA Letter States its Views on Pari Passu Question Before Judge Griesa.

January 13, 2004

U.S. Statement of Interest, New York Fed Amicus Curiae Brief, New York Clearing House Amicus Curiae Brief, Plaintiffs' Memorandum of Law and Argentina Memorandum of Law in the Macrotecnic International Corp. and EM Ltd. v. Argentina District Court Case.

January 6, 2004 District Court Decision in Urban v. The Republic of Argentina (Granting Class Action Certification).
December 4, 2003 EMTA’s Annual Meeting Focuses on Argentina.
  • EMTA Seeks to Promote Better Dialogue
    [Excerpt from Michael Chamberlin's Remarks]
  • ABC Describes their Counterproposal;
    Announces Agreement in Principles among Creditors to Form Global Steering Committee to Negotiate with Argentina.
  • Secretary Nielsen Senses Common Ground with Creditors; Reaffirms that Argentina will not Make Unilateral Offer. While declining to discuss in any detail his December 3 meeting with ABC, or his reaction to the ABC Counterproposal, Secretary Nielsen did note his sense that Argentina and its Creditors were "getting closer to common ground" in their restructuring dialogue. Click on the following links for Mr. Nielsen's speech. Click Here for English Version. Click Here for Spanish Version.
December 3, 2003 Argentina Bondholders Committee presents Counter Guidelines to Argentina.
October 1, 2003 Citibank Notice on Argentina’s Floating Rate Bonds.
September 20, 2003 Argentina's Ministry of Economy Releases IMF Agreement.
September 18, 2003

District Court Decisions in EM Ltd. v.The Republic of Argentina. 

September 3, 2003 Citibank, as Fiscal Agent, Requests FRBNY, as Collateral Agent, to Release Interest Collateral on Argentina’s USD Discount Series L Bonds. Record Date of September 18 and Payment Date of September 25 Expected.
August 18, 2003 Fiscal Agent Notice that No Collateral Remains for Interest Payments on Argentina’s Par Bonds (Including May 31, 2003 Interest Payment).
June 26, 2003 Argentine Ministry of Economy Issues Communiqué to Its Creditors.
May 15, 2003 Press Release Issued by the Argentine Ministry of Economy Regarding Formation of Investor Groups.
May 1, 2003 EMTA, with the Assistance of the Participating Banks, Successfully Launched its Automated Version of the ARS Industry Survey on April 23, 2003. CLICK HERE for Daily and Historical Survey Results and Reference Bank Quotes.
February 28, 2003 Argentine Ministry of Economy Issues Communiqué to Its Creditors.
January 31, 2003

Citibank, as Fiscal Agent, Requests FRBNY, as Collateral Agent, to Release Interest Collateral on Argentina’s Par Bonds and Discount Bonds. Record Dates of February 26 and Payment Dates of March 5 Expected.

January 27, 2003 Argentina Releases IMF Letter of Intent, including Cover Letter, Memorandum of Economic Policies, Quantitative Performance Targets, and Technical Memo of Understanding.
January 21, 2003 Argentina Bondholders Committee Issues Press Release on Argentina's Agreement with the IMF.
January 16, 2003 Argentina Announces It Has Reached an Agreement with the IMF for a Stand-By Program.
December 20, 2002 Amendments to Annex A Argentine Peso Settlement Rate Options; Adoption of revised EMTA Template Terms for ARS Non-Deliverable FX Transactions; Revision of EMTA ARS Industry Survey Methodology; and Adoption of a new EMTA ARS Indicative Survey Rate Methodology.
December 2, 2002 Exchange of Argentine Provincial Bonds.
August 15, 2002 Citibank, as Fiscal Agent, Requests FRBNY, as Collateral Agent, to Release Interest Collateral on Argentina’s Discount Bonds. Record Date of September 6 and Payment Date of September 13 Expected.
August 9, 2002 Citibank, as Fiscal Agent, Requests FRBNY, as Collateral Agent, to Release Interest Collateral on Argentina's Par Bonds; 25% Threshold Still Not Met for Discount Bonds. Record Date of September 3 and Payment Date of September 10 Expected for Par Bonds.
July 29, 2002 Press Release Issued by the Republic of Argentina.
July 11, 2002 Revised Primer on Interest Collateral for Argentina's USD Par and Discount Bonds, Supplemented to Include the Euroclear DACE Notice for Liquidation of Collateral.
June 28, 2002 Primer on Interest Collateral for Argentina's USD Par and Discount Bonds.
June 10, 2002 Citibank Notice on Argentina's Discount and Par Bonds.
May 3, 2002 Argentina Bondholders' Committee Issues Principles for the Restructuring of Argentina International Bonds.
April 23, 2002 New ARS Market Practice and Template Terms for a 30-Day Deferral Period.
April 10, 2002 Letter to the Republic of Argentina's Bondholders from Finance Secretary Lisandro Barry.
April 5, 2002 Citibank Notice on Argentina's FRBs.
March 8, 2002 The Slide Presentation Made by the Paris Club Officials at a Meeting with Private Sector Representatives Is Available at http://www.clubdeparis.org/rep_upload/presentationcomplete0.pdf.
March 5, 2002 Argentine Economy Minister Lenicov Issues Letter to EMTA Detailing Its Efforts to Open A Dialogue with External Creditors on a Resolution of the Country's Credit Situation.
February 11, 2002

NDF Market Practice for Argentina NDF Contracts - Members Only can View this NDF Market Practice by Clicking Here.

January 11, 2002 CME/EMTA ARS Industry Survey Rate is Available for Members Only in the Activities & Services, Market Data, CME/EMTA ARS Industry Survey Rate Area.

NDF Market Practice for Settlement of Outstanding Argentine NDF Contracts - Members Only can View this NDF Market Practice by Clicking Here. 

January 9, 2002 Market Practice Relating to Argentina 2018 and 2031 Bonds - Members Only can View this Market Practice by Clicking Here.

NDF Market Practice for Argentina NDF Contracts - Members Only can View this NDF Market Practice by Clicking Here.

January 2, 2002 NDF Market Practice for Deferral of Valuation Dates.
December 31, 2001 New NDF Market Practice for Deferral of December 21, 2001 Valuation Date to January 2, 2002.
December 24, 2001 EMTA Recommends Trades of Argentina's Brady Bonds and Sovereign Eurobonds Should Be 'Flat.'
December 21, 2001 Unscheduled Holiday Declared by Argentina - Members Only can View NDF Market Practices Relating to this Event by Clicking Here.
December 20, 2001 For Questions Regarding Argentine Income Payments Relating to Bonds Held at Euroclear, Please Contact Euroclear Client Support in Brussels at + (32) 2224-2810, Euroclear's New York Representative Office at +1 (646)835-5400 or your Euroclear Account Manager.

CME/EMTA ARS Industry Survey Rate is Available in the Activities & Services, Market Data, CME/EMTA ARS Industry Survey Area.

Request for ARS Industry Survey was Made to CME Today at 9:02 a.m. (NYC time).

December 3, 2001 Argentine Economy Minister Cavallo's Speech to Argentine Bondholders.
November 20, 2001

Argentine Economy Minister Cavallo Issues Letter to Holders of Argentine Bonds.

July 13, 2001

Argentina Letes Settle on T+1 Basis.

July 10, 2001

EMTA, ISDA and FX Committee announce new and amended Argentine Peso rate source definitions in Annex A to the 1998 FX and Currency Option Definitions.

Argentine Peso NDF Market Practice, Template Terms and ARS Methodology are now final and effective.

June 21, 2001

Argentina Approves EMTA Market Practice Recommendation for the Trading and Settlement of Argentine 2018 and 2031 Bonds.

June 14, 2001 Market Practice for Argentina 2018 and 2031 Bonds.
May 30, 2001 Argentina Exchange Offer. For a Copy of the Clearstream Notice, click here. For Clearstream Contact Information, click here. For a Copy of the Euroclear DACE Notice related to Non-Local Bonds, click here.
May 25, 2001 Argentina Exchange Offer. For a Copy of the Euroclear DACE Notice, click here. For Contact Information, click here.
April 27, 2001 Analysts Highlight Developments in Argentina at EMTA Spring Forum.

Drafts of the ARS NDF Template Terms and CME/EMTA ARS Methodology Summary are now available. (The procedures for requesting the ARS Methodology and conducting the ARS Industry Survey are also provisionally in place.) Members only may access these documents in Standard Documentation, FX/Derivatives Index. 

February 1, 2001 Argentina Announces Exchange Offer.

 

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