Argentina misses a midnight deadline to make $539 million in interest payments to holdout bondholders

[TBomb]

FoxNews.com
9:30 PM (1 hour ago)

to me
Argentina misses a midnight deadline to make $539 million in interest payments to holdout bondholders

 

 

https://argentinasalvajizada.wordpress.com/category/argentine-update-argentine-update/

[pattyangel]

Let's see what kind of ripple affects this has on other countries. 

[TBomb]

FROM THE INTERNATIONAL COURT OF JUSTICE:

 

SEE PDF LINK

 

INTERNATIONAL COURT OF JUSTICE

Peace Palace, Carnegieplein 2, 2517 KJ The Hague, Netherlands

Tel.: +31 (0)70 302 2323 Fax: +31 (0)70 364 9928

Website: www.icj-cij.org

Press Release

Unofficial

No. 2014/25

7 August 2014

The Argentine Republic seeks to institute proceedings against the United States 

of America before the International Court of Justice. It requests US 

to accept the Court’s jurisdiction.

THE HAGUE, 7 August 2014. The Argentine Republic filed today in the Registry of the 

International Court of Justice a document, dated 7 August 2014, entitled “Application instituting 

proceedings” against the United States of America, regarding a “Dispute concerning judicial 

decisions of the United States of America relating to the restructuring of the Argentine sovereign 

debt”. 

The Argentine Republic contends that the United States of America has committed 

violations of Argentine sovereignty and immunities and other related violations as a result of 

judicial decisions adopted by US tribunals concerning the restructuring of the Argentine public 

debt.

The Argentine Republic “seeks to found the jurisdiction of the Court on the basis of 

Article 38, paragraph 5, of the Rules of Court”. Under that Article:

“When the applicant State proposes to found the jurisdiction of the Court upon a 

consent thereto yet to be given or manifested by the State against which such 

application is made, the application shall be transmitted to that State. It shall not 

however be entered in the General List, nor any action be taken in the proceedings, 

unless and until the State against which such application is made consents to the 

Court’s jurisdiction for the purposes of the case.”

In accordance with Article 38, paragraph 5, of the Rules of Court, the Application by the 

Argentine Republic has been transmitted to the US Government. However, no action will be taken 

in the proceedings unless and until the United States of America consents to the Court’s 

jurisdiction in the case.

___________

Note: The Court’s press releases are drafted by the Registry for information purposes only 

and do not constitute official documents.

___________

The International Court of Justice (ICJ) is the principal judicial organ of the United Nations. 

It was established by the United Nations Charter in June 1945 and began its activities in 

April 1946. The seat of the Court is at the Peace Palace in The Hague (Netherlands). Of the six - 2 -

principal organs of the United Nations, it is the only one not located in New York. The Court has a 

twofold role: first, to settle, in accordance with international law, legal disputes submitted to it by 

States (its judgments have binding force and are without appeal for the parties concerned); and, 

second, to give advisory opinions on legal questions referred to it by duly authorized United 

Nations organs and agencies of the system. The Court is composed of 15 judges elected for a 

nine-year term by the General Assembly and the Security Council of the United Nations. 

Independent of the United Nations Secretariat, it is assisted by a Registry, its own international 

secretariat, whose activities are both judicial and diplomatic, as well as administrative. The official 

languages of the Court are French and English. Also known as the “World Court”, it is the only 

court of a universal character with general jurisdiction.

The ICJ, a court open only to States for contentious proceedings, and to certain organs and 

institutions of the United Nations system for advisory proceedings, should not be confused with the 

other  mostly criminal  judicial institutions based in The Hague and adjacent areas, such as the 

International Criminal Tribunal for the former Yugoslavia (ICTY, an ad hoc court created by the 

Security Council), the International Criminal Court (ICC, the first permanent international criminal 

court, established by treaty, which does not belong to the United Nations system), the Special 

Tribunal for Lebanon (STL, an independent judicial body composed of Lebanese and international 

judges, which is not a United Nations tribunal and does not form part of the Lebanese judicial 

system), or the Permanent Court of Arbitration (PCA, an independent institution which assists in 

the establishment of arbitral tribunals and facilitates their work, in accordance with the Hague 

Convention of 1899).

___________

Information Department:

Mr. Andrey Poskakukhin, First Secretary of the Court, Head of Department (+31 (0)70 302 2336)

Mr. Boris Heim, Information Officer (+31 (0)70 302 2337) 

Ms Joanne Moore, Associate Information Officer (+31 (0)70 302 2394) 

Ms Genoveva Madurga, Administrative Assistant (+31 (0)70 302 2396)

 

http://www.icj-cij.org/presscom/files/4/18354.pdf