The external front for Argentina was cleared a little more. Judge Loretta Preska, of the Southern District of New York, today rejected the claim of Italian savers for the payment of USD7.5 million of bonds that were defaulted in 2001.
The magistrate, who is also in charge of the trials for the expropriation of YPF and the litigation for the PBI coupons, ruled against the plaintiffs because the documentation of the public titles was “incorrectly certified or authenticated.”
The lawsuits had been initiated between 2004 and 2006 and required a total sum of USD7.5 million.
According to the economist Sebastián Maril, a partner at Fin.Guru, the plaintiffs had obtained a favorable ruling but were unable to “produce the bonds,” that is, to present the evidence that confirmed their holdings.
There were three lawsuits in total: the first, initiated by Michele Colella and Dense Dussault; the second by Marcelo Ruben Rigueiro; and the third, by Antonio Forgione.
In the ruling, the magistrate explained that Argentina presented documentation from the Italian banks Banca di Credito Cooperativo Terra di Lavoro and UniCredit SPA that demonstrated that the documents presented by the plaintiffs were not “authentic.”
Preska is the judge who replaced Thomas Griesa, who became famous for his rulings against Argentina, after his retirement in 2017.
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