Judge Loretta Preska of the Southern District Court of New York. Credit: Digital Capture
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The Justice of the United States ruled today in favor of Argentina and rejected the claim of creditors who intended to collect US $ 7.5 million in bonds, which was finally proven not to be duly certified.
This was resolved by Judge Loretta Preska of the Southern District Court of New York, who issued the sentence and did not allow the submission of three creditors because the documentation of the public titles was “incorrectly certified or authenticated.”
The legal claims were initiated by Italian bondholders between 2004 and 2006, and demanded the payment of these securities for a sum of US $ 7.5 million.
“They won the claim, they won the lawsuit, but they could not produce the bonds,” economist Sebastián Maril, head of the Fin.Guru consulting firm, explained to the NA agency.
He added that “they could not present the evidence confirming the holding of bonds” and specified that the plaintiffs reached the end, with a favorable ruling, but “at the time of payment they were not able to exchange the bonds for the money.”
The lawsuits had been initiated by Michele Colella and Dense Dussault in the first case; the second was started by Marcelo Ruben Rigueiro and the third, by Antonio Forgione, of Italian nationality.
In the ruling, the magistrate explained that Argentina presented documentation from the Italian banks: Banca di Credito Cooperativo Terra di Lavoro and UniCredit SPA.
Thus, the judge allowed the country to argue against the documentation presented by the plaintiffs, because the titles for which it was claimed were “improperly certified or authenticated.”
The judge is the one who replaced the previous magistrate, Thomas Griesa, who acquired great notoriety for his permanent rulings against Argentina.
It also has under its orbit other lawsuits against Argentina that are processed in New York, such as the lawsuit for the GDP Coupon and for the expropriation of YPF in 2012.
The sentence was known just at a time when Argentina is negotiating with the creditors, most of which accepted the official offer.
With information from NA
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