Deutsche Bank says it's getting bullied by the hedge funds suing Argentina
Source: Business Insider
Deutsche Bank says it's getting bullied by the hedge funds suing Argentina
Linette Lopez
24 minutes ago
In a letter to New York Judge Thomas Griesa, lawyers for Deutsche Bank said they were tired of being subpoenaed by the hedge funds suing Argentina.
"It is now evident that subpoenas being issued by NML, Aurelius and others are less in an effort to obtain information to locate and ultimately seize attachable assets of the Republic, and more a tool under the auspices of the Court to punish entities... that are identified in having played a role in financial transactions with the Republic..." it said. In other words, stop bullying us.
On top of "harassment," Deutsche Bank also accuses NML of leaking confidential Court documents.
For over a decade these hedge funds — known collectively as NML and led by hedge fund billionaire Paul Singer — have been suing Argentina over $1.7 billion in debt dating back to the country's 2001 default. Argentina refused to pay them unless they took a massive haircut on their debt like most shareholders.
Read more: http://www.businessinsider.com/deutsche-bank-accuses-nml-of-harrassment-2015-7#ixzz3fEz5jKoR
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