JUDGE'S DISCRETION
The Supreme Court's decision hurts Argentina's efforts to normalize relations with foreign investors and creditors in order to regain access to international funds.
U.S. District Court Judge Thomas Griesa, who handed down the judgment in the holdout's favor, and has been dealing with the deluge of cases brought in the New York courts,
has asked on several occasions why the two sides don't sit down and finally negotiate a settlement.
Griesa has not spoken outside of court, but some who have argued in front of him say he may be willing to work around the June 30 date for the next coupon payment due exchange bondholders. His injunction, which is currently stayed, calls for all the creditors to be paid at the same time or none at all.
"Whatever hostility he harbors toward Argentina – and there's plenty of that – he has repeatedly said, 'Why aren’t you negotiating?' He has no interest in being the guy who causes Argentina to default on $25 billion, $30 billion in foreign debt," said Marco Schnabl of Skadden, Arps, Slate, Meagher & Flom who has argued before Griesa on behalf of Argentine clients.
"Injunctions are amendable. I doubt he would do it on a unilateral request by Argentina" but if both sides asked, "he would give them that in a heartbeat."
(Additional reporting by Alison Frankel in New York and Sujata Rao in London)
http://kdal610.com/news/articles/2014/j ... each-deal/