US$ 105 million belonging to Argentina are released in the US

United States, July 5, 2011

Today, the Second Appeal Court of the US lifted the embargo over 105 million dollars that belonged to Argentina. It was in the case of the so called “Buitre Funds”, which profited with the crisis in the country.

Judge Thomas Griesa had frozen an account of the Argentine Central Bank (BCRA) in the case of the bondholders EM and NML.

EM and NML are among bondholders which won hundreds of millions of dollars in judgments against Argentina arising out of a 2001 default. EM is owed about $800 million.