On Friday, US Judge Loretta Preska ruled in Argentina’s favor in three cases of creditors claiming funds for the alleged ownership of an Argentine bond. These are causes initiated in 2004, 2005 and 2006 for which funds called holdouts claimed a total of US$7.5 million.
The lawsuits she defined by the judge of the Southern District Court in New York are led by Italian savers. The first case is that of Michele Colella and Dense Dussault against Argentina; the second, the one initiated by Marcelo Ruben Rigueiro and the third, by the creditor Antonio Forgione. The three lawsuits seek the recovery of Funds from Argentina based on the alleged ownership of the claimants of the AN02 bond. In addition, Argentina submitted documentation from two Italian banks, Banca di Credito Cooperativo Terra di Lavoro and UniCredit S.p.A, which states that the bank documents that the plaintiffs have submitted to the court are “not authentic”. He also notes in the letter that the country added “several other inconsistencies in the plaintiffs’ history.”
Loretta Preska succeeded Judge Thomas Griesa in 2017 and is in charge of other lawsuits against Argentina: the lawsuit for the PBI coupon and the expropriation of YPF, in 2012.
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