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	News Center Varying strategies among the bondholders La Nacion January 12, 2010 There is disagreement among the different groups Silvia Pisani U.S. Correspondent WASHINGTON.- Is there a minister? Is there still an offer for a new debt swap? With the enormous degradation that in these days has been suffered by the announced plan to pay the holders of Argentine debt bonds in default, many of those annoyed investors prefer to believe that it will go forward, persuaded that recovering something through the courts "will be very difficult still." The uncertain situation of the debt is the motive of evaluation in government organizations in the U.S., who tend to the complaints of affected U.S. investors. For many of those bondholders, the now uncertain government plan to constitute the Bicentennial Fund creates a judicial opening for collecting money, should those reserves be embargoed to pay all those who felt they were swindled. Those for that option that of the judicial complaint are only a part of the multifaceted conglomeration of those affected that Argentina, with its mega-millionaire default in 2001, harvested around the world. In the last few hours, Judge Thomas Griesa, headquartered in New York, received many of them to look into an eventual embargo. Law firms that advise the bondholders argue that, less those under Swiss jurisdiction, Argentina's reserves are "perfectly subject to embargo" by their natural creditors, among them the holders of bonds in default. For the bondholders not for all of them that doesn't necessarily mean the better route for paying out their claims of eight years. Despite that, they don't have an option if, as some fear, the new swap falls away. "President Kirchner made a mistake when she put all the bondholders in the same situation and characterized all of us as vultures. That is a lie that serves her populism, but that leads her to a mistaken strategy," said Mark Botsford, one of the affected bondholders. The Argentine government has planned to present an offer in the coming days to the bondholders that didn't accept the 2005 swap, for some US$20 billion. At press time, nothing on that was clear. Despite there being no official communication about a cancelation, nobody here imagines that Economy Minister Amado Boudou is making his scheduled trip tomorrow morning. "Under these conditions, what is he going to say? What swap promotion could he make?" asked a banker. For acceptance there is, above all, the Gramercy fund, with the help of Barclays, Deustche and Citibank, who helped put the new offer together. The government hopes for an acceptance of around 50%. The other 50% is heterogeneous: there are speculators, small bondholders, and institutional investors. In general terms, they demand full payment and not partial. And through the legal route, in the US or in the Hague, like the case of Nicola Stock of Italy.		U.S. Government Takes Action Click here to view letters by the Administration and Members of Congress on Argentina's debt and economic policies. The Debt and Europe Click Here To Read More ATFA Member Spotlight National Taxpayer's Union Open Letter to the U.S. House of Representatives: Protect Taxpayers from Judgment-Evading Nations Click here to view other ATFA member activity Join Us Show your support for ATFA and our work regarding debt default by joining our growing list of supporters.   Tell Your Friends Do you have friends or colleagues who would be interested in supporting ATFA? Send them an invitation to this site byclicking here. Argentine International Reserves & Argentina GDP

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