My opinion on the case of the vulture funds – Por Diego Migliorisi-

Por Diego Migliorisi

My opinion on the case of the vulture funds

Little remains unclear to me so much media discussion of this topic that affects mainly Argentina and the Argentines, although we should not dramatize and I do not see a direct impact on the daily lives of people, but if your future in the medium-long term.

But leaving aside political views and analyzing the issue as objectively as I get the impression that the failure of his majesty Judge Thomas Griesa is inequitable and validates international usury, ya que si bien la lógica del comercio y los compromisos suscriptos entre la Argentina y las entidades financieras internacionales establece un punitorios e intereses por la falta de pago desde el año 2002 (declaration of default) to date , that the penalty is paid a similar amount to almost 40 sometimes the debt is disproportionate . But I can not say that the fault is illegal, ya que la Argentina misma fue quien se sometió voluntariamente a esos tribunales cuando se tomaron los respectivos créditos, so if for Justice of New York, failure does not affect local legal principles nor understand as usury, I interpret that the jurisdiction to which the parties agreed to submit the decision is correct.

Now beyond the current government's efforts to find a solution that does not directly affect future generations, we must ask:

Those who have created this debt?,

For that use that money?

Where are the leaders who borrowed to Argentina?

The legality of this debt is ever analyzed?

These are just some questions, que inocentemente uno debe hacerse, beyond the commitment that each sovereign state to honor its debts.

In short I believe that in most legal systems of the world interest rate applied in this case as usury and is liable to bring them into internationally reasonable rates. But for the chosen jurisdiction by the parties, or at least the judge who took the case, There is such a challenge.

I share the complete failure in English:

http://migliorisiabogados.com/wp-content/uploads/2013/12/fallo-juez-Griesa-Fondos-buitres.pdf