LatinNews Daily Report - 21 August 2014

Argentina: On 14 August Argentina’s President Cristina Fernández announced that she would apply the country’s 2011 anti-terrorism law against a US printing company, RR Donnelley, which closed down its plant on 11 August citing bankruptcy, resulting in the loss of 407 jobs. President Fernández said the claims of bankruptcy were “false”. She held that the company had filed for bankruptcy on 8 August without the necessary documentation. A local Argentine judge accepted its plea on 11 August. Fernández claims that RR Donnelley is linked to the hedge funds that have secured a ruling in a payments dispute against Argentina from a New York federal district judge, Thomas Griesa. Argentina’s refusal to pay triggered a partial foreign debt default on 30 July. “It was an express bankruptcy. Not even Griesa would do that” she declared. As well as the threat to apply the anti-terrorism law, Fernández said that the tax agency, Administración Federal de Ingresos Públicos (AFIP) was appealing against the ruling.

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