Argentine Government To Pay $337 Million in Appeal to Fight Unfavorable Ruling on Data Manipulation During Kirchner Era.

The Argentine government is facing a payment of approximately US$ 337 million to appeal an unfavorable ruling related to the manipulation of Indec data during the Kirchner era from 2007 to 2015. This payment must be made in a court in Great Britain as part of a trial against the country for falsifying economic growth data during Kirchnerism. The total amount of the sentence is approximately US$1.5 billion, as reported by Bloomberg and expert Sebastián Maril.

The plaintiffs in the case are represented by the law firm Quinn Emanuel Urquhart & Sullivan, with Dennis Hranitzky, the lawyer who seized the Frigate Libertad in 2012, among its partners. In response to this, the Argentine government has created the RofA Special Trust 2024 in New York to provide a guarantee of nearly US$330 million as a condition to appeal the ruling on PBI Coupons in London.

Recently, the Executive Branch approved a decree, 277/2024, published in the Official Gazette, which authorizes the creation of the RofA Special Trust 2024 and the issuance of a Standby Letter of Credit in favor of the Trustee of Negotiable Securities. The London Court of Appeal has set a deadline of April 5 for the State to pay bail in a trust account if they wish to continue with