und weils so schön ist....und ich mit denen auch noch eine Rechnung offen habe: Ecuador

und weils so schön ist....und ich mit denen auch noch eine Rechnung offen habe: Ecuador

The Bonds are unconditional general obligations of Ecuador for the payment and performance of
which the full faith and credit of Ecuador has been pledged and will rank pari passu among
themselves and at least pari passu in priority of payment with all other present and future
unsecured and unsubordinated External Indebtedness (as defined in paragraph 6 hereof) of
Ecuador.

punkt c)
S 121

Prospectus des 12% 2012 und Step up 2030....jetzt default....obwohl genug geld da war

XS0115743519

Ecuador, Republik DL-Bonds 2000(01/30) Reg.S

XS0115748401
Ecuador, Republik DL-Bonds 2000(01/06-12) Reg.S

und hier der bediente:

USP8055QDE90
Ecuador, Republik DL-Bonds 2005(15) Reg.S

The Republic of Ecuador
U.S.$ 650,000,000
9.375% Bonds due 2015
Interest payable June 15 and December 15
Issue Price: 91.692%

will rank pari passu among themselves and at least pari passu in priority of payment with all of Ecuador’s
present and future unsecured and unsubordinated External Indebtedness, as defined under “—Certain Defined
Terms” below;

S 90

und alle 3 jurisdiction New York....the home of pari passu / pro rata payment

man sieht, die alten und defaulten bonds bilden eine pari passu klammer noch vorn (zeitlich) und die neuen, bedienten Bonds (hier nur einer) eine klammer um die gegenwärtigen (also natürlich auch die defaulten aus der vergangenheit...die ja noch gegenwärtig sind) sowie auch nach vorn....

und noch ein Schmankerl:

LEGAL ADVISORS TO THE REPUBLIC

as to New York law
Cleary, Gottlieb, Steen & Hamilton
One Liberty Plaza
New York, New York 10006

(old Bond)

LEGAL ADVISORS TO THE REPUBLIC

As to United States law
Cleary Gottlieb Steen & Hamilton LLP
One Liberty Plaza
New York, New York 10006
United States

(new bond)

CGSH das sind genau die Leute die jetzt vehement dafür kämpfen, dass die enge / narrow Interpretation der pari passu / pro rata payment version vorm Court of Appels obsiegt.

the CGSH people draftet the ecuador prospectus with the literally broad/wide version of the pari passu clause and today they are struggeling at Court of Appeals to get the narrow one in the argentina case

life is sometimes funny.....

2 defaulte / 1 bedienter ECU-Bond

ECUADOR, REPUBLIK DL-BONDS 2000(01/30)..	7,00%	USD	--	--	niedrig	--
ECUADOR, REPUBLIK DL-BONDS 2000(01/06-..	9,50%	USD	--	--	niedrig	--
ECUADOR, REPUBLIK DL-BONDS 2005(15) RE..	98,00%	USD	10,267%	--	niedrig

Ecuador....mit den Jungs habe ich auch noch eine Rechnung offen (2012 / 2030 Default) willkürlicher Default...Geld war genug da

Sonntag, 27. Mai 2012

Ecuador....mit den Jungs habe ich auch noch eine Rechnung offen (2012 / 2030 Default) willkürlicher Default...Geld war genug da

wer von euch hat uch diese ECU12 und ECU30 Bonds ?

rolfjkoch@web.de

der 2015er Bond wird regulär bedient....

Ecuador 2012 und 2030 Bond Default....A U.S. team of lawyers continues to prepare a legal defense should bondholders sue the government, Correa added.

Ecuador Hires Lazard to Advise It on Bond Buyback, Correa Says

By Stephan Kueffner - January 17, 2009 12:34 EST

Jan. 17 (Bloomberg) -- Ecuador has hired investment bank Lazard Ltd. to advise it on its plan to buy back at a discount $3.2 billion in bonds due in 2012 and 2030, President Rafael Correa said.
Ecuador, which considers the bonds “illegal” and“illegitimate” following a government-sponsored audit, wants Lazard to help the government decide on the exact terms of a restructuring, Correa said today during his regularly scheduled radio-and-television address.
“I’ve known them since 2005, when I was economy minister,”Correa said, speaking of the firm.
On Dec. 12, Ecuador defaulted on its 2012 bond, the South American country’s second default in a decade. The main issue the government has with the debt is its price, Correa reiterated today.

A U.S. team of lawyers continues to prepare a legal defense should bondholders sue the government, Correa added.

“We’ve always known there are risks,” Correa said today.
To contact the reporter on this story:Stephan Kueffner in Quito at skueffner@bloomberg.net
To contact the editor responsible for this story: Fred Strasser at fstrasser@bloomberg.net

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aAIVIXeTuqiw&refer=news