The Mexican media refer to Martínez as being a "ghost investor."[seven] One resource phone calls him "a discreet gentleman" who Irrespective of his huge investments remains greatly "not known." Reportedly, just one photograph of him can be found on the web, which was taken by Kirchner's photographer, Bugge Victor, the Formal photographer for Argentina presidency, at Argentina's consulate in The big apple.
The Journal described Martínez as "Component of a small group of buyers who're keen to overlook Argentina's standing to be a financial pariah and wager long run," during the expectation that "the following government to get extra pragmatic and less hostile to small business."[thirteen]
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The Financial Instances published an write-up by Martínez on March 7, 2013, during which he argued that Decide Griesa's "interference" could possibly "make long term sovereign restructurings not possible, setting a perilous precedent for the planet's financial technique." Succumbing to "the calls for of holdout creditors," wrote Martínez, Griesa had ordered the Argentinian authorities to pay them $one.three billion. Noting the "all sovereign restructurings" had been successful "partly simply because nations have most of their belongings secured by legislation," Martínez characterized "holdout creditors" as "cost-free riders" whom most nations repay to prevent harassment; having said that, "Argentina's leadership, which understands the way to combat, opted to protect alone against the entire world's most litigious money, which now want to collect in whole.
On March 11, the Financial Times ran a reply by Robert Shapiro of yankee Undertaking Force Argentina, calling Martínez's posting "a disservice to your FT's visitors" and stating that Argentina's steps "pose the true danger to worldwide finance." Shapiro stated that since Argentina's 2001 financial debt default, "the regimes of Néstor Kirchner and Christina Kirchner Fernandez have turned down every tenet of world finance. They refused to barter with bondholders, took 4 many years to challenge a 'choose-it-or-depart-it' present of 27 cents over the greenback or scarcely 50 % the Worldwide norm, repudiated the credit card debt of twenty five for each cent of bondholders who rejected that very low-ball give, and ignored a lot more than 100 directives from US courts to honour their obligations.
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A The Wall Road Journal report, released on November ten, 2013, described Martínez's selection to take a position in Argentina "an unusual get in touch with," on condition that "Argentina has been a cautionary tale For a lot of investors considering the fact that its 2001 default on $a hundred billion in sovereign personal debt" and that its last two presidents, Néstor Kirchner and Cristina Kirchner, had "repeatedly long gone mano a mano with huge enterprise," nationalizing an oil firm and seeking to drive the Clarin media group to break up its company.
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His "wholesale" purchase of defaulted Argentinian bonds was considered an act of "loyalty" to Argentina by Kirchner and others. Throughout Argentina's worst financial situations, he acquired into "Just about all" with the place's substantial companies, "from Telecom to Transener."[8]
In reaction, American Trader Paul Singer's organization, Elliott Associates, along with other hedge resources, which jointly owned about $seven hundred million of Vitro's outdated debt, claimed that Martínez experienced assisted Vitro "muscle mass investors from many countless bucks by means of financial sleight of hand," and accused Vitro of "audacity, brazen manipulation and greed.
This authorized fight, documented the Moments, was "drawing again a curtain on Mr. Martínez's secretive world" and "could have implications for other corporations on the globe's speediest-rising economies.