RE: Media article , Peterson Case, Argentina News27 Jun 2020 00:09
I'm the executive whose name appears on La Nación article. Argentina, as of 6pm Eastern Time, has not yet presented its Discovery plans. They must do so before midnight. In any case, BUR did the right thing today. I believe they are 95% sure that this case will land on their side and were certain that, if Judge Preska had accepted a Summary Judgement petition sometime this month or next, they would have encountered industrial amounts of red tape from Argentina before BUR could see a single cent. This is why Chris Bogart on Wednesday said that "we expect this case to wrap up by mid 2021". Instead of seeking a Summary Judgment today, they went ahead and, very smartly I will add, asked the Judge to grant them a Discovery petition and make sure that all the red tape Argentina was expected to file to avoid payment, comes out during the next 12 months. These lines are key in today's BUR filing: "Expert discovery will allow the parties to address (among other things) damages...". BUR wants to collect all the necessary data to present the court with an accurate, reliable and sizable monetary award when they seek a Summary Judgement on March 2021 (according to today's filing). Make no mistake, Judge Preska may still consider Argentina's Discovery plans when she publishes her decision. If she takes BUR's plans, I can say with high degrees of certainty that this case is all but over, although it will take another 12-16 months to get paid. If on the other hand the Judge sides with Argentina, we will enter in uncharted territory and the outcome is uncertain for either side. If any of you needs any additional info, feel free to write me at smaril@researchfortraders.com. Cheers.