LIMA, Peru, June 20, 2016 /PRNewswire/ — The Land Reform Bondholders Association (ABDA) claims that the Ministry of Economy and Finance (MEF) is trying to hide information related to the Agrarian Bond debt.
This time, the MEF refuses to publish an “independent report” prepared by Paul G. Mahoney, an expert in securities law and the Dean of the University of Virginia School of Law, which was published on its official statement on June 2, 2016. Such report would be challenging international actions brought against the Peruvian government for lacking supposedly legal basis.
ABDA questions the fact mentioned in the official statement, an “individual report” which invalidates the claim against the State, without disclosing further details. It should be noted that the bondholders have sought access to such report through the MEF and Dr. Mahoney himself, which has been denied; therefore, they urge any of the parties involved to publish the arguments supporting its controversial position.
“It is astonishing that the State announces having evidence to discredit the claim that has been filed, but does not publish such evidence in order to know the truth. It appears to be normal for the MEF to hide information,” said Ramon Remolina, President of the ABDA.
On the other hand, at the request of bondholders, Dr. John Coffee, a renowned securities law specialist and law professor at the Columbia University, has expressed his legal opinion on this issue: http://bonosagrarios.pe/wp-content/uploads/2016/01/Coffee-Opinión-Legal-Español.pdf, indicating that Peru is issuing incorrect information regarding the Agrarian Debt.
SOURCE Agrarian Debt Bondholder Association