Spanish courts allow seizure of Argentine assets to pay a German creditor

The decision was favorable to the appeal by a German citizen who wanted to recover all the money invested in Argentine bonds of 1996 and 1997. In total, the Spanish court has recognized the payment of 184,271 euros, of which 139,803 for the capital invested and 44,468 for the interest on late payment and the costs of proceedings.

As the media say, the decision is not final yet, as Argentina has asked for a clarification of the judgment and, on the other hand, the Argentine Ministry of Finance tried to contact the investor to try to bury the dispute.

With the Spanish decision, Eyes are focused on non-diplomatic Argentine assets, as in the case of assets of the National Bank (BNA) in the Spanish capital.

The German citizen first tried to take legal action in Germany in 2011. And the Frankfurt Regional Court ruled in favor of the small investor and established that the South American country had to return all the money.

To execute his sentence, he decided to address his application to the Spanish justice, which managed to reach the highest court, which rendered a favorable decision to the German creditor.