Boston, MA 06\/20\/2014 (wallstreetpr) \u2013 A ruling by the Supreme Court essentially means that, The Bank of New York Mellon Corporation (NYSE:BK)<\/b>, will continue to be entangled in the unfolding debt saga over Argentina bonds. The Bank has been stuck in the dispute ever since New York\u2019s Judge Thomas Griesa ruled against Argentina paying holders for the defaulted debt that it restructured between 2005 and 2010 without paying \u201cHoldouts\u201d of the bonds.<\/p>\n
New York Stringent Laws On Debt Issuers<\/b><\/p>\n
The Bank of New York Mellon Corporation (NYSE:BK) as a trustee of the restructured bonds in Argentina is accused of dispensing payments from the country to investors as part of the exchanged debt. The ruling essentially leaves the bank at a thorny position of having to comply with the court ruling as well as meeting its obligations as a trustee. The bank has already reiterated its commitment to comply with a court order, according to its spokesman.<\/p>\n
The uncomfortable position that the bank finds itself in, underscores the intermediary position normally played by large financial institutions as well as New York\u2019s Position as a global processing center and hub for sovereign debt sales. The case also raises issues of whether debt issuers will continue to sell their bonds in New York where laws are known to be stringent as seen by the Argentine precedent. Some observers believe England has some of the best laws suited for the case compared to New York.<\/p>\n
Bank Of New York Mellon Online Tool For Investment Management Managers<\/b><\/p>\n
Separately Bank of New York Mellon Corporation (NYSE:BK) has launched its own online portal named MyOnCore that offers oversight to investment managers who outsource their middle office operations. The online portal helps managers define various governance parameters around outsourced arrangement more effectively giving them a clear insight into logistics and various operations.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 06\/20\/2014 (wallstreetpr) \u2013 A ruling by the Supreme Court essentially means that, The Bank of New York Mellon Corporation (NYSE:BK), will continue to […]<\/p>\n","protected":false},"author":3,"featured_media":21254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[1942],"tags":[1356,1355,1661],"stock_ticker":[],"class_list":["post-26522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-nysebk","tag-the-bank-of-new-york-mellon-corporation","tag-the-bank-of-new-york-mellon-corporation-nysebk","entry"],"acf":[],"yoast_head":"\n