SCR2: urging Congress to discontinue foreign aid to Argentina until financial disputes are resolved.

SCR 2 - AS INTRODUCED

2015 SESSION

15-0951

05/08

SENATE CONCURRENT RESOLUTION 2

A RESOLUTION urging Congress to discontinue foreign aid to Argentina until financial disputes are resolved.

SPONSORS: Sen. D'Allesandro, Dist 20; Sen. Lasky, Dist 13; Sen. Bradley, Dist 3; Sen. Soucy, Dist 18

COMMITTEE: Rules, Enrolled Bills and Internal Affairs

ANALYSIS

This resolution urges Congress to discontinue foreign aid to Argentina until financial disputes are resolved.

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15-0951

05/08

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Fifteen

A RESOLUTION urging Congress to discontinue foreign aid to Argentina until financial disputes are resolved.

Whereas, the government of Argentina, as a successor to the obligations of a state owned insurance company, has continued to ignore perfected United States court orders and judgments on a debt owed to a growing New Hampshire company, The Riverstone Group, and its affiliate TIG Insurance Company, a California domiciled insurance company, both headquartered in Manchester, that employ over 230 people and provide many good paying jobs and benefits to the local and state economies; and

Whereas, the government of Argentina’s action with regard to non-payment of debt appears to be part of a consistent pattern, in so far as it owes money to other U.S. corporations and to the Government of the United States; and

Whereas, Riverstone’s affiliate, TIG Insurance Company, has worked with members of Congress and senators from both parties since 2004 to encourage the Argentineans to resolve this issue and the State Department, under both President George W. Bush and President Barack Obama, has also worked very hard on their behalf, but nothing has come as a result of these efforts; now, therefore, be it

Resolved by the Senate, the House of Representatives concurring:

That the general court urges the Congress of the United States to hold the government of Argentina accountable for its negligence in not paying these debts; and

That Congress freeze all foreign aid appropriated for Argentina until it negotiates a resolution to these disputes and that Congress encourage the Secretary of State to deny any request for aid, loans, or any other form of assistance made through any international lending organizations until Argentina satisfies in full all United States court judgments against Argentine government-owned corporations; and

That the senate clerk forward copies of this resolution to the President of the United States, the Speaker of the United States House of Representatives, the majority and minority leadership of the Senate, to each member of the New Hampshire congressional delegation, and to the Secretary of State.