THE T&T Cricket Board (TTCB) has stated that former national cricket captain Daren Ganga is attempting to overturn the democratic process of the organisation by advocating for the wholesale...
You are here
Argentina, US hedge funds in court over bond debt
NEW YORK—Lawyers for Argentina and a group of US hedge funds are in federal court in New York amid a high-stakes showdown over an order for Argentina to pay the funds US$1.5 billion for defaulted bonds. The hearing comes two days after the US Supreme Court refused to intervene in the order. It would deny Argentina use of the US financial system to pay other bondholders unless it first pays the plaintiffs.
The Argentine government has indicated it plans to sidestep the order. Economy Minister Axel Kicillof said that the government is “starting to take steps to begin a debt swap” to service the country’s restructured debt in “Argentina and under Argentine law.” The dispute stems from Argentina’s record US$100 billion default on its national debt in 2001.
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.
Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments.
Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.
User profiles registered through fake social media accounts may be deleted without notice.