[JURIST] The US Court of Appeals for the Second Circuit [official website] ruled [opinion, PDF] on Friday that Argentina must pay $1.33 billion to bondholders when it repays its debts stemming from an economic collapse a decade ago. The Second Circuit affirmed a district court ruling that Argentina breached a promise when it prioritized paying holders of its restructured debt over the bondholders who held its defaulted debt. The appeals court rejected a dozen appeals by Argentina, including a claim...
Source: http://jurist.org/paperchase/2012/10/federal-appeals-court-orders-argentina-to-pay-more-than-1-billion-to-investors.php
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