Saturday, October 27, 2012
Federal appeals court orders Argentina to pay more than $1 billion to investors
[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...
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