Argentina Petitions High Court Over $1.4B Creditor Payout

Law360, New York (June 25, 2013, 9:48 PM EDT) -- The Republic of Argentina on Monday asked the U.S. Supreme Court to review a Second Circuit ruling forcing the country to pay nearly $1.4 billion to holdout creditors suing for full repayment on defaulted bonds, according to a report.

Argentina has argued that the appellate court's ruling marked the first time a U.S. court upheld enjoining a sovereign's use of its own property outside of the U.S. The country threatened to defy the order — even if that meant defaulting again on its sovereign debt....
To view the full article, register now.