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US appeals court rejects Argentine bond arguments

US appeals court rejects Argentine bond arguments

Argentina has lost its long battle in US courts to justify its refusal to pay so-called bond holdouts who didn't accept pennies on the dollar for defaulted debt years ago.
An appellate court in New York on Friday rejected a dozen appeals that Argentina filed over the years, and ordered the South American country to pay the holdouts an equal amount whenever it makes payments on other debt restructured since the country's economic collapse a decade ago.
The holdouts say Argentina owes them $1.33 billion in unpaid principal and interest.
Argentina has paid other bonds since then but has refused to deal with the holdouts, who in turn have gone after Argentine assets worldwide, including the navy's signature tall ship Libertad, now detained in Ghana.


Updated : 2021-03-04 21:17 GMT+08:00