BUENOS AIRES, Argentina (AP) -- An Argentine judge has ruled that the shuttered local subsidiary of Chicago-based printing company R.R. Donnelley & Sons can continue operations under the control of a workers' cooperative.
The company closed its plant on the outskirts of Buenos Aires in August, filing for bankruptcy citing tough economic times in Argentina, which is plagued by recession and one of the world's highest inflation rates. At the time, workers protested outside the shuttered gate about the layoff of about 400 employees.
President Cristina Fernandez has attributed the decision to the supposed presence on the company's board of U.S. hedge funds linked to Paul Singer's NML Capital Ltd., which is in a legal battle with her leftist government over bond payments.
R.R. Donnelley, for its part, has denied having any relation to Argentine bond holders and said its operations in Argentina were not profitable.
In Monday's ruling, judge Gerardo Santicchia set a series of prerequisites the workers need to meet to begin operations.