Argentina Rejected by U.S. Court in Bond Payment Appeal
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The U.S. Supreme Court left intact a ruling that may force Argentina to make payments on defaulted government bonds, rejecting that country’s appeal in a clash that has roiled its financial markets.
The justices, without comment, today let stand a 2012 U.S. appeals court decision that bars Argentina from making payments on $24 billion in restructured debt unless it also pays owners of the earlier repudiated bonds. The bondholders include a fund controlled by billionaire Paul Singer. The Supreme Court still could get involved at a later stage.