Argentina Loss Brings End of Defaulted Bond Fight Closer
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Argentina lost its appeal of a ruling that would force it to pay in full holders of $1.5 billion in its defaulted debt when it makes a payment to investors who took discounted restructured bonds, leaving the unlikely prospect of a Supreme Court appeal as its last hope.
The U.S. Court of Appeals in New York said it would delay the effect of its ruling until the high court decides whether to review the case. Argentina’s restructured bonds fell after the ruling was released.