Citibank Tells Court Argentina Has a Gun to Its Head
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A lawyer for Citibank N.A. said the government of Argentina has “a gun to our head,” threatening the forced takeover of its branch in that country if the bank obeys a U.S. judge’s order blocking it from making payments to holders of $8.4 billion in Argentine bonds.
“We’re going to obey, and if we obey, we have a gun to our head and the gun will probably go off,” Citibank’s lawyer, Karen Wagner, said today in arguments before the U.S. Court of Appeals in Manhattan. “I ask this court, what good will that do? It won’t change what Argentina does.”