Argentina passes bill defying US court
September 12 , 2014
Argentina’s Congress passed a bill that defies a ruling by a US court which pushed the South American country into default.
The issue is linked to a long dispute with hedge funds over a $1.3bn payment on bonds. A US court ruled in favor of the hedge funds, thus barring Argentina from distribution of interest payments.
However, the bill will make it possible for Argentina to make the payments either locally or in jurisdictions not covered by American courts.