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US judge rules Argentina is in contempt of court

  • A judge in the US has ruled that Argentina is in contempt of court as it refused to obey an order for repaying debt the country owed to two American hedge funds, according to media reports.

    Judge Thomas Griesa had ruled in July that Argentina must repay the funds before repaying other bondholders. Argentina’s refusal led to the country defaulting.

    Argentina's ambassador to the United States had earlier warned that finding the country in contempt of court would constitute “unlawful interference” in the internal affairs of Argentina.

     

    Tagged as: judge, US, Argentina, court, debt, hedge funds, Thomas Griesa, bondholders, business news