The Traderszone Network

Published in TZ Latest News 12 March, 2015 by The TZ Newswire Staff

Argentina dealt setback by U.S. judge over Citigroup bond payments

A federal judge on Thursday said Citigroup Inc (C.N) cannot process interest payments by Argentina on some bonds issued under that country’s law, a defeat for the cash-strapped nation as it attempts to re-enter international debt markets. U.S. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called dollar-denominated exchange bonds would violate a requirement that Argentina treat bondholders equally. Griesa’s decision upheld his order on July 28 that blocked Citigroup from making the payments on an estimated $2.3 billion of bonds.

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