U.S. Supreme Court Rejects Appeal of Argentina in the case of the holdouts
The U.S. Supreme Court dismissed the first appeal Monday of Argentina on a lower court ruling ordering it to pay hedge funds that bought some bonds of the country’s debt after it was declared in default of payment in 2001. The judges did not comment on their ruling.
But Argentina retains legal options, including a second appeal which is pending in a federal court in New York.
The Supreme Court refused to review the case of Argentina against the holdouts, Bloomberg reported . U.S. Supreme Court reasons for rejection are still unknown , but the reverse is a judicial least for the national government.
The case stems from the financial crisis in Argentina just over a decade, when the government declared the country in default of 100,000 million dollars in debt , and some investors bought Argentine bonds that had almost no value.
The decision means that, for now, there will be not review on New York Court of Appeals ruling, which at the end of last year forced the Argentina to pay 100 % of the holdouts , a decision that had asked Judge Thomas Griesa.