A judge has ruled that Argentina failed to pay U.S. bondholders their just due, cheating them out of about $1.5 billion in the last year or so.
U.S. District Judge Thomas Griesa issued his ruling after hearing an argument from a lawyer for U.S. hedge funds that Argentina’s government has failed to pay in accordance with his order — that American bondholders must be paid if South America’s bondholders are paid, too, USA Today reported.
“What we are talking about is proposals and changes and actions that come from the executive branch of the Republic of Argentina,” Mr. Griesa said in the USA Today report. “The republic in various ways has sought to avoid, to not attend to, almost to ignore this basic part of its financial obligations.”
The judge didn’t issue further sanctions yet, USA Today reported.
• Cheryl K. Chumley can be reached at cchumley@washingtontimes.com.
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