World Business News

A round up of the latest news for those doing business internationally

Argentina dealt double blow over bondholder fight

Zone(s): Argentina, USA ¦ Sector(s): Finance, Economy
[16 June 2014, BBC News] The US Supreme Court has delivered a double blow to Argentina over its long-running battle with holders of the country’s defaulted bonds.

First, the court on Monday rejected Argentina’s appeal against an order to pay more than $1.3bn to hedge funds that hold some of the bonds. Then, bondholders won the right to use US courts to force Argentina to reveal where it owns assets around the world.

The country’s main stock market tumbled more than 6% at the start of trading.

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