A U.S. District Judge said in a hearing Tuesday that he will
decide at a later time whether holders of Argentina's restructured
bonds governed by Argentine, Japanese and U.K. law can receive
their interest payments.
Argentina on June 26 deposited more than $800 million to make
interest payments due June 30 on its restructured bonds. The money
was deposited with Bank of New York Mellon Corp., Citigroup Inc.
and J.P. Morgan Chase & Co.
Judge Thomas Griesa had earlier ruled that Argentina cannot pay
restructured bondholders until it compensate a group of creditors
holding out for full payment on bonds the country's defaulted on in
2001.
Argentina will enter into technical default on its restructured
bonds on July 30 unless it reaches an agreement with the
holdouts.
After Argentina's default in 2001, the country had two debt
restructurings in 2005 and 2010, where it issued debt governed by
U.S., U.K., Argentine and Japanese law.
Write to Nicole Hong at nicole.hong@wsj.com
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