Argentina Defaults On Debt After Supreme Court Ruling

Argentina Defaults On Debt After Supreme Court Ruling

As previously reported, on June 16, 2014, in NML Capital, Ltd. et al., v The Republic of Argentina, the United States Supreme Court declined to hear Argentina’s petition for writ of certiorari ending Argentina’s chance of overturning the interpretation of the pari passu clause by the United States District Court for the Southern District of New York which requires Argentina to make ratable payments to the holdout bondholders if it makes any repayments to the exchange bondholders.