Kowabunga! According to CNBC Argentina will appeal a U.S federal court ruling ordering it
to pay $1.33 billion to holdout bond investors, the government said on
Thursday, vowing to fight "judicial colonialism" all the way to the
U.S. Supreme Court if necessary.
The stakes in the years-long legal battle were raised when
New York federal judge Thomas Griesa on Wednesday ordered Argentina to
immediately pay bondholders who shunned two exchanges of defaulted debt in 2005
and 2010.
As financial markets fretted about a possible new default
ahead for the South American county, Economy Minister Hernan Lorenzino said the
government will take the judge's ruling to the U.S. Second Circuit Appeals
Court on Monday.
Read more at http://www.cnbc.com/id/49934751
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