“For years the country has been trying to avoid paying a bunch of ‘vulture’ hedge fund managers that refused to take a 70% haircut on Argentine bonds like every other investor. This has resulted in some wacky news items — Paul Singer getting the government of Ghana to impound an Argentine naval ship last October, President Cristina Fernandez de Kirchner flying commercial to see the Pope so her jet isn’t taken — you get the idea. Now it’s (almost) come to a head.  A New York Judge fully rejected Argentina’s appeal of a decision made last year — a decision that would’ve had it pay Singer and company in full.”

http://www.businessinsider.com/argentina-loses-debt-appeal-2013-8

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