Read the rest here.(Reuters) - Argentina challenged a U.S. court over the weekend by proposing that "holdout" bond investors be repaid only about one sixth the money federal judges hearing the case say they are owed, setting the stage for a legal showdown in New York.
The terms offered by Argentina are the same as those accepted by bondholders who chose to participate in the country's 2010 sovereign bond restructuring. The holdouts rejected that restructuring and are holding out for full repayment.
Aside from the implications the case has for Argentina's finances, it could also have wide ramifications for the way future sovereign restructurings are carried around the world.
http://www.reuters.com/article/2013/03/ ... 1H20130331