Bank of New York Mellon : Argentina to appeal U.S. judge’s order on bond payment

Argentina said on Friday it would appeal a U.S. judge’s decision declaring illegal a $539 million (324.69 million pounds) payment the country deposited with Bank of New York Mellon Corp for its restructured bondholders.

BNY Mellon in June obeyed a U.S. court ruling to block the $539 million interest payment on debt that was restructured following Argentina’s record 2002 debt default, paving the way for the country’s second default in 12 years in July.

Argentina said on Tuesday it had stripped Bank of New York Mellon’s authorization to operate in the South American country.

Read on.

2 responses to “Bank of New York Mellon : Argentina to appeal U.S. judge’s order on bond payment

  1. Reblogged this on Deadly Clear and commented:
    Oh, what a wicked web we weave…

  2. Default on these bogus debt is the BEST solution available to them. … I can see why they took that option. Perpetual debt, the sell off of their natural resources to the very corporations that got them there to begin with. What a plan! Cause the problem, then benefit again from the problem they created.
    Sounds a lot like the mortgage crisis…
    The other option, paying the fraudulent debt, is endless poverty for the country. No money for programs that would actually help everyone.
    A solution?
    Public banking…. Google/See Ellen Brown and the public Banking Institute…

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