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Argentina, hedge funds set for U.S. appeals court battle

Reuters – A long-awaited showdown in a U.S. appeals court next week pits Argentinaagainst a group of investors who refused to swap their debt after the country’s historic 2002 default.

Argentina risks defaulting again, this time on $24 billion in restructured debt if it sticks to a vow never to comply with orders to pay so-called “holdouts” but still tries to pay the vast majority of investors who exchanged their bonds in 2005 and 2010.

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