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U.S. backs Argentina in bank subpoena case over holdout creditors

HedgeWorld – The U.S. government has backed Argentina in one of its cases against sovereign bond investors who declined to participate in restructurings following the country’s 2002 default, according to a brief that was filed this week.

The U.S. Supreme Court in January agreed to consider a dispute over subpoenas in a case stemming from long-running litigation over Argentina’s obligations to bond investors in the wake of its record-smashing default on $100 billion in obligations 12 years ago.

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