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US Supreme Court to hear Argentina case
The US Supreme Court has agreed to rule on whether Argentina's assets are protected from hedge funds seeking to be paid back.
...
The country objected to a lower court ruling that gave creditors the power to pursue its non-US assets.
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But hedge funds NML Capital and Aurelius are demanding 100% repayment of the $1.3bn, plus interest.
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The US Justice Department is taking the side of Argentina in this case. It urged the top court to hear the case and strike it down, arguing that the FSIA protects foreign governments' property "unless the property is used for a commercial activity in the United States".
http://www.bbc.co.uk/news/business-25703682
...
The country objected to a lower court ruling that gave creditors the power to pursue its non-US assets.
...
But hedge funds NML Capital and Aurelius are demanding 100% repayment of the $1.3bn, plus interest.
...
The US Justice Department is taking the side of Argentina in this case. It urged the top court to hear the case and strike it down, arguing that the FSIA protects foreign governments' property "unless the property is used for a commercial activity in the United States".
http://www.bbc.co.uk/news/business-25703682
