Argie Holdouts Get Favorable Ruling

A US federal appeals court has upheld a ruling that Argentina’s holdout creditors must be paid at the same time as creditors who accepted bonds in its 2005 and 2010 debt restructuring deals. The uling is clearly adverse to the interests of the Argentine government, Goldman Sachs says, though it remains unclear that payment flows to service the restructured debt can be attached in order to enforce the ruling. The dispute stems from Argentina’s $100bn sovereign default in 2001.