Last updated: August 29. 2013 10:36AM - 181 Views
Associated Press

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(AP) Argentina has been called back to court in New York to explain why it shouldn't be found in violation of an order that has delayed the consequences of its losing legal fight over defaulted debt.

Argentina has asked the U.S. Supreme Court to hear its appeal, and U.S. District Judge Thomas Griesa stayed his ruling that would force Argentina to pay about $1.4 billion on bonds that haven't been paid since the country's 2001 economic crisis.

That stay is in question now that President Cristina Fernandez announced plans to defy the U.S. courts by selling new bonds that would be enforced and paid from Buenos Aires, rather than paying the plaintiffs as ordered. She wants Argentina's congress to approve the debt swap by Sept. 15.

Associated Press
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