Argentina Appeals Court Order to Pay ‘Me-Too’ Claims

2015-06-17 5

In Argentina’s long battle against hedge funds, bondholders who did not originally sue the government are jumping on board after Judge Thomas Griesa’s recent ruling that Argentina must immediately pay $5.4 billion to more than 500 "me-too" holders of defaulted debt before it can pay the majority of its creditors. Analysts say that paying “me-too” funds would cause even greater financial problems for Argentina. The Cristina Fernandez administration is appealing Griesa’s ruling. Leo Poblete reports from Buenos Aires for teleSUR