Last month, Judge Thomas Griesa admonished Argentina for its default and said the event did not extinguish or reduce its obligations to bondholders, and that the country should continue negotiating with the holdout creditors via the court-appointed mediator.
Intractable Argentina seems to have paid scant regard to this advice and instead went ahead and sued the United States in the International Court of Justice, complaining that decisions by U.S. courts in its dispute with bondholders had violated its sovereignty.
Banks and hold-outs: No deal
On the side-lines, however, a group of banks, said to comprise Citigroup Inc (NYSE:C), Deutsche Bank AG (NYSE:DB) (ETR:DBK), HSBC Holdings plc (ADR) (NYSE:HSBC) (LON:HSBA) and JPMorgan Chase & Co. (NYSE:JPM), were negotiating with the holdout...
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