Judge Orders Illegal $539 Million Payment Back To Argentina

The struggle between Argentina and holdout bondholders led by Paul Singer’s Elliott Management has taken a strange turn this week, when Argentina first announced that it had deposited $539 million with Bank of New York Mellon to pay its main bondholders, and Judge Thomas P. Griesa then ordered the money to be sent back to Argentina because the payment was illegal in the first place, the AP reports.

Argentina says it will negotiate, but has yet to do so

Argentina has said that it’s willing to negotiate with Elliott Management following the Supreme Court’s...