Citi Tells Court Its Argentina Banking License At Risk

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Citi Tells Court Its Argentina Banking License At Risk

by Wochit 0:42 mins

Citi Tells Court Its Argentina Banking License At Risk

by Wochit 0:42 mins

Citigroup has told the U.S. appeals court overseeing the dispute between Argentina and hedge funds refusing to accept terms of the country's debt restructuring that its Argentine banking license may be at risk as a result of the standoff. That is because under orders from U.S. District Judge Thomas Griesa, Citibank Argentina is barred from distributing payments it will receive from Argentina to holders of a class of restructured bonds that are governed under Argentine law.

Wochit

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