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Won’t Somebody Please Consider How Argentina’s Refusal To Pay Its Bills Will Affect Citigroup?

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Paul Singer doesn’t want to hear the bank’s bellyaching. Neither does the U.S. Second Circuit Court of Appeals. But not wanting to go the way of BNY Mellon, Citi will try its hand once more with the not-always-sympathetic Thomas Griesa.

"As your honor knows, we are facing a payment deadline of Sept. 30, so we are likely also to move for a stay," said Karen Wagner, a lawyer for Citigroup, according to a transcript obtained on Monday….

Citigroup has said it faces regulatory and criminal sanctions by Argentina if it cannot process a $5 million interest payment due to bondholders by Sept. 30.

Citigroup to seek pause of order blocking Argentine bond payment [Reuters]
U.S. Court Declines Citigroup Appeal on Interest Payments on Argentine Bonds [WSJ]


The late Judge Thomas P. Griesa. By John Haslam from Dornoch, Scotland [CC BY 2.0], via Wikimedia Commons

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