Argentina Wants to Sue U.S. in World Court Over Debt Dispute

The Peace Palace Vredespaleis  Hague International Court of Justice
Peter Horree/AlamyThe Peace Palace in The Hague, home of the International Court of Justice.
AMSTERDAM -- The International Court of Justice says it has received a filing from Argentina seeking to have the court hear a complaint by Argentina about U.S. court rulings on its sovereign debt restructuring.

U.S. courts have ruled that Argentina must pay in full "holdout" bondholders who did not participate in a restructuring of the country's debt after a default in 2001.

The court said Argentina's application asserted that the U.S. rulings amounted to a violation of its sovereignty.

The ICJ, often referred to as the 'world court,' is the United Nations' court for resolving disputes between nations.

The court said Argentina has sent the U.S. government a letter asking it to accept the court's jurisdiction.

Unless the U.S. agrees, the court will not have jurisdiction and the case will not proceed.

Increase your money and finance knowledge from home

Advice for Recent College Grads

Prepare yourself for the "real world".

View Course »

Investing in Emerging Markets

Learn to invest in a globalized world.

View Course »

Add a Comment

*0 / 3000 Character Maximum

34 Comments

Filter by:
gee.effwye

Screw Argentina, and screw the UN.

August 08 2014 at 11:10 AM Report abuse rate up rate down Reply
klaude

next time, send argentina to borrow money from the CARTELS and see what happens when they default on their loans.

August 08 2014 at 6:18 AM Report abuse rate up rate down Reply
frank1946

Socialists all the same.

It's your Fault !

Secured Debt means you foreclose on the Collateral.

Maybe the UAW could help them ?

August 08 2014 at 12:59 AM Report abuse +2 rate up rate down Reply
Gregg

They want to have the debt forgiven? Well.....when you live beyond your means then eventually your chickens come home to roost.

August 07 2014 at 10:53 PM Report abuse +2 rate up rate down Reply
remadden

Argentina turned to radical socialism in its last election and like all socialist countries, it is collapsing under its unsustainable debt spending. Same road the Democrats have been taking us down.

In less than 6 full years, this President has already nearly doubled the National Debt that the previous 43 Presidents ran up combined.

August 07 2014 at 9:33 PM Report abuse +4 rate up rate down Reply
1 reply to remadden's comment
Gregg

good assessment. The libs of course have found somebody in the banking industry who's a registered Republican to blame it all on.

August 07 2014 at 10:55 PM Report abuse +3 rate up rate down Reply
supermolar

they figure they can buy a couple of years before being declared in default. They owe the money-it does not get simpler than that-except in US courts that is.

August 07 2014 at 8:58 PM Report abuse -2 rate up rate down Reply
pdbliz

STOCK MARKET,,,,,LOOK OUT.!!!!

August 07 2014 at 8:55 PM Report abuse -2 rate up rate down Reply
pdbliz

Heck,,,,AMERICA IS STONE BROKE.!!!!!!!
I have already bought me a How to speak Chinese book.

August 07 2014 at 8:54 PM Report abuse -2 rate up rate down Reply
1 reply to pdbliz's comment
hecd.ag

Probably a good idea, since your command of English is pretty tenuous, your Chinese likely can't be too much worse.

August 08 2014 at 8:42 AM Report abuse rate up rate down Reply
wbearl

Pay attention America, so you will know how to deal with National Bankruptcy.

August 07 2014 at 6:58 PM Report abuse +2 rate up rate down Reply
JoAnn Kennedy

I guess Argentina doesn't trust US banksters either

August 07 2014 at 6:19 PM Report abuse -1 rate up rate down Reply
1 reply to JoAnn Kennedy's comment
gee.effwye

Yet they signed on the line.

August 08 2014 at 9:10 PM Report abuse rate up rate down Reply