Citigroup has said it faces regulatory and criminal sanctions by Argentina, which defaulted again in July, if it cannot process the country's interest payments on US dollar-denominated bonds issued under Argentine law.

Thursday, October 23, 2014

Citigroup to return to US court December 2 over Argentine bond payments

A US judge has scheduled a December 2 hearing to weigh arguments over whether Citigroup Inc should be allowed to process an expected interest payment by Argentina on bonds issued under its local laws following its 2002 default.

The hearing before US District Judge Thomas Griesa in Manhattan, set out in an order issued late Wednesday, would come less than a month before a December 31 interest payment by Argentina on the bonds is due.

Citigroup has said it faces regulatory and criminal sanctions by Argentina, which defaulted again in July, if it cannot process the country's interest payments on US dollar-denominated bonds issued under Argentine law.