Griesa says Argentina’s swap plan is illegal

Griesa says Argentina’s swap plan is illegal

Argentina Bonds

US District Judge Thomas Griesa on Thursday ordered Argentina not to proceed with a plan to swap restructured bonds under New York law for local saying the deal would be “illegal”. Instead, Judge Griesa urged the Argentine government and holdout creditors to continue negotiating with court appointed mediator Daniel Pollack. Argentine state-run media reported Griesa as saying he was confident that the parties will reach an agreement “sooner rather than later”. Argentina’s voluntary swap proposal

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