Argentina has repeatedly ignored the rulings of US courts in its 15-year dispute with creditors. Now it faces a deadline in days which could see it paying US$15 billion to settle the dispute or flying in the face of court rulings once more and having government property abroad seized.

ARGENTINA’S government is approaching a critical stage within days in resolving its 15-year dispute to restructure its debt.

The next date to pay creditors is June 30, 2014, and, in addition to the regular interest payment, the government could have to pay as much as US$15 billion - half the central bank’s reserves.

It will either have to enter negotiations ...

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Dr. Joseph S. Tulchin
Argentina is a serial defaulter and a terrible debtor. There are few cases of governments declaring publicly, as Argentina did in very harsh terms, that they would never abide by the decision of a court in a specific case involving contractual disputes
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