Anarcho-Capitalist NEWS: Argentina told to pay hedge funds $1.3b; No more sovereign immunity, statist motherfuckers

Argentina will have to pay $1.3bn to hedge funds that refused to restructure their debts after the country's 2001 default when it makes regular payments to its restructured bondholders in December, a US court has ordered.

Anarcho-Capitalist NEWS: Argentina told to pay hedge funds $1.3b; No more sovereign immunity, statist motherfuckers 121015041105ghanaargent

The ruling, made late on Wednesday in New York, raises the possibility that Argentina will default once more, and if upheld represents a major chink in the armour of sovereign immunity against creditors that has largely reigned in international law for almost a century.

US District Court Judge Thomas Griesa first made the order earlier this year, which after appeals was unexpectedly largely affirmed by the US federal appeals court on October 26.

The case was then sent back to the original judge to clarify certain aspects, such as how much was due to the funds, led by Elliott Associates, an aggressive hedge fund that has made suing countries its hallmark.

"It is hardly an injustice to have legal rulings which, at long last, mean that Argentina must pay the debts which it owes," Judge Griesa said in an updated opinion. "After 10 years of litigation this is a just result."

More controversially, the judge largely reaffirmed the extent that third parties would be affected by his order.

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Anarcho-Capitalist NEWS: Argentina told to pay hedge funds $1.3b; No more sovereign immunity, statist motherfuckers

Anarcho-Capitalist NEWS: Argentina told to pay hedge funds $1.3b; No more sovereign immunity, statist motherfuckers

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