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August 8, 2014

Argentina Seeks to Sue U.S. at the Hague over Debt Dispute 
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Argentina has taken steps to sue the United States at the International
Court of Justice over a debt dispute that sent the country into default.
In a petition to the U.N. tribunal, Argentina accuses U.S. courts of
violating its sovereignty by siding with vulture funds led by
billionaire Paul Singer. The hedge funds have demanded full repayment
after buying Argentina's debt for bargain prices after its financial
crisis. The lawsuit will only take hold if the United States accepts the
U.N. court's jurisdiction. Argentine President Cristina Fernández de
Kirchner announced the suit Thursday.

President Cristina Fernández de Kirchner: "Today a demand was brought
before The Hague, which is the international court of the United
Nations, against the United States of America for the activity of its
judicial power. This is not an action against the country. It simply
means that dependent powers or dependent employees of that country have
provoked damage or have acted outside of the law considering the
expressions and resolutions of a municipal judge who wants to trample
sovereignty."

 

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