U.S. Supreme Court considers hearing Argentina bonds case

The U.S. Supreme Court is due to discuss September 30 whether to hear an appeal by Argentina over its battle with hedge funds that refused to take part in two debt restructurings that followed the country's 2002 default. Argentina is appealing an October 2012 ruling by the 2nd U.S. Circuit Court of Appeals in New York in which the court said the government had broken a contractual obligation to treat bondholders equally. In 2005 and 2010, creditors holding 93% of Argentina's debt agreed to participate in debt restructurings that gave them 25 cents to 29 cents on the dollar. But bondholders led by NML Capital and Aurelius Capital Management went to court, seeking payment in full.