Argentina: US judge blocks bond payments

THE US judge in charge of Argentina’s debt default case ordered Bank of New York Mellon on Wednesday to hold on to money deposited by the government rather than disburse the funds to holders of the country’s restructured bonds. The move by US District Judge Thomas Griesa came after Argentina earlier in the day had demanded the intermediary bank deliver $539 million (R5.7 billion) in bond payments that were due in June but blocked by previous court rulings. Argentina defaulted on its sovereign bonds last week. – Reuters