Argentina faces creditors in court

Argentina squared off with a group of US hedge funds in a court case that has the potential to unravel its deals over the past decade to emerge from a $100bn (€76bn) pile of bad national debt.

The high-stakes legal fight in New York, which revolves around Argentina’s refusal to pay anything to a small group of hold-out creditors owed about 1.3bn (€994m), appeared to be reaching a sort of brink as lawyers representing banks, bondholders, and the republic appeared before the 2nd US Circuit Court of Appeals.