Despite a New York federal court order prohibiting Argentina on paying its restructured debt before its holdout investors, the country just deposited $832M towards its restructured debt, as not to default before its Monday deadline.
"Complying with a ruling doesn’t exempt us from honoring our obligations," says Argentine Economy Minister Axel Kicillof. "Argentina will meet its obligations, will pay its debt, will honor its promises."
Holdout investors were peeved by the move, and the violation of the court order. Argentina had previously looked for a court stay until it could find the payments for the creditors.
The ruling still prevents third party agents from distributing the funds unless the holdout investors are included with the payments.