- Citigroup (NYSE:C) urged a U.S. appeals court yesterday to reverse Judge Thomas Griesa's ruling which blocks payments on $8.4B of Argentina's bonds until the country settles with holdout creditors.
- Despite the bank's lawyer's pleas of "a serious and imminent hazard," the three-judge panel seemed unmoved.
- By Sept. 30, Citigroup must choose between defying a New York court order or face regulatory and criminal sanctions from Argentina should it not process the upcoming $5M payment.
- ETFs: ARGT