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global securitiesBuenos Aires Herald
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78% Informative
London Court of Appeal rules Argentina must pay 1.3 billion euros ( US$1.5 billion ) as it rejected Argentina 's appeal in the lawsuit over securities linked to the country’s gross domestic product.
The lawsuit was filed by four hedge funds that hold around 48% of GDP-linked securities Argentina issued between 2005 and 2010 .
In January , Argentina was given permission to appeal the ruling by paying US$337 million as collateral.
The case can be traced back to December 2001 when Argentina 's President Adolfo Rodríguez Saá announced suspension of sovereign debt payments.
VR Score
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