The New York Post reports that Argentina deposited $539m in BoNY to make its June 30 quarterly payment to bondholders who agreed to debt swaps years ago.
But Manhattan federal court judge Thomas Griesa on Friday forbade the bank from making that payment — citing his ruling that Argentina pay Singer and other holdout bondholders their $1.65bn concurrently.
Meanwhile, Argentina on Wednesday said the bank is continuing to “breach its obligations by not allowing all bondholders to get paid.”
The money sits in a BoNY vault in Buenos Aires — and BoNY is feeling squeezed.
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