A U.S. judge says he’ll consider Argentine government assets in the United States as fair game for a hedge fund to seize in a long-standing dispute over the South American nation’s debt.
U.S. District Court Judge Thomas Griesa said that all but diplomatic and military assets will be considered commercial property, making it easier to go after legally. He gave Argentina 10 days to turn over a log listing assets in the U.S.
The dispute goes back to Argentina’s $100 billion default in 2001. Most creditors accepted lower-valued bond swaps in 2005 and 2010. But the hedge funds refused and took Argentina to court in New York and won.
Argentina has not complied with Griesa’s orders, and the funds have tried to seize Argentine assets around the world.