Argentine Bonds

For a number of years Argentina and foreign holders of Argentine bonds have been duking it out in the courts. On Friday a deferral appeals court ruled that Argentina must pay the bondholders. This article states: “The funds may not be in line for a big financial return on their high-risk bet, even after the court victory on Friday. But even if their wager never pays off, the funds’ litigation strategy is bringing important changes to the international market in which many countries borrow to finance their deficits and support their economies.”

http://dealbook.nytimes.com/2013/08/23/hedge-funds-win-ruling-in-argentina-bond-case/?_r=0