US Court Orders Argentina to Pay $1.4 Billion Over Debt Default

From financial crisis back in 2001


A U.S. appeals court has upheld a ruling ordering Argentina to pay $1.4 billion in a legal battle over the country's massive 2001 default.

The decision was issued Friday by the 2nd U.S. Circuit Court of Appeals in Manhattan. It will be put on hold pending an expected appeal to the U.S. Supreme Court.