Latest News Wires U.S. judge holds Argentina in contempt of court

US District Judge Thomas P. Griesa said Argentina's repeated efforts to avoid paying US bondholders was illegal conduct that could no longer be ignored.

By , Associated Press

John Minchillo/AP

A judge, calling civil contempt a rarity, ruled that Argentina was in contempt of court on Monday for its open defiance of his orders requiring that US hedge funds holding Argentine bonds be paid the roughly $1.5 billion they are owed if the majority of the South American nation's bondholders are paid interest on their bonds.