Latest News Wires U.S. judge holds Argentina in contempt of court (+video)

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.