Debt settlement

A woman walks past a currency exchange store with an Argentine national flag on display in Buenos Aires' financial district on August 14, 2014

How a New York court got to dictate terms to a entire country

Finance

Argentina has South America’s third-largest economy, but many of its financial decisions are now subject to the review of a New York court. That’s because Argentina turned to American firms to borrow money, and the US legal system now gets to decide how its debts will be handled.

Bankruptcy 101

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