BUENOS AIRES, Argentina (AP) Argentina lost its first round at the U.S. Supreme Court on Monday in a crucial battle over bond payments.
Justices refused to hear the country's appeal of a ruling that would force Argentines to either pay about $1.4 billion in cash to a group of hedge funds, or go into default on most of the other bonds issued to make good on debts stemming from the country's 2001 crisis.
The decision was expected, and almost certainly won't be Argentina's last shot at a Supreme Court hearing. Its government still has ways of delaying a final result from U.S. courts for months.
"Argentina will keep exercising its right to defend itself with all available resources," Finance Secretary Adrian Cosentino said Monday.
Argentina has already asked the U.S. 2nd Court of Appeals in New York to assemble a full "en banc" rehearing of the finding by one of its three-judge panels, and Consentino noted that a stay remains in place meanwhile.