There is a new twist in the fight between Argentina and a group of hedge funds that has been playing out in New York courts, The New York Times reported yesterday. A U.S. federal court has allowed Citigroup to make interest payments to investors holding $2.3 billion of Argentine bonds due at the end of the month. Citigroup also said that it had been authorized to make another interest payment on June 30. The move, outlined in an order that is expected to be filed in court on Monday, appeared to be a reversal by Hon. Thomas P. Griesa. As recently as March 12, Judge Griesa rejected an appeal by Citigroup to make the March 31 interest payments.
