Argentina Congress passes debt law to skirt U.S. court ruling | Reuters

If creditors refuse to participate in plan, the government can under the new law try to replace the Bank of New York Mellon Corp, the trustee for bond payments, with Nacion Fideicomisos, a unit of state-controlled Banco Nacion.

That way, it can service its debt locally.

via Argentina Congress passes debt law to skirt U.S. court ruling | Reuters.

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