BUENOS AIRES, Argentina – The winners of a decade-long debt battle have asked a judge to deny Argentina's request for more negotiating time to avoid a catastrophic default.
The plaintiffs say Argentina must first show it's serious about paying the judgment by June 30. With interest, the bill has grown to $1.65 billion.
Lawyers for NML Capital Ltd. told U.S. District Judge Thomas Griesa in Manhattan Tuesday that given more time, Argentina will only try to evade the court's orders.
Argentina said the deadline could provoke a default that could sink the nation's economy and cause global financial havoc.
But the plaintiffs say that if Argentina pays up by Monday, it won't have any problems resolving the rest of its debts with the majority of its other bondholders during a 30-day grace period thereafter.