Argentina has taken steps to sue the United States at the International Court of Justice over a debt dispute that sent the country into default. In a petition to the U.N. tribunal, Argentina accuses U.S. courts of violating its sovereignty by siding with vulture funds led by billionaire Paul Singer. The hedge funds have demanded full repayment after buying Argentina’s debt for bargain prices after its financial crisis. The lawsuit will only take hold if the United States accepts the U.N. court’s jurisdiction. Argentine President Cristina Fernández de Kirchner announced the suit Thursday.
President Cristina Fernández de Kirchner: “Today a demand was brought before The Hague, which is the international court of the United Nations, against the United States of America for the activity of its judicial power. This is not an action against the country. It simply means that dependent powers or dependent employees of that country have provoked damage or have acted outside of the law, considering the expressions and resolutions of a municipal judge who wants to trample sovereignty.”