Argentina must pay a large deposit in a case brought by hedge funds seeking $1.5 billion in compensation for losses in the nation’s growth-linked securities, London’s Court of Appeal ruled.
The South American nation must pay down €310 million ($337 million) before a full appeal is heard. Hedge funds, including Palladian Partners LP, won the case for compensation in a lower court last year. Argentina has until April 5 to deposit the cash in a trustee account, a judge ruled Thursday.