Argentina sues Citibank over deal with holdout creditors

April 8, 2015 4:13 PM

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Argentina sues Citibank over deal with holdout creditors

BUENOS AIRES (Reuters) - Argentina is suing Citibank Argentina for striking a deal with a group of U.S. creditors fighting the government over unpaid debt, its economy minister said on Wednesday, marking a fresh low in deteriorating relations between it and the bank.

Citibank Argentina, a subsidiary of Citigroup (C.N), has found itself at the center of a lengthy court battle after the government demanded it process interest payments on exchanged debt, in defiance of U.S. court orders.

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