Argentina asks top US Court to stop 'catastrophe'

BUENOS AIRES, Argentina (AP) — Argentina filed a long-shot appeal to the U.S. Supreme Court on Tuesday asking the justices in Washington to avert an “economic catastrophe” by overturning lower court rulings that could force the South American government to default on billions of dollars in debts.

Making Argentina pay cash in full to investors who didn’t accept bond swaps in exchange for defaulted debt could destabilize the global economy by making other voluntary debt restructurings “substantially more difficult, if not impossible,” the petition said.