NY judge scolds Argentina, but no contempt order

NEW YORK (AP) — A federal judge in Manhattan on Thursday said Argentina’s plans to evade his orders by failing to make required payments to U.S. bondholders is illegal and cannot be carried out, but he stopped short of finding the South American nation in contempt of court.

U.S. District Judge Thomas Griesa called Argentina’s actions toward U.S. bondholders “lawless.” However, he rejected requests by lawyers for U.S. hedge funds to make a contempt finding, saying he wanted everyone to concentrate on an eventual settlement.