The Argentine judiciary has imposed an injunction banning Citibank from leaving its position as custodian of restructured debt bonds, while also suspending the application of the agreement signed between the bank and vulture funds.
The 12th Administrative Court upheld the injunction request from the Economy Ministry, and ordered Citibank to «refrain from carrying out any act» designed to comply with the agreement signed with NML Capital and other holdout investors on March 20 and backed by New York district judge Thomas Griesa.
The bank was also ordered to «refrain from taking decisions that entail leaving custody of Argentine Swap Bonds,» according to a statement released this evening by the Economy Ministry.
Source: Buenos Aires Herald