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Citigroup struck down in battle between hedge funds, Argentina

Ruling also leave Argentina with limited options to raise money from banks

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US District Court Judge Thomas Griesa has allowed Citigroup to make a US$5 million payment to a small group of investors holding bonds that had been issued under Argentine law.

New York

THE nasty battle between Argentina and a group of New York hedge funds has claimed another victim: Citigroup.

The bank said on Tuesday that it would shut its custody business in Argentina after a federal judge in New York last week rejected its request to lift an order...

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