While Argentina has a debt problem, the issue isn’t quite as simple as the burden recently seen creeping up on nations such as the US, or Greece.

Argentina solved that problem 10 years ago by defaulting on more than $80 billion in debt.

Such a simplistic solution, has generated complex complications for the nation. As Cristina Fernández is poised for another run at leading the nation after garnering over 50% of the vote, Argentina is trying to maneuver in a web of difficulties facing a country who’s credit credibility disappeared along with the country’s willingness to pay back national debt. There are no bankruptcy laws for nations, and 10 years after defaulting, Argentina is still in the courts fighting with their creditors.

While Argentina has managed to settle the majority of its delinquent debt with creditors by paying an unheard of 25–35% of the original value in new bonds, some creditors have refused to accept those terms. In 2008, President Cristina initiated negotiations to attempt to resolve the remaining 24% of debt owed to creditors following the record setting default.

One of the largest groups still holding out for a better rate is a group of 60,000 individuals based out of Italy which happens to be one of the largest immigrant populations in Argentina.

While these groups are still holding out for more of their original investment, it remains unclear the extent to which Argentina will be able to return to traditional participation in the world of global finance. These fights are in many ways uncharted territory legally, and legal battles have been nothing if not creative, and tenacious.