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This was fought in a US court? Why not in an Argentine court? Why do they need to comply with a court ruling in another country? (Unless the bonds were sold on that basis?)

The governing law of the bonds they sold was New York law.

They would not have been able to sell the bonds otherwise.

They agreed to abide by the law of the contract.

They need to comply with the US court ruling if they ever want to borrow money on the global market again.

Actually, what's kind of interesting is that if you follow the Argentinian government's arguments, what they are essentially saying is: "We wrote the payout contracts under the laws of the state of New York, but it was in bad faith. We've always believed we didn't have to pay these bondholders if we didn't want to, under sovereign immunity."

And it is clear that the Argentinians are acting in bad faith. The people they're calling "vultures" have repeatedly said they're willing to negotiate and restructure this debt, and the Argentinians have refused to talk to their creditors? Why? Because that's what Leftists do.