Court Ruling Sets Back Bunge’s Rescue of Argentina Soy Exporter

A ruling by a high court has set back a distressed takeover by Bunge Global SA of Vicentin SAIC, once the crown jewel of Argentina’s massive soybean-processing industry.

Five of the six judges in the supreme court of Santa Fe province — where family-run Vicentin filed for bankruptcy protection nearly five years ago after a $1.5 billion default — ruled on Tuesday to take on a complaint by a hostile creditor.

The justices will now need more time to analyze the hypothesis of the complaint: that a decision by a lower court to greenlight a Vicentin-brokered deal with a ...