Tags: Argentina | bond | default | court

Appeals Court Declines to Rehear Argentina Bond Case

Tuesday, 26 Mar 2013 02:19 PM

A U.S. appeals court denied Argentina's request Tuesday to have all the judges on its court reconsider a ruling that favored creditors who did not participate in its two debt restructurings.

The 2nd U.S. Circuit Court of Appeals declined to grant an en banc rehearing, in which all 13 of its active judges could have weighed whether to reverse an earlier October appellate decision requiring Argentina to treat all of its bond holders equally.

The ruling follows a separate appeal by Argentina of a November decision by a trial judge ordering Argentina to pay into escrow the full $1.33 billion owed to the holdout bondholders, led by Elliott Management affiliate NML Capital Ltd and Aurelius Capital Management.

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