Tag: US 2nd Circuit Court of AppealsUS 2nd Circuit Court of Appeals
In an unprecedented move, the International Monetary Fund plans to ask the US Supreme Court to review Argentina's case in a decade-old legal battle with holdout creditors, because of the implications it could have on sovereign debt restructurings.
Two US hedge funds suing Argentina for full payment on defaulted bonds rejected on Friday, President Cristina Fernandez government offer to settle the suit with a deal that would give them approximately 25% of what they were seeking.
A US appeals court gave holders of defaulted Argentina debt three weeks to respond to the country’s proposed plan to pay them much less than the 1.33 billion dollars they have sued to collect.
Argentina's defence urged a US appeals court on Wednesday to come up with a workable solution to its long-running fight with so-called holdout bondholders, and assured the country will not pay an amount exceeding the one set in the debt-swaps.
US appeals court refused to order Argentina to post a security deposit of at least 250 million dollars while it seeks to overturn a lower court ruling that orders it to pay holdout investors 1.33 billion.
Investment funds suing over Argentina's 2002 debt default have asked a US court to order the country to post a security deposit of at least 250 million dollars by December 10, while an appeal of a lower court's order is pending.
Argentina asked a US judge late Friday night to maintain his order blocking payment on defaulted sovereign bonds to holdout investors until lingering questions are settled in a higher court's appeals process.