Argentine Bondholders Can Bag More Interest: NY Court

Law360, New York (June 30, 2011, 3:37 PM EDT) -- New York's highest court ruled Thursday that investors are entitled to additional interest on the late interest payments Argentina must make on hundreds of millions of dollars in bonds on which it defaulted.

The appeal to the New York Court of Appeals stemmed from a slew of bondholder lawsuits seeking recovery on floating rate accrual notes worth $200 million in principal, issued by Argentina in 1998, three years before the country's collapse caused it to default as interest rates skyrocketed.

The appeals court answered questions certified...
To view the full article, register now.