Argentina Wins Stay On Court-Ordered Bond Payments

Law360, New York (November 28, 2012, 8:49 PM EST) -- Argentina and a group of bondholders won a victory in the Second Circuit Wednesday, when the court stayed an order preventing the nation from paying interest to the bondholders unless it first paid other bondholders who have refused to go along with a restructuring of the country's $80 billion in defaulted debt.

Wednesday's order marked a victory for Argentina and the exchange bondholders group, who earlier in the day won court approval to join the country in its defense against the holdout bondholders.

"The Second Circuit’s...
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