2nd Circ. Orders Argentina To Pay $1.5B To Bond Holdouts

Law360, New York (August 23, 2013, 8:52 PM EDT) -- The Second Circuit on Friday said Argentina must pay holders of around $1.5 billion in government bonds who did not participate in a debt restructuring, but said payment could wait until the U.S. Supreme Court decides whether to take on the case.

In a highly anticipated ruling, the Second Circuit found that Argentina is bound by the terms of the original bond offering and has to pay debt holders who did not participate in the restructuring in full whenever they make payments to those bondholders who...
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