2nd Circ. Upholds Stay In $1.4B Argentina Debt Appeal
By Stewart Bishop
Law360, New York (November 3, 2013, 11:17 AM ET) -- The Second Circuit on Friday refused to lift a stay of an order directing Argentina to pay investment firms holding around $1.4 billion in Argentine government bonds who did not participate in debt restructurings, while the U.S. Supreme Court considers reviewing the case.
In a brief two-page order, a three-judge panel for the appeals court refused to vacate the stay. The panel provided no reasoning for its decision.
In a highly anticipated August ruling, the Second Circuit found that Argentina is bound by the terms of...