Hedge Funds Pull Plug On $554M Argentina Bond Appeal

Law360, New York (April 12, 2010, 6:55 PM EDT) -- Hedge funds seeking to prevent Argentina from moving securities held in custodial accounts away from Citibank NA withdrew their appeals Monday, having lost a bid for a stay that would have had the effect of treating the assets as U.S. property and aided their quest to collect more than $554 million in judgments.

According to a mandate filed in the U.S. Court of Appeals for the Second Circuit, plaintiff-appellants Aurelius Capital Partners LP, Aurelius Capital Master Ltd. and Blue Angel Capital I LLC asked to have...
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