Argentina Must Cough Up Extra Bond Interest: 2nd Circ.

Law360, New York (August 17, 2011, 4:06 PM EDT) -- The Second Circuit ruled Wednesday that Argentina must pay additional interest on top of late interest payments on hundreds of millions of dollars in bonds it issued, after New York's highest court found that bondholders suing for recovery were entitled to the additional payments.

The ruling affects about a dozen bondholder lawsuits seeking recovery on floating-rate accrual notes worth $200 million in principal that Argentina issued in 1998, three years before the country's collapse caused it to default as interest rates skyrocketed.

The Second Circuit mostly...
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