Argentina Needn't Post Deposit For Injunction Stay: 2nd Circ.

Law360, New York (December 4, 2012, 7:10 PM EST) -- The Second Circuit refused Tuesday to make Argentina pay a security deposit as a condition of a stay of an injunction that prevents payments to bondholders who participated in the country's debt restructuring unless the country pays holdout investors the money they're owed.

The appeals court denied the motion by the holdout bondholders requesting that Argentina put up a $250 million deposit as a condition of the stay. They wanted a court order forcing the country to pay the security before its $3 billion payment to...
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