2nd Circ. Won't Send Argentina Bond Contract Issue To NY

Law360, New York (January 10, 2013, 7:14 PM EST) -- The Second Circuit on Thursday said it will not have a New York state court determine the meaning of a contract at issue in litigation brought to force Argentina to honor bond debt it claims was canceled in a restructuring.

The appeals court said in a one-sentence order that it would not send the question of the bonds' order of preference to the New York Court of Appeals, the state's highest court.

Bondholders who support Argentina's restructuring — known as exchange bondholders, since they traded for...
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