Argentina Denied En Banc 2nd Circ. Review In Bond Case

Law360, New York (March 26, 2013, 6:36 PM EDT) -- The Second Circuit on Tuesday shot down Argentina's request for an en banc rehearing of a panel's finding that it owes $1.4 billion to bondholders after a 2001 default on its sovereign debt and should be barred from paying off other debt first.

Argentina had argued that the panel's Oct. 26 ruling, which ordered it to pay private equity firm NML Capital Ltd. and other investors who opted out of restructuring offers Argentina extended in 2005 and 2010, will make voluntary debt restructuring by sovereign nations...
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