Argentina Creditors Must Reply To Payment Plan: 2nd Circ.

Law360, Los Angeles (April 2, 2013, 10:48 PM EDT) -- The Second Circuit on Tuesday ordered Argentinean bondholders who claim the country owes them nearly $1.4 billion to respond by mid-April to a proposed payment plan in which Argentina would give the holdouts restructured bonds worth only a fraction of the money allegedly owed.

In a one-page order, the appellate court told the bondholders — to whom the Republic of Argentina has referred as “vultures” — to file a response no later than April 22 to the proposed alternative payment plan. Argentina claims the plan would...
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