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Argentina Appeals Contempt Finding For Debt Bypass Plan

Law360, New York (November 4, 2014, 1:30 PM EST) -- Argentina on Monday asked the Second Circuit to overturn a federal judge’s finding that it is in contempt of court for taking steps to evade his orders that bondholders who agreed to debt restructurings can only be paid if holdout hedge funds are also compensated.

The South American nation filed a notice of appeal of the ruling by U.S. District Judge Thomas Griesa in which he found that Argentina’s moves to strip the Bank of New York Mellon Corp. as the trustee for the bonds and its plans to pay so-called exchange bondholders locally without any recognition of the country’s obligation to...

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