Argentina asks U.S. judge to put debt payment order on hold
Source: Reuters
Argentina asked a U.S. judge on Monday to put on hold an order requiring it to pay bondholders who did not participate in debt restructurings following the country's 2002 default, while it seeks a "global resolution."
Ahead of a July 30 deadline to reach a deal or face a new default, Argentina filed papers asking a New York federal judge to stay a ruling that it pay the holdout investors $1.33 billion plus interest.
Argentina, which has been in settlement talks, said any deal must take into account other bondholders and factor in a clause in its restructured bonds that could open it up to further liability.
"As those risks remain, so does the necessity and appropriateness of a stay," Argentina's lawyers wrote.
Read more: http://www.reuters.com/article/2014/07/21/us-argentina-debt-idUSKBN0FQ26E20140721
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