US moves to back Argentina

The US government moved to support Argentina yesterday in its bid to sway an appeals court to reconsider a ruling that would force the country to pay “holdout” creditors owning bonds in default since 2002.

Lawyers for the US government yesterday filed a motion requesting that the 2nd Circuit allow them time to consider whether to file a friend-of-the-court brief backing Argentina’s petition for a rehearing of their case.

“Any such filing would require approval by the Solicitor General of the United States,” the US attorneys wrote, adding that if granted they would do so by December 28.

Separately yesterday, the Second Circuit granted a motion by a group of exchange bondholders —including Gramercy Funds Management LLC— to consolidate their appeal of Griesa’s November order with Argentina’s bid for a rehearing of the Second Circuit’s October decision.

Reuters