May 18, 2013
US Court asks Argentina for payment plan
A US appeals court ordered Argentina to provide “in precise terms” any alternative form of payment in which it commits to settle a current dispute with holdout bond investors asking for 1.3 billion dollars.
A Second Circuit Appeals Court gave the order two days after listening to statements coming from both sides of the argument.
The court said Argentina has until March 29th to come up with a solution.
According to the official document, Argentina is due to indicate 1): how and when it plans to abide by the debt obligations over the bonds that have not being paid for 11 years; 2) the interest rate to pay such obligations over the original bonds; and 3) the guarantees, if any, that the government will take any official action and the deadline for such action.