UPDATE 1-Argentina asks U.S. judge to put debt payment order on hold

lunes 21 de julio de 2014 18:13 GYT
 

(Adds Argentina appeal of June 20 ruling)

By Nate Raymond

NEW YORK, July 21 (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.

The request is not the first time Argentina has asked for a stay, which U.S. District Judge Thomas Griesa has previously denied.

Argentina separately filed a notice of appeal of a June 20 ruling by Griesa that prevented it from going through with a proposal by the country's economy minister to swap bonds governed by New York law for those under local jurisdiction.

On Tuesday, Griesa is expected to hear a range of requests by Argentina, bondholders and financial institutions over how to enforce his ruling requiring payment to the holdouts.   Continuación...