REFILE-UPDATE 1-Bondholders lose bid to delay lifting Argentina injunctions

miércoles 2 de marzo de 2016 19:20 GYT

(Corrects day of hearing in 5th paragraph to Tuesday)

By Nate Raymond

NEW YORK, March 2 (Reuters) - A U.S. judge on Wednesday rejected a request by Argentine bondholders who reached a $4.65 billion settlement resolving litigation over defaulted bonds to wait longer before lifting injunctions that restrict the country from paying off some debts.

U.S. District Judge Thomas Griesa in Manhattan said while he appreciated arguments by the creditors to wait 30 more days, "circumstances have changed so significantly as to render the injunctions inequitable and detrimental to the public interest."

The ruling itself will automatically be stayed for two weeks to allow for expected appeals. It is conditioned on Argentina repealing two laws concerning its debts and paying creditors who by Monday reached $6.2 billion in settlements with the country.

The creditors include Elliott Management's NML Capital Ltd and Aurelius Capital Management who were part of a $4.65 billion accord announced on Monday.

Despite those deals, NML and other creditors during a hearing on Tuesday urged Griesa to at least wait 30 days on formalizing a Feb. 19 decision in which he indicated he would lift the injunction.

They argued that settlements could fall apart if the remaining plaintiffs, holding 15 percent of the claims in the litigation, are not given a chance to also settle, as they likely would appeal a decision lifting the injunctions.

But Griesa said there was a "pressing need for certainty and finality" for those settlements to succeed and that further delay could "seriously erode" Argentina's ability to raise capital to fund the deals.   Continuación...