Holders of defaulted Argentine bonds opposed a request by holders of restructured bonds to let a New York appeals court clarify what the equal treatment provision of the securities contracts means.
The request to have the U.S. Court of Appeals in New York certify the question to the state appeals court for interpretation is “patently inappropriate,” Elliott Management Corp.’s NML Capital Fund said yesterday in a court filing.
NML Capital last year won a decision by a federal judge in New York that Argentina has to pay owners of its defaulted bonds if it goes forward with payments to investors who traded in defaulted bonds for restructured ones. Argentina appealed the ruling to the federal appeals court where holders of the exchange bonds filed a request for state court review.
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