The appeals court ordered Griesa to return to a narrower definition of the class, limited to those who still hold the bonds in question, and to hold an evidentiary hearing to determine the proper amount of damages.

Monday, August 10, 2015

US appeals court narrows certain debt claims against Argentina

A US appeals court in New York today narrowed a class of bondholders with claims against Argentina over its defaulted debt.

The 2nd US Circuit Court of Appeals said US District Judge Thomas Griesa had improperly expanded a class of investors who hold certain bonds and are seeking repayment following the country's $100 billion default in 2002.

The appeals court ordered Griesa to return to a narrower definition of the class, limited to those who still hold the bonds in question, and to hold an evidentiary hearing to determine the proper amount of damages.