US court says Argentina does not need not make $250 mln deposit

NEW YORK Tue Dec 4, 2012 12:43pm EST

NEW YORK Dec 4 (Reuters) - A U.S. appeals court on Tuesday refused to order Argentina to post a security deposit of at least $250 million while it seeks to overturn a lower court ruling that orders it to pay holdout investors $1.33 billion.

Holdout creditors have sought to force Argentina to deposit the money by Dec. 10 while the country appeals last month's order by U.S. District Judge Thomas Griesa that it pay the creditors in full.

The U.S. Second Circuit Court of Appeals has scheduled oral arguments in the case for Feb 27, 2013.