US court seeks precise payment plan from Argentina for bondholders

NEW YORK, March 1 (Reuters) - A U.S. appeals court ordered Argentina on Friday to provide "precise terms" for any alternative payment formula it would commit to that would resolve litigation with holders of defaulted bonds seeking to be paid $1.3 billion.

The 2nd U.S. Circuit Court of Appeals entered the order two days after hearing oral arguments in the dispute. The court gave Argentina until March 29 to submit a formula and a timetable for carrying it out.