Bondholders lose bid to lift stay in Argentina litigation
NEW YORK Nov 1 (Reuters) - A U.S. appeals court declined Friday to lift a freeze on an order requiring Argentina to pay $1.33 billion in favor of bondholders suing for repayment in the wake of the country's 2002 default.
The 2nd U.S. Circuit Court of Appeals in New York denied a motion to lift a stay it issued in favor of Argentina pending U.S. Supreme Court review of a ruling in favor of holdout bondholders.
The request to lift the stay was made Oct. 15 by bondholders led by hedge funds Elliott Management Corp's NML Capital Ltd and Aurelius Capital Management LP.
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