(UPDATES with acceptance)
By Davide Scigliuzzo
NEW YORK, July 31 (IFR) - The International Swaps and
Derivatives Association (ISDA) has agreed to consider whether a
credit event has occurred on Argentina's credit default swap
contracts (CDS), according to its website.
Swiss bank UBS on Thursday submitted the request for ISDA's
determinations committee to consider whether a "failure to pay"
credit event has occurred, citing a missed deadline to deliver
interest payments to exchange bondholders.
ISDA's 15-member committee is expected to vote on whether a
payment on Argentine CDS contracts can be triggered in the next
couple of days, according to a source close to the discussions.
(Reporting by Davide Scigliuzzo; Editing by Marc Carnegie)