February 27, 2013 / 9:26 PM / 4 years ago

BRIEF-Argentina says cannot be coerced to pay holdout bondholders

2 Min Read

Feb 27 (Reuters) - Bank of New York Mellon Corp : * Lawyer for Argentina says "we are very interested in serving our performing

debt" -- New York court hearing * Lawyer for Argentina says idea that injunction can coerce Argentina to pay

holdout bondholders "is just not going to happen" * One judge on three-judge U.S. appeals court panel says is "more than curious"

why Argentina did not make "good faith effort" to put money for holdouts in

escrow * Lawyer for Argentina exchange bondholders says "we don't want to have our

private contractual rights interfered with" * Judge says "hardly seems appropriate" for court not to enforce order for

Argentina to pay holdouts if it suspects this will cause country not to pay

other bondholders * Judge says court's role is to enforce contracts, not rewrite them * Lawyer for Argentina exchange bondholders says clients would lose their

"unconditional, undisputed," contractual right to payments if holdouts win * U.S. appeals court hearing in Argentina bond dispute ends with no immediate

ruling

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