September 24, 2014 / 8:36 PM / 5 years ago

CORRECTED-(OFFICIAL)-U.S. judge sets Monday contempt hearing for Argentina

(Corrects day of hearing to Monday from Friday throughout story due to official correction)

NEW YORK, Sept 24 (Reuters) - A U.S. judge on Wednesday ordered Argentina to show why it should not be held in contempt for violating orders favoring creditors who refused to accept restructured bonds following the country’s 2002 default on $100 billion.

U.S. District Judge Thomas Griesa in Manhattan federal court scheduled a hearing for Monday at 3 p.m. EDT (1900 GMT) at the request of the holdout bondholders, who have asked the judge to find it violated his orders.

An order by the judge said Argentina, which defaulted again in July after refusing to pay the holdouts, must show why it should not be ordered to come into compliance with the orders and sanctioned $50,000 per day.

An order issued earlier by Griesa had listed the hearing for Friday, but a clerk said the actual day was now Monday. (Reporting by Nate Raymond in New York; Editing by Diane Craft and Chizu Nomiyama)

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