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U.S. Supreme Court Defers Action on Argentina Bond Appeal

The U.S. Supreme Court deferred action on Argentina’s appeal of a lower court ruling that may force the country to pay holders of billions of dollars of defaulted bonds.

The justices today released a list of new cases they will hear, without mentioning the Argentina appeal. Today’s action doesn’t preclude the court from agreeing later to hear the country’s arguments. The court is scheduled to issue its next list of orders on Oct. 7, the day its new term formally opens.

Argentina’s opponents in the legal fight include NML Capital Ltd., a unit of billionaire hedge-fund manager Paul Singer’s Elliott Management Corp.

The Supreme Court case is Argentina v. NML Capital, 12-1494.

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