Blow to Argentina in debt showdown: US appellate court denies full rehearing of order to pay

A U.S. appellate court has dashed Argentina's hopes for a full rehearing of a judge's ruling that it must pay $1.3 billion to the bond investors it calls "vulture funds." Tuesday's ruling denying a rehearing by the full U.S. Second Court of Appeals means Argentina's ongoing appeal will be decided by the same three-judge panel that already mostly ruled against the South American government.

The denial was issued without explanation, in a terse three-sentence order from the full appellate court.

Argentina has until midnight Friday to explain just how it proposes to pay its debts to NML Capital Ltd.