A U.S. appeals court in New York on Monday narrowed a class of bondholders with claims against Argentina over its defaulted debt.
The 2nd U.S. Circuit Court of Appeals said U.S. District Judge Thomas Griesa had improperly expanded a class of investors who hold certain bonds and are seeking repayment following the country's $100 billion default in 2002.
The appeals court ordered Griesa to return to a narrower definition of the class, limited to those who still hold the bonds in question, and to hold an evidentiary hearing to determine the proper amount of damages.
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