Argentina's Congress passes debt restructuring law

BUENOS AIRES, Sept 11 Thu Sep 11, 2014 4:42am EDT

BUENOS AIRES, Sept 11 (Reuters) - Argentina's Congress gave final approval on Thursday to a law proposing to restructure the country's debt in order to skirt a U.S. court ruling that toppled it into its second default in 12 years.

The lower house of Congress passed the debt restructuring plan by an early-morning vote of 134 to 99 following a marathon debate that started Wednesday afternoon. The bill had already been approved last week by Argentina's Senate.

The law enables Argentina to make payments on its foreign-held bonds locally, or elsewhere beyond the reaches of the U.S. court. The bill also pushes investors to move their Argentine debt from the United States to a new jurisdiction. (Reporting by Alejandro Lifschitz; Writing by Sarah Marsh; Editing by Toby Chopra)

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