Appeals court grants emergency halt on Argentine bond payment NEW YORK (Reuters) - A U.S. appeals court on Wednesday granted an emergency stay order that gives Argentina more time to argue against making a $1.33 billion payment to investors who rejected two debt restructurings in the nation's 2002 sovereign debt default. The 2nd U.S. Circuit Court of Appeals reinstated a stay on a lower district court's ruling that Argentina must pay the cash into an escrow account by December 15 in a case based upon equal treatment of investors. The appeals court has put off any decision until well into 2013 on whether or not Argentina will have to pay so-called holdout investors who did not participate in the 2005 and 2010 debt restructurings which paid less than 30 cents on the dollar. Both Argentina and bondholders who took part in the exchange filed appeals to the 2nd Circuit. Oral arguments before the court will occur on February 27. Wednesday's decision by the 2nd Circuit effectively halts the order by U.S. District Court Judge Thomas Griesa in Manhattan that could have led to a technical default on approximately $24 billion worth of debt issued in the 2005 and 2010 exchanges. Lead holdout investors Elliott Management Corp and Aurelius Capital Management both declined to comment on the 2nd Circuit's decision. Reporting by Daniel Bases and Basil Katz; Editing by Leslie Adler and Phil Berlowitz