New York, October 6 (teleSUR-RHC)-- The 2nd U.S. Circuit Court of Appeals in New York rejected Monday the second appeal to force the New York Bank of Mellon to use the $539 million of defaulted Argentine bonds deposited in 2014 to pay the country's creditors, known as the “vulture funds.”

The New York judge upheld the decision made in October 2014, ruling that Argentina's creditors do not have the right to appropriate these funds. The decision goes against U.S. District Judge Thomas Griesa's initial decision on which bondholders are entitled to make claims and for how much.

This is the third time the New York Court of Appeals has rejected the controversial verdict from Judge Griesa. On August 10, the judge ruled that damages for bondholders have to be pursued individually – not as part of collective judicial action.

The recent ruling in favor of Argentina comes as the country's Central Bank Chief Alejandro Vanoli announced the successful payment of $5.9 billion on its Boden 2015 bonds.