NEW YORK, July 25 (Reuters) – Argentina, out of legal
options to avoid paying a court-awarded $1.33 billion plus
interest to holdout creditors who twice spurned a restructuring
offer, has until July 30 to either pay them, negotiate a
settlement or default.
The parties have not yet met face-to-face despite the
addition of a court-appointed mediator who has warned time is
running short for Argentina to avoid a default.
NEW YORK/BUENOS AIRES (Reuters) – Argentina failed to reach a breakthrough with the U.S. court-appointed mediator in its battle with holdout creditors on Friday in talks that lasted just an hour, suggesting a settlement to avoid a default next week remains elusive.
The Argentine delegation headed home to seek instruction from the government after the talks in New York, mediator Daniel Pollack said, while the country’s economy ministry underscored it would continue the dialogue with him over the next few days.
NEW YORK (Reuters) – Less than a week before Argentina could default on its sovereign bonds, the government and holdout creditors have yet to meet face-to-face despite an urgent plea from the U.S. court-appointed mediator on Thursday that they start direct talks.
“The issues separating the parties remain unresolved at this time. The time for the Republic to avoid default (July 30) is short,” mediator Daniel Pollack said in a statement following three hours of shuttle diplomacy.
NEW YORK, July 24 (Reuters) – Representatives for holdout
investors and Argentina in the country’s ongoing debt default
met for about three hours with a court-appointed mediator in New
York on Thursday, less than a week before Argentina could once
Several members of Argentina’s delegation left the Manhattan
office of special appointee Daniel Pollack around 3:30 p.m. EDT
(1930 GMT) but declined to comment on the talks. Edward
Friedman, a lawyer for Aurelius Capital Management, one of two
leading holdouts, emerged shortly after, also without
NEW YORK (Reuters) – Argentine debt holdout investor Mark Brodsky refuted a story in Argentina’s La Nacion newspaper suggesting his group, which is negotiating a settlement with the government, will ask a U.S. judge to suspend his payment order ahead of a July 30 deadline.
Brodsky is the chairman of Aurelius Capital Management, one of the lead holdout investors in the case which awarded them $1.33 billion plus accrued interest. Argentina was ordered to pay the holdouts at the same time it paid bondholders who accepted an exchange, or restructuring, of defaulted debt in 2005 and 2010.
NEW YORK, July 24 (Reuters) – Argentine debt holdout
investor Mark Brodsky refuted a story in Argentina’s La Nacion
newspaper suggesting his group, which is negotiating a
settlement with the government, will ask a U.S. judge to suspend
his payment order ahead of a July 30 deadline.
Brodsky is the chairman of Aurelius Capital Management, one
of the lead holdout investors in the case which awarded them
$1.33 billion plus accrued interest. Argentina was ordered to
pay the holdouts at the same time it paid bondholders who
accepted an exchange, or restructuring, of defaulted debt in
2005 and 2010.
BUENOS AIRES/NEW YORK, July 18 (Reuters) – A lead holdout
investor in Argentina’s debt row said on Friday the South
American country seemed determined to default, after market
gossip of a possible breakthrough sent Argentine bonds higher.
NML Capital Ltd, a unit of Elliott Management Corp suing for
full repayment on its bondholdings, said Argentine officials
refused to meet or negotiate ahead of a July 30 deadline.
NEW YORK (Reuters) – The downing of a Malaysian passenger jet over eastern Ukraine on Thursday is likely to keep fixed income investors shunning Russia, and eastern Europe more broadly, in favor of other emerging markets.
The eruption of conflict earlier this year over Ukraine’s borders and subsequent economic sanctions against Russia has caused a sharp drop-off in corporate debt issuance from Eastern Europe, including Russia, and massive capital flight from that country.
NEW YORK, July 18 (Reuters) – U.S. Treasuries held steady on
Friday, taking in stride a weaker-than-expected U.S. consumer
sentiment survey and holding onto the safe-haven flows stemming
from the escalation of tensions in Ukraine and Israel in the
last 24 hours.
The preliminary July Thomson Reuters/University of Michigan
reading of consumer sentiment showed an index dropping to 81.3,
below both the consensus analyst expectation of 83 and the final
June read of 82.5.
NEW YORK, July 17 (Reuters) – U.S. Treasury prices rose on
Thursday as investors sought a safe haven after news a Malaysian
passenger plane came down over eastern Ukraine, an area of
increasing conflict between the government and pro-Moscow
The move up in prices resulted in yields on the benchmark
10-year Treasury falling in their steepest one-day drop since
early February, according to Reuters data.