Argentines, bond holdouts seen emerging from NY meeting: witness

Fri Jul 11, 2014 7:14pm EDT

New York financial trial lawyer Daniel Pollack exits the U.S. District Court for the Southern District of New York in Lower Manhattan, June 27, 2014.  REUTERS/Brendan McDermid

New York financial trial lawyer Daniel Pollack exits the U.S. District Court for the Southern District of New York in Lower Manhattan, June 27, 2014.

Credit: Reuters/Brendan McDermid

(Reuters) - Argentine officials and representatives for the holdout investors it has battled for years over its catastrophic 2002 default were seen emerging from the offices of a court-appointed mediator in New York on Friday, according to a Reuters witness.

The Argentine government had dispatched a team of technocrats to the meeting at the New York office of Daniel Pollack, who was appointed last month to mediate the dispute with holdout creditors Elliott Management Corp and Aurelius Capital Management.

It was not clear if the parties had actually met simultaneously with Pollack. Until now, Argentine officials have refused to conduct any direct discussions with the holdouts.

Argentina needs to seal a deal before a July 30 deadline with investors who rejected its debt restructurings after it defaulted 12 years ago on $100 billion. Without a deal, Latin America's No. 3 economy risks tumbling into a new default as it battles a recession, one of the world's highest inflation rates and dwindling foreign reserves.

(Reporting By Dan Bases; Writing by Dan Burns; Editing by Diane Craft)

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