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Argentina officials willing to talk with holdout creditors-lawyer
June 18, 2014 / 6:45 PM / 3 years ago

Argentina officials willing to talk with holdout creditors-lawyer

NEW YORK, June 18 (Reuters) - Argentine officials have expressed a willingness to negotiate with holdout creditors to end their long-running bond dispute, a lawyer for the country said at a New York court hearing on Wednesday.

“I have been told the plan is to be here next week to negotiate with the holdouts to resolve this situation,” the lawyer, Carmine Boccuzzi, told U.S. District Judge Thomas Griesa at the hearing. Boccuzzi later said, though, that “an exchange offer is not happening at this time.”

Griesa has ordered Argentina to pay $1.33 billion to the holdout creditors, who did not participate in two prior bond restructurings with the country.

Argentina has refused to pay the holdouts, raising the specter of a possible default.

The judge said at the hearing: “What I want is a legal mechanism to prevent another situation where the Republic can laugh off another judgment.” (Reporting by Nate Raymond in New York; Editing by Chris Reese)

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