Argentina To Continue Mediator Talks Friday, Cites ‘Important Advance’

Jul 9 2014 | 6:21am ET

Argentina will continue its talks with a court-appointed mediator this week as it seeks to avoid its second default in 13 years.

The country’s economy minister, Axel Kicillof, met with Daniel Pollack for four hours in New York on Monday. At the meeting, which did not include the hedge-fund holdouts from Argentina’s debt restructuring, he pressed for more time, demanding that U.S. District Judge Thomas Griesa, who appointed Pollack and who has ruled that Argentina must pay the holdouts in order to continue paying its performing debt, suspend his order while the country negotiates with the hedge funds.

Kicillof called the talks “an important advance,” and will return to New York on Friday to continue his talks with Pollack. It is unclear whether the holdouts, led by Elliott Management and Aurelius Capital Management, will be invited this time.

“It was agreed to continue the meeting on Friday,” Argentine Cabinet Chief Jorge Capitanich said. “It has been an intense dialogue.”

Argentina missed a $539 million debt payment last on June 30, beginning a 30-day grace period before it formally defaults.


In Depth

Q&A: Pantheon’s McCrary Says Private Equity Market ‘Robust’

Dec 17 2014 | 8:32am ET

Dennis McCrary is a partner at Pantheon, a private equity firm with $32.2 billion...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.