Thursday, July 24, 2014

Argentina, vulture funds meeting ends in NY

US court appointed mediator in the Argentine debt crisis Daniel Pollack leaves the US Federal Courthouse in New York.

After three hours, Argentina and vulture funds representatives emerged from their meeting in New York with appointed mediator Special Master Daniel Pollack.

The meeting started at 1.30pm and finished at 4.30 pm (Argentine time). Representatives left without making any comments, and there is no further information on a possible new meeting.

This was the first time representatives of the parties involved in the 1.3 billion dollar legal dispute were to sit at the negotiating table face-to-face, having both only met separately with mediator Pollack.

As ordered by US Judge Thomas Griesa, both sides met today in a race against the clock to reach a settlement before next Wednesday.

The meeting was originally scheduled for yesterday, but according to Mr. Pollack Argentina’s defence could not make it in time to the meeting that had been set for yesterday at 11 am.

Both parties arrived in the mediator’s office on the 27th floor at 245 Park Avenue around 1.30 pm.

The Argentine delegation was formed by officials from the Economy Minister: Treasury Procurer Angelina Abbona, Finance Secretary Pablo López and Legal and Administrative Secretary Federico Thea.

Meanwhile, President Cristina Fernández de Kirchner was meeting with Economy Ministrer Axel Kicillof to continue discussing the negotiation with holdouts over the defaulted debt, after speaking with the Argentine delegation in New York.