02/25/2016HOLDOUTS NEGOTIATION
NY Court of Appeals Grants More Time to Elliott Fund to Negotiate with Argentina
THE NEW YORK COURT OF APPEALS GRANTED MORE TIME REQUESTED BY THE ELLIOTT FUND OF TYCOON PAUL SINGER, TO REACH AN AGREEMENT WITH ARGENTINA, AFTER IT REPORTED THAT A SETTLEMENT WAS NEAR.
The Chamber also instructed Judge Thomas Griesa to delay during two weeks his announcement that he could lift the existing legal restrictions against Argentina, a key extra time in the negotiations, that will allow the vulture funds to present new objections to the Argentine offer.
During the hearing, NML lawyer Mattthew McGill informed that the NML, Aurelius, Olifant and others own 65 percent of the total of pari passu court sentences against Argentina.
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