Daniel Pollack, the mediator appointed by US Federal Judge Thomas Griesa to resolve the judicial dispute between Argentina and the so called vulture funds, announced that today’s meeting has failed and confirmed a new audience for tomorrow at 10.00 am in New York.

Thursday, July 24, 2014

Pollack reveals no advance in talks after meeting with Argentina, vultures

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

Daniel Pollack, the mediator appointed by US Federal Judge Thomas Griesa to resolve the judicial dispute between Argentina and the so called vulture funds, announced that today’s meeting has failed and confirmed a new audience for tomorrow at 10.00 am in New York.

“After speaking with both sides, separately, I proposed and urged direct, face-to-face talks between the parties. The representatives of the Bondholders were agreeable to direct talks; the representatives of the Republic declined to engage in direct talks,” Special Master Pollack expressed through an official communiqué for The Herald.com.

David Brooks, who spoke on behalf Pollack’s representation, affirmed the mediator will lead a new reunion tomorrow.

Mr. Pollack entire press release:

“Representatives of the Republic of Argentina and their lawyers met with me today.

After speaking with both sides, separately, I proposed and urged direct, face-to-face talks between the parties. The representatives of the Bondholders were agreeable to direct talks; the representatives of the Republic declined to engage in direct talks.

The issues separating the parties remain unresolved at this time. The time for the Republic to avoid Default (July 30) is short.

Accordingly, it is my expectation that, consistent with Judge Griesa’s direction in open Court earlier this week, there will be further meetings with the parties over the next several days.”

As ordered by Judge 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.