Wednesday, February 24, 2016

Pollack: Lawyer's statement 'violated confidentiality of the discussions'

Daniel A. Pollack, special master in Argentina bonds matter, came on stage this afternoon after Matthew McGill, a lawyer representing lead holdout creditors Elliott Management and Aurelius Capital Management, said they had reached an agreement with Argentina.

The statement released by Pollack's office is the following:

"A lawyer for certain 'holdout' Bondholders made a statement in court this morning to the effect that Argentina and NML had reached an Agreement in Principle on economic terms. That statement violated the confidentiality of the discussions between the parties, which is an inviolable principle of all negotiations through me as Special Master. If and when there is a signed Agreement in Principle reached between those or any other parties, I will announce it as Special Master."