Argentine officials will seek next week to negotiate for the first time with hedge funds that refused to take part in its debt restructuring, a lawyer for the country said in Manhattan federal court yesterday, potentially bringing the country closer to resolving a years-long legal battle, Reuters reported yesterday. "I've been informed by Argentina that the authorities will be in New York next week and want to negotiate with the holdouts," said Carmine Boccuzzi of Cleary Gottlieb Steen & Hamilton at a hearing before U.S. District Judge Thomas Griesa in Manhattan. Griesa had ordered Argentina to pay the holdout funds $1.33 billion at the same time it pays bondholders who participated in the 2005 and 2010 restructurings of Argentina's $100 billion of bonds. The restructured bond holders are due a payment on June 30. If the payment isn't made, Argentina would enter a technical default on the restructured debt.
http://www.reuters.com/article/2014/06/18/us-argentina-debt-idUSKBN0ET1…
For more on the Argentinian debt crisis, the Supreme Court's ruling and what happens next, make sure to attend Friday's Cross-Border Symposium on Friday in New York. The program will feature a keynote by James Millstein, who will discuss Argentina's debt situation. Millstein, chairman and CEO of Millstein & Co., represented the Republic of Argentina in connection with the exchange offer for its international bond indebtedness.
http://www.abiworld.org/CB14/