Argentina special master announces $6.7 million of bond settlements

By Caroline Salls

Pittsburgh, March 4 – The special master for the Republic of Argentina’s bonds litigation said Friday that “Argentina has continued to reach agreements in principle with its bondholders, large and small,” including 10 new agreements in principle for a total of $6.7 million of settlements.

Special master Daniel A. Pollack said in a news release that the settlements are all conditioned on the Argentine Congress’ lifting of a Lock Law and Sovereign Payment Law, as well as injunctions that have been in place for several years. Although the court has conditionally agreed to lift the injunctions, Pollack said that order has been appealed.

According to the release, the latest settlements were reached with both funds and individual bondholders.

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