Argentina to propose U.S. hedge fund dispute solution week of Jan. 25

By Caroline Salls

Pittsburgh, Jan. 14 – The Republic of Argentina’s financial secretary participated in the first mediation meeting with “holdout” creditors, according to a news release.

The meeting was held by mediator Dan Pollack, who was appointed by U.S. district judge Thomas Griesa.

According to the release, the Argentine government pledged to raise a proposed solution during the week of Jan. 25 to the legal dispute with hedge funds that sued the country in the United States.

The republic also said it hopes the creditors will present their own negotiating proposal at that time.

Last month, Pollack said he met with new Argentina secretary of finance Luis Caputo to introduce himself and met with representatives for the holders of $10 billion of judgments against Argentina, although no negotiations regarding the debt litigation were held at either meeting.

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