The Argentine government reached an agreement on Monday with five more funds to pay creditors $ 250 million and 185 million euros in its strategy to settle a lawsuit new York for its debt default, announced the judicial mediator Daniel Pollack.
“I am pleased to report that the Republic of Argentina has reached early agreement with five other bondholders for an approximate total of 250 million and 185 million euros, “Pollack said in a statement Monday.
the funds in question are” Lightwater Corp, Old Castle Holdings, VR Capital, Procella Holdings and Capital Ventures International ” he said.
the agreements are part of the offer presented on 5 February by the new government of center-right president Mauricio Macri to pay 6,500 million (of a total of 9,000 million) funds “vultures “and other creditors to end the trial for the debt in default since 2001.
EM Limited Partners and Montreux, two of the six major hedge funds that won a judgment trials in New York were the first to accept the offer, which will charge 849,200,000 and 298,660,000 dollars, respectively.
Then, a group of plaintiffs in a class action, whose exact size is still unknown, also came agreement and other creditor, Capital Markets Financial Services, which charged $ 110 million.
However, other prosecutors and two toughest funds NML and Aurelius Capital, which in 2012 achieved a favorable ruling to collect a debt that now totals 1,750 million, have rejected the proposal for now.
Monday’s announcement came after the US federal judge Thomas Griesa indicate Friday that under conditions would remove his orders against Argentina, when responding to a defense request to move forward with its offer.
the previous center-left government of Cristina Kirchner (2007-2015) had rejected failures Griesa, who in July 2014 froze payment of 539 million dollars in New York to the bondholders who had joined swaps 2005 and 2010, causing a partial default of Argentina.
These restructurings, rejected by the so-called funds “vultures” and other complainants were accepted at the time by 93% of creditors and included major remove
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