July 8, 2014
Argentina’s finance minister Axel Kicillof met Daniel Pollack, a court-appointed mediator, on Monday in a first step towards formal negotiations with holdout creditors. Kicillof told Pollack it was “impossible” to comply with the latest court rulings, and asked for a stay on the latest decision, according to a statement by the finance ministry. Under a US Supreme Court ruling issued last month, Argentina must pay $1.3bn to holdout creditors led by NML Capital before servicing restructured bonds.
Meeting between Argentina’s finance minister and a facilitator could pave the way for formal talks between the country and NML