Statement Of Daniel A. Pollack, Special Master In Argentina Debt Litigation, Feb. 18, 2016

18 Feb, 2016, 19:36 ET from Daniel A. Pollack

NEW YORK, Feb. 18, 2016 /PRNewswire/ -- Daniel A. Pollack, Special Master presiding over settlement negotiations between the Republic of Argentina and its Bondholders, issued the following statement tonight:

I am pleased to report that the Republic of Argentina has reached an Agreement in Principle with Capital Markets Financial Services, one of the "me-too" Injunction Bondholders, for an amount in excess of $110 million. This settlement is within the framework of the February 5 Proposal by the Republic of Argentina and is part of the $6.5 billion estimated by Argentina as the cost of settling with the Injunction Bondholders. As with all other Agreements in Principle reached to date, it is subject to two conditions: first, approval of the settlement by the Argentine Congress, including the lifting of the Lock Law and the Sovereign Payment Law, and, second, the lifting of the Injunction by Judge Griesa.  I will have no further statement about this development tonight.

SOURCE Daniel A. Pollack