Statement Of Daniel A. Pollack, Special Master In Argentina Debt Litigation, Feb. 22, 2016

NEW YORK, Feb. 22, 2016 /PRNewswire/ -- Daniel A. Pollack, Special Master presiding over settlement negotiations between the Republic of Argentina and its "holdout" Bondholders issued the following statement today:

As Special Master, I am pleased to report that Agreements in Principle have now been reached by the Republic of Argentina with five other Bondholders for a total amount of approximately $250 million plus 185 million Euros. These Bondholders include Lightwater Corp, Old Castle Holdings, VR Capital, Procella Holdings and Capital Ventures International.  I am continuing to work with the Republic of Argentina and all interested Bondholders to help them arrive at Agreements in Principle.  These Agreements in Principle, like all others, are subject to two conditions: first, the lifting of the Lock Law and the Sovereign Payment Law, and second, the lifting of the Injunction by Judge Griesa.  These Agreements in Principle are all within the framework of the February 5 Proposal issued by the Republic of Argentina, available to all Bondholders.  I will have no further comment on this tonight.  

SOURCE Daniel A. Pollack