Argentina reaches deals with more holdout creditors

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NEW YORK CITY: Argentina reached repayment deals with more holdout creditors on Wednesday (Thursday in Manila) as it seeks to close the door on 15 years of litigation over its defaulted bonds. Daniel Pollack, the New York court-appointed arbitrator in cases involving some $9 billion in claims against the country, said settlement agreements were struck with hedge fund GMO (Boston), French bank BNP Paribas, and a number of individual investors worth a total of $190 million. That took to more than $6.5 billion the amount Argentina has agreed to pay holdout creditors covered by the Pollack-led negotiations.

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