Argentina and a group of U.S. holdout creditors announced a deal on Monday in a longstanding debt spat, potentially breaking an impasse that has kept the South American country on the margins of international credit markets and led to a rewriting of the terms of debt issuance and negotiations worldwide.
“It gives me greatest pleasure to announce that the 15-year pitched battle between the Republic of Argentina and Elliott Management, led by Paul E. Singer, is now well on its way to being resolved,” court-appointed special master Daniel Pollack said in a statement.
