Statement of Daniel A. Pollack, Special Master in Argentina Debt Litigation

NEW YORK, July 24, 2014 /CNW/ -- Daniel A. Pollack, the Special Master appointed by Judge Thomas P. Griesa to conduct and preside over settlement negotiations between the Republic of Argentina and its Bondholders, issued the following statement today:

"Representatives of the Republic of Argentina and their lawyers met with me today. Representatives of the Bondholders and their lawyers also met with me today. After speaking with both sides, separately, I proposed and urged direct, face-to-face talks between the parties.  The representatives of the Bondholders were agreeable to direct talks; the representatives of the Republic declined to engage in direct talks. The issues separating the parties remain unresolved at this time. The time for the Republic to avoid Default (July 30) is short.  Accordingly, it is my expectation that, consistent with Judge Griesa's direction in open Court earlier this week, there will be further meetings with the parties over the next several days."

Mr. Pollack said that he would have no further public comment at this time.

SOURCE Daniel A. Pollack

For further information: Daniel A. Pollack, 212-609-6800