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Judge to Argentina: Settlement 'only avenue' to resolve dispute
August 1, 2014 / 5:08 PM / 3 years ago

Judge to Argentina: Settlement 'only avenue' to resolve dispute

(Reuters) - The judge overseeing Argentina’s dispute with a group of creditors on Friday told lawyers for the country that a settlement is the “only avenue” for the case to be resolved and instructed the parties to keep working with the court-appointed mediator.

In a hearing called in the aftermath of Argentina’s second default in more than 12 years, U.S. District Court Judge Thomas Griesa said: “Nothing that has happened this week has removed the necessity of working out a settlement.”

“The debts weren’t extinguished. There’s no bankruptcy, no insolvency proceedings. The debts are still there,” he said.

Reporting By Dan Burns; Editing by Meredith Mazzilli

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