(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