NEW YORK, June 20, 2020
NEW YORK, June 20, 2020 /PRNewswire/ -- The Ad Hoc Argentine Bondholder Group and the Exchange Bondholder Group are united in our disappointment with Argentina's decision to terminate dialogue with its creditors at what is plainly a critical juncture. Instead, Argentina has created obstacles to a negotiated outcome and has attempted to provoke division—ending what had been a productive negotiation process.
It is apparent when examining the various proposals submitted during the past weeks that all stakeholders made substantial progress towards a consensual restructuring. If we achieve this goal, it would be a success for all involved: avoiding the devastating legal and economic costs of a prolonged default.
Argentina's decision two days ago to walk away from the negotiating table is even more unfortunate given how close we are to a resolution, for which we remain ready to engage constructively.
The Ad Hoc Argentine Bondholder Group is advised by White & Case LLP.
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