Argentine holdout creditors have $5 bln deal to settle debt dispute-lawyer
NEW YORK Feb 24 (Reuters) - Creditors fighting Argentina in U.S. courts for more than a decade over defaulted debt have reached a $5 billion agreement to settle the dispute, a lawyer representing the investors said on Wednesday.
"We have had an agreement on economic terms with Argentina since Thursday," Matthew McGill, a lawyer representing lead holdout creditors Elliott Management and Aurelius Capital Management said in a hearing before a U.S. Federal Appeals court in Manhattan.
McGill called it a "$5 billion transaction" but then added the parties needed more time to finish the deal. (Reporting By Nate Raymond and Jonathan Stempel; Writing by Daniel Bases; Editing by Chizu Nomiyama)
© Thomson Reuters 2017 All rights reserved.