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US judge appoints lawyer to supervise Argentina debt talks

AFP
TV grab released by Noticias Argentinas showing Argentine President Cristina Fernandez de Kirchner addressing the nation, in Buenos Aires on June 16, 2014

A US federal judge on Monday appointed a Manhattan attorney to supervise talks between Argentina and hedge fund bondholders as Buenos Aires seeks to avoid default.

US District Court Judge Thomas Griesa named Daniel Pollack as "special master to conduct and preside over settlement negotiations" in the case, which pits Argentina against "holdout" hedge funds who refused to take part in the restructuring of debt on which Buenos Aires defaulted in 2001.