Daniel Pollack, the special master presiding over settlementnegotiations between Argentina and its bondholders, said April 6 that the countrysigned agreements in principle with Red Pines and Spinnaker, funds managed by VardePartners and Spinnaker Capital Ltd., for an aggregate of just under $250 million.
The settlements fall within the terms of an earlier from Argentina, meaningthat the funds will be paid 150% of the principal on their bonds.
A court order issued in March calls for injunctions against Argentinato be lifted if certain other conditions are met with respect to the country's debtpayments. That order is now before an appeals court, which will hear the case onApril 13. If the order is affirmed, the settlements will become final and binding,Pollack said.
In March, Argentina reached agreements in principle with various other holdout .