- Associated Press - Tuesday, February 16, 2016

NEW YORK (AP) - A court-appointed mediator in New York says Argentina has reached a settlement with bondholders seeking about 1 percent of the $10 billion being pursued by investors.

Mediator Daniel Pollack announced the deal Tuesday in the class action case. The deal came nearly two weeks after he announced two of six leading bondholders settled claims for more than $1 billion.

The announcement comes as Argentina continues negotiating with multiple groups of bondholders who had refused years ago to trade bonds at a discount, going to court instead. Argentina had created the swaps after it defaulted in 2001 on $100 billion of debt.

Attorney Jason Zweig represents the latest settling bondholders. He says class bondholders had wanted about $28 million in unpaid principal plus interest. Individual bondholders must prove they continuously held their bonds.

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