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Argentina 'running out of time' in bond fight

Paul Singer, founder and president of Elliott Management Corp.
Jacob Kepler | Bloomberg | Getty Images

Hedge fund titan Paul Singer's efforts to resolve his dispute with Argentina over bond payments isn't over yet.

Less than 24 hours after a U.S. judge urged Argentina to pay a group of frustrated foreign bondholders, Singer's Elliott Management signaled it was prepared to accept a combination of cash and new debt as part of its expected $1.5 billion windfall from its Argentine sovereign debt holdings.

But Argentine officials appeared to waver from plans to negotiate with the hedge fund in person in the U.S., raising questions about whether and when the financial dispute would finally be resolved.

Elliott, the $24 billion New York hedge fund known for its scorched-earth negotiating tactics, is now willing not only to hold talks with Argentine officials, but also to accept newly issued Argentine debt alongside cash as part of the $1.5 billion in bond payments it is owed, said someone familiar with the matter.