Second Circuit voids $16bn YPF judgment, redrawing Argentina litigation risk
The US Court of Appeals for the Second Circuit overturned a $16bn ruling that Argentina must compensate YPF shareholders, ruling the claims aren’t cognisable under Argentine law; Burford Capital’s shares tumbled on the decision, while YPF stock rose and Argentina welcomed the ruling. The decision reduces the likelihood of payout in the US litigation but leaves room for further appeals.
