All articles tagged with #ypf
A U.S. appeals court overturned a $16 billion judgment against Argentina over the 2012 nationalization of state-controlled energy company YPF, a ruling celebrated by President Javier Milei.
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.
Argentina was ordered by a US court to relinquish control of its majority stake in YPF within two weeks to satisfy a $16 billion judgment, a move that challenges President Milei's government and impacts the country's economy and bond prices. The ruling stems from a long-standing dispute over the 2012 nationalization of YPF, with Argentina planning to appeal. The case highlights ongoing legal and economic tensions involving Argentina's sovereignty and foreign investment.
A US judge has ordered Argentina to relinquish its 51% stake in YPF within two weeks following a $16 billion judgment against the country for the 2012 nationalization of the energy company, marking a significant legal and economic setback for President Javier Milei's government as it faces potential delays in oil and gas projects and ongoing financial negotiations.
A U.S. judge has ruled that Argentina must pay approximately $16 billion to minority shareholders of YPF, the country's state energy company, as a result of the government's seizure of a majority stake in 2012. The ruling came in favor of Burford Capital, which funded the litigation brought by shareholders Petersen Energia Inversora and Eton Park Capital Management. The payout includes damages sought by Burford plus prejudgment interest. Argentina, facing financial difficulties, plans to appeal the decision.