US EditionU.S. Court Overturns Ruling Against Argentina over YPF Expropriation
The reversal halts a $16.1 billion payout to former YPF shareholders, with the court citing a misapplication of Argentine law in the 2023 ruling.
- On Friday, the Second Circuit Court overturned a $16.1 billion judgment against Argentina, reversing a 2023 ruling regarding the 2012 nationalization of the oil company YPF.
- District Judge Loretta Preska originally ordered the payment after finding the government violated by-laws by failing to make a tender offer to minority shareholders Petersen Energia Inversora and Eton Park Capital Management.
- The Circuit Court ruled that Preska misinterpreted Argentine law, finding breach of contract claims invalid; the decision dealt a significant blow to Britain-based Burford Capital, which financed the lawsuit for a share of the award.
- President Javier Milei celebrated the "best possible outcome" on social media, viewing the reversal as a major victory that could help clear the government's path to returning to international markets.
- Argentina had argued that paying the $18 billion settlement would severely harm its finances, though the plaintiffs could still appeal to the Supreme Court, potentially extending the legal saga for years.
97 Articles
97 Articles
New York court overturns $16 billion ruling against Argentina in YPF expropriation case
The U.S. Court of Appeals for the Second Circuit in New York overturned on Thursday the ruling that required Argentina to pay over $16 billion in compensation to minority shareholders of YPF for the 2012 expropriation of the oil company. The decision, issued with one dissenting vote, represents Argentina's largest judicial victory abroad in over a decade of litigation.
Charleston Gazette-Mail
Burford Capital Statement Re YPF Appeal Decision
NEW YORK, March 27, 2026 /PRNewswire/ -- Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, announces that the United States Court of Appeals for the Second Circuit (the "Second Circuit" or the "Court")…
Associated Press News
US appeals court overturns $16 billion judgment over Argentina energy company nationalization
A New York appeals court has overturned a ruling that had ordered Argentina to pay more than $16 billion to former shareholders of YPF, the country’s largest energy company that was nationalized in 2012.
The decision of the US court represents a significant victory for President Javier Milei and helps to derail the way of the government for any return to international markets
Milei Wins as Appeals Court Kills $16B YPF Award
Key Points — A US appeals court overturned the $16.1 billion judgment against Argentina over the 2012 nationalization of YPF, ruling 2-1 that the lower court misinterpreted Argentine law — Shares of litigation funder Burford Capital, which backed the plaintiffs and stood to collect most of the award, crashed 47% on the decision — President […] The post Milei Wins as Appeals Court Kills $16B YPF Award appeared first on The Rio Times.
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