Argentina Says It Won’t Negotiate With Burford Over YPF Shares
17 Articles
17 Articles
The government of Donald Trump backed Argentina this Friday in the dispute that the South American country maintains against a group of shareholders of the oil company YPF in U.S. courts. As I anticipated, the Department of Justice presented an amicus curiae to the Appeals Chamber in which it opposes the order issued by the judge of first instance Loretta Preska for the Argentine State to deliver 51% of the shares of YPF that it has in its posse…
The U.S. government called for the suspension of the ruling ordering Argentina to pay US$16 billion with YPF shares until the appeal is resolved. After filing as the country’s “amicus curiae,” the U.S. argued in a twelve-page brief that the injunction violates the principle of immunity ...
Although Judge Loretta Preska rejected the suspension of the sentence, the Argentine government received a key wink from Washington. The continuation of US support could have an impact on the final course of the litigation.
The beneficiaries of Preska's ruling informed the House that they do not plan to retain the shares because they do not want to administer an oil company. They asked that they be a "financial guarantee" while the appeal is being processed, which opens the possibility of executing the sentence and seeking Argentine assets abroad. Trump's government presented itself in support of the Argentine position.
As previously anticipated, the authorities of the United States Government formalized in New York Justice their support for the Argentine Republic in the case for the expropriation of the company Yacimiento Petrolíferos Fiscales (YPF), where Judge Loretta Preska had ordered the delivery of 51 per cent of the equity package to the speculative funds that filed a lawsuit 10 years ago and forced the national State to pay $16 billion. The United Stat…
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