YPF Oil Group Case Closed, US$16.1B Voided
33 Articles
33 Articles
Argentina awaits the Supreme Court after the YPF case is closed at first instance
New York federal judge Loretta Preska has vacated her 2023 judgment ordering Argentina to pay more than US$16 billion over the expropriation of oil company YPF and formally closed the case at first instance. Its future now depends on whether the US Supreme Court agrees to review it, as litigation funder Burford Capital requested in early October.
Through a new administrative procedure, the file in first instance in New York would be formally closed in favor of the Argentine State, in the case of the expropriation of the oil company
YPF Trial: Judge Preska Formally Closed the Case and the Supreme Court Must Define Burford's Request
This is a necessary administrative procedure following the decision taken by the Appeals Chamber in March, when it reversed the ruling that forced Argentina to pay USD 16 billion to the funds that demanded the State for the expropriation of the oil company in 2012
He formalized in the file of first instance that he had opened for decades, the ruling favorable to the State that overturned the conviction against Argentina in March in the largest lawsuit against the country for the stateization of the oil company in 2012.
Canal C Preska overturned the conviction of USD 16.1 billion against Argentina in the YPF case The federal judge formalized the closure of the YPF case after a ruling in favour of the Argentine State.The publication Preska overturned the conviction of USD 16.1 billion against Argentina in the YPF case appeared for the first time in Canal C
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