US Edition
US appeals court overturns $16 billion judgment over Argentina energy company nationalization
The US Second Circuit Court reversed a $16.1 billion award due to misinterpretation of Argentine law, blocking claims by former YPF shareholders over 2012 nationalization.
- A U.S. appeals court overturned a $16 billion judgment against Argentina over the nationalization of an energy company.
- The court ruled that breach of contract claims made by companies were not recognizable under Argentine law.
- The ruling was a victory for President Javier Milei as he tries to boost Argentina's troubled economy.
93 Articles
93 Articles
A New York Court of Appeal overturned Argentina's 2023 US judge's sentence to pay over $16 billion in compensation to minority shareholders for the nationalization of the oil company YPF.
The Legal and Technical Secretary and central figure in the Government's strategy detailed how a dispute that accumulated defeats in New York courts was reversed and explained the role of political, legal and diplomatic coordination in the outcome
The Legal and Technical Secretary highlighted the “political, diplomatic and legal” approach to the case; “From 2015 to 2023 the coming of the case was tragic,” she said; she ventured “low probability” that the U.S. Court would accede to a petition from the plaintiffs
This is a tremendous relief for the Argentine public accounts. On Friday, March 27, the US court overturned Argentina's conviction to pay $16.1 billion in compensation for the nationalization in 2012 of the oil company YPF. A decision called "the greatest legal success in national history" by Argentine President Javier Milei.
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