US Edition
Argentina Temporarily Halts YPF Stake Transfer Amid $16.1 Billion Judgment
40 Articles
40 Articles
YPF case: NY Court of Appeals rules in favor of Argentina
The Second Circuit Court of Appeals in New York has suspended a lower court's order that required Argentina to transfer 51% of its shares of the state oil company YPF to a New York bank. This overruling of Judge Loretta Preska's Sept. 2023 order is a significant win for Buenos Aires, as it allows the South American country to appeal the $16 billion judgment without having to surrender a key state asset
Argentina's lawyers filed an appeal to interrupt the handing over of the actions while the appeals process is going on, a petition that has now been accepted.
The Appeals Chamber of the Second Circuit of New York suspended the ruling handed down on June 30 by an American judge who forced the Argentine State to cede 51% of the state oil company YPF to the Burford and Eton Capital funds. “This decision guarantees that the Argentine Republic retains the majority share of the National State in the company as the appeal progresses, constituting a decisive step in the defense of a strategic asset and the in…
The Argentine State can retain its majority stake in the oil company YPF while resolving its appeal in the case that confronts the company’s shareholders. The New York Second Circuit Appeals Chamber decided this Friday to suspend the order of First District Judge Loretta Preska, who forced him to hand over 51% of the titles he holds in YPF to the plaintiffs who obtained a favourable ruling for having been discriminated against in the process of …
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- 36% of the sources lean Left, 36% of the sources lean Right
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