US Edition
Argentina Temporarily Halts YPF Stake Transfer Amid $16.1 Billion Judgment
33 Articles
33 Articles
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 …
Argentina Temporarily Halts YPF Stake Transfer Amid $16.1 Billion Judgment
Argentina Temporarily Halts YPF Stake Transfer Amid $16.1 Billion Judgment In a significant legal development, the 2nd U.S. Circuit Court of Appeals in Manhattan has granted Argentina's request to temporarily halt a court order demanding the transfer of its 51% stake in oil and gas giant YPF.This comes in response to a $16.1 billion judgment secured by two investors against Argentina. The initial decision, made by U.S. District Judge Loretta Pre…
Clarin
fm899.com.arThe New York Court of Appeal backed the government's request and held Preska's order in abeyance, pending next October's resolution.The conviction is for $16.1 billion and has a daily interest greater than $2 million.
Argentina Wins Reprieve in US Court Fight Over YPF Shares
An appeals court ruled that Argentina doesn’t need to turn over its controlling stake in YPF SA to holders of a $16 billion judgment while the South American nation tries to overturn a US judge’s order requiring it to do so.
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