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YPF Investors Ask U.S. Supreme Court to Revive $16.1 Bln Judgment Against Argentina
The investors say the ruling undermines foreign investment and conflicts with Supreme Court precedent.
- On Wednesday, investment firms Petersen Energia and Eton Park petitioned the United States Supreme Court to reinstate a $16.1 billion judgment against Argentina in the long-running YPF litigation.
- The dispute centers on Argentina's 2012 nationalization of YPF, where the country allegedly violated bylaws by failing to launch a mandatory tender offer after seizing a 51% stake from Repsol.
- Seeking to overturn a March decision by the 2nd Circuit Court of Appeals, investors argued the ruling was "egregiously wrong, wholly unprecedented, and extremely consequential."
- President Javier Milei hailed the March ruling as a victory, while the Republic continues to defend its position against litigation funder Burford Capital.
- According to the petition, allowing Argentina to repudiate promises made to raise capital in United States markets will have "severe ramifications for foreign investment.
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YPF investors ask U.S. Supreme Court to revive $16.1 billion judgment against Argentina
By Natalia Siniawski and Leila Miller Oct 1 (Reuters) - Investment firms Petersen Energia and Eton Park petitioned the U.S. Supreme Court on Wednesday to reinstate a $16.1 billion judgment against Argentina in the long-running YPF litigation. The pet...
The investment fund, which finances the companies Petersen and Eton Park, goes through the last judicial channel in the United States.This month it had already presented itself to the ICSID of the World Bank for the expropriation of the oil company.
·Buenos Aires, Argentina
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Following Argentina’s favorable ruling, plaintiffs Petersen and Eton Park have until today to file their appeal, while maintaining an assault on the World Bank court
·Vicente López, Argentina
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Leaning Left0Leaning Right3Center3Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
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