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Argentina YPF expropriation legal disputes
Overview
The legal dispute regarding the 2012 expropriation of YPF has expanded into multiple international and domestic legal fronts. Following a ruling by the U.S. Second Circuit Court of Appeals that vacated a previous $16.1 billion judgment against Argentina, Burford Capital has initiated new legal actions.
In the United States, Burford Capital filed a petition with the Supreme Court to overturn the appellate decision, which they described as “gravely erroneous, totally unprecedented and of extremely relevant consequences.” The plaintiffs contend that the appellate court improperly prioritized Argentine law over established precedents.
Simultaneously, Burford Capital has launched an international arbitration claim against Argentina through the International Centre for Settlement of Investment Disputes (ICSID). This new proceeding, filed on behalf of Grupo Petersen to represent Spanish minority shareholders, operates under confidentiality rules. Argentina’s Treasury Department has confirmed it is organizing a legal defense for this arbitration.
Entities
Burford Capital · YPF · Loretta Preska · Argentina · ICSID
Timeline
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[BUSINESS] 3 sourcesBurford Capital appeals to U.S. Supreme Court over YPF expropriation case
Burford Capital has appealed to the U.S. Supreme Court to reverse a ruling that cleared Argentina of a $16.1 billion liability related to the expropriation of YPF.
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[BUSINESS] 3 sourcesBurford Capital files ICSID arbitration claim against Argentina over YPF
Burford Capital has filed a new arbitration claim against Argentina at the World Bank's ICSID following a New York court ruling that overturned a $16 billion judgment related to the YPF expropriation.
Sources
ciudadano.news · economis.com.ar · hoydia.com.ar · lapostacomodorense.com.ar · losprimeros.tv · prensa-latina.cu