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US judge vacates $16 billion YPF judgment against Argentina
New York federal judge Loretta Preska vacated her 2023 judgment ordering Argentina to pay more than $16bn over the expropriation of oil company YPF and closed the case at first instance. Its future depends on whether the US Supreme Court agrees to review it, as litigation funder Burford Capital has requested.
Why it matters
Removing the judgment eases a major potential liability for Argentina's public finances.
Background
Argentina nationalized a majority stake in YPF from Spain's Repsol in 2012. Former minority shareholders, backed by Burford, sued in New York.
The story so far
- Venezuela's Maduro charged in US with ordering torture
- US judge vacates $16 billion YPF judgment against Argentina
- Judge rules firing of Maurene Comey unlawful
Sources
- MercoPress ↗Oct 20, 5:52 AM ET
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