Judge Loretta Presska ordered to transfer papers to the Bainbridge Fund as a partial payment of a separate sentence to that of the expropriation of the oil company. Earlier, he failed in favor of Burford.
The American judge Loretta Preska From the Southern District Court of New York, it was double news on Monday by ordering two adverse failures against Argentina that could directly affect the state -owned company YPF. Hours after sentence in favor of the Buitre Fund Burford, ordered the delivery of the actions held by the Petroleum In the vulture background Bainbridge It is for US $ 95 million plus interest in default debt.
Sebastián Maril, CEO of Latam Advisors, announced this afternoon that it is a second ruling against the Argentine State. As he explained, it is a “Partial payment” which refers to a separate sentence of the case YPF but related to sovereign debt in default
“In a second ruling issued the same day, the Federal District Judge Loretta Preska ordered the Argentine Republic to transfer their actions of YPF In the background Bainbridge as partial payment of a separate sentence related to sovereign debt in default. This marks the second adverse decision in a single day related to Argentina’s participation in the national oil company, ”said the specialist in his social networks.
Bainbridge, In addition, it is the fund that had requested information about gold in the reserves of the Central Bank (BCRA) that had been taken from the country. On the same day, the judge Presska ordered that Argentina deliver 51% of its shares of YPF to the Vulture funds. The order was issued in line with the high demand in early 2025 so that the Argentina provide information about assets, among which gold and Actions of other state companies.
Nationalization of YPF: US Justice ordered that Argentina transfer 51% of the actions to plaintiffs
It is the second failure issued this day against Argentina, after The magistrate ordered Argentina to deliver 51% of YPF actions to beneficiaries of the failure for the expropriation of the company, as part of payment of the sentence in which the country was already sentenced to pay US $ 16.1 billion.
Earlier, the judge Presska ordered the national state Transfer 51% of the Oil Class D shares YPF to the beneficiary vulture funds of the Failure against Argentina for the nationalization of the company In 2012. The first reaction was a YPF contributions collapse In Wall Street and the Buenos Aires Stock Exchange. And the second was A tweet from Javier Milei, who pointed against Axel Kicillof.
The judge’s decision is part of the cause promoted by the Burford capital fund, that bought the litigation rights of the Petersen Energy Group and IEASA (ex enarsa) and ETON PARK CAPITAL MANAGEMENT, to claim a millionaire compensation for alleged irregularities in the process of nationalization faced during the government of Cristina Fernández de Kirchner, while Kicillof was Minister of Economy.
However, that process had the endorsement of a Congress Law voted by a large majority in April 2012 and was not random: A year earlier, Vaca Muerta was rediscovered and all its oil and gas potential. This is the real booty looking for the litigating background and who are behind.
Source: Ambito
