The case dates back to the expropriation of YPF in 2012, when the Argentine government nationalized the state oil company. The Burford Capital fund seeks to collect compensation of US$16.1 billion.
Argentina will provide detailed information on the location of the Central Bank’s gold reserves, as well as other strategic assetsto the judge of the Southern District Court of New York, Loretta Preska, within the framework of the jtrial for the expropriation of YPFwhere the background Burford Capital seeks to collect compensation of US$16.1 billion.
The case dates back to the expropriation of YPF in 2012, when the Argentine government nationalized the state oil company. Burford Capital has since been litigating against Argentina, arguing that the expropriation was illegal and that they should be compensated for their losses. Judge Preska has criticized the Argentine government on several occasions for its resistance to providing the requested documentation, pointing out that “more time and money has been invested in defending the delivery of these documents than in making said delivery.”
Trial for the expropriation of YPF: What information does the judge ask for Loretta Preska?
Among the data that Argentina must provide are:
- Gold Location: Details on where the Central Bank’s gold reserves are located.
- Sovereign accounts: Information about bank accounts in both Argentina and the United States, including those belonging to diplomats and embassies.
- Potentially seizable assets: Data on other assets that could be subject to seizure within the framework of the trial.
The judge has also declared that the country is obliged to deliver any documentation related to these assets, regardless of their custody.
The delivery of this information is scheduled for February 28. Meanwhile, negotiations between Argentina and the plaintiffs continue, in hopes of reaching an agreement that avoids further financial repercussions for the country.
Source: Ambito
