Expropriation of YPF: the paths that open after the harsh setback to Argentina by YPF

New York District Judge Loretta Preska ruled this Friday against Argentina in the case for the nationalization of YPF, carried out in 2012 during the government of Cristina Kirchner, and took everyone by surprise and directly hit the electoral campaign. Not only because of the unprecedented million-dollar figure against a sovereign State, but also because of the harsh criticism that she made in the letter against Axel Kicillof, then Argentine vice-minister of Economy.

The judge ruled in favor of the plaintiff fund, Burford, and set the financial compensation to those investors at US$16 billion.

Read also: Trial for the expropriation of YPF: a ruling in New York orders Argentina to pay US$16 billion

After eight years of litigation and after the trial was held for 3 days in July, the new adverse ruling was announced. Argentina will appeal through the Treasury Attorney General’s Office, headed by Carlos Zanini, announced the presidential spokesperson, Gabriela Cerruti.

The sentence will surely be final before the elections on October 22, so the appeal may arrive before the end of that month. “It will be the next government that must define whether it negotiates with the plaintiff fund or takes the case before the US Supreme Court of Justice, explained specialist Sebastián Maril, from Latam Advisors, to TN.

News that is being updated.-