The United States has suspended all lawsuits related to the YPF expropriation case, which for now favors Argentina's position. However, the claimants stated that this decision does not harm their case when the core issue is decided. Armando Betancor, representative of the claimants (Petersen and Eton Park, funded by Burford), assured that “the decision by the Second Circuit to suspend the procedures for presenting evidence does not affect” the search for “restitution for YPF investors or the efforts to collect the $16 billion sentence that the District Court granted us.” Additionally, Betancor considered that “the suspension has nothing to do with the merits of our case against Argentina or the outcome of the appeal; it only refers to the presentation of evidence after the judgment.” Betancor also stated that “Argentina's non-compliance with YPF's statutes was a disastrous and highly significant decision that led to the bankruptcy of investors on the New York Stock Exchange.” “At all levels, US courts have acted by recognizing this fundamental fact, and we believe this will continue,” added the representative. What did the US Justice say? The New York Court of Appeals ordered that no court advance with measures related to the case until the core issue is determined in the appeal process promoted by the national state. The Argentinean motion had been presented by Sebastián Amerio in his first hours at the head of the Prosecutor's Office, requesting to halt the progress of investigations and procedures regarding the execution of the sentence against Argentina in 2023. The New York Second Circuit Court of Appeals, which is analyzing the appeal filed by Argentina, accepted the motion and ordered to halt any procedural progress until it rules on the merits of the litigation. This court is key in the case, as it has the power to confirm, modify, or reverse the sentence that condemned Argentina to pay a huge sum for the expropriation of YPF. Its decision to grant the suspension implies that, for the moment, claims cannot be enforced nor can additional investigations be advanced.
