Federal judge in New York, Loretta Preska, rejected a submission made by an NGO to invalidate the payment that obligates the country to pay US$ 16 billion for the expropriation of the oil company YPF carried out by Cristina Kirchner. She stated that the one-year deadline to do so was not respected.
The foundation Republican Action for Argentina had requested the U.S. judge to annul the ruling that condemned the Argentine State to pay 16.1 billion dollars to companies Burford and Eton Park and to investigate those involved in the nationalization of the Argentine oil company YPF. The submission was made on February 17, and the judge of the Southern District Court of New York issued an order for the parties involved in the trial to be heard.
In 2023, Preska condemned the Argentine State for the 2012 decision to expropriate the Spanish Repsol's 51% stake in YPF without making a public offer to acquire shares from other minority shareholders of Argentina's largest oil company. The case began in 2015 when the English firm Burford Capital and the U.S. firm Eton Park pursued the lawsuit after acquiring the litigation rights of two companies established in Spain that went bankrupt: Petersen Energía Inversora and Petersen Energía.
The director of Research for Traders, Daríos Epstein, commented on those involved in the case: 'Those who sold rotten fish and muddied the waters saying they would save US$ 16 billion, have a little humility and call themselves to silence.' 'The issue is serious. It's not right to use it for political maneuvering,' he pointed out.
The magistrate rejected the submission because it was filed late, citing legal precedents that establish the importance of adhering to procedural deadlines to ensure the validity of interventions in a judicial case.
