Brazil Backs Argentina in Fight Over $16 Billion US Judgment

Argentina’s appeal of a $16.1 billion US court judgment over its 2012 nationalization of oil company YPF SA won the support of four neighboring South American countries, including regional giant Brazil, who say the “deeply flawed” ruling threatens them all.

Brazil and Uruguay filed a so-called “friend of the court” brief Friday in the federal appeals court in New York where Argentina is challenging the September judgment by US District Judge Loretta Preska. Chile and Ecuador filed a separate brief in the case.

According to Argentina, the suit brought on behalf of YPF shareholders shouldn’t have been decided ...