US Opposes Burford Bid for YPF Stake Over $16 Billion Debt

The US government urged a federal judge not to approve a bid by Burford Capital to gain control of Argentina’s state oil company YPF SA as part of efforts to collect on a $16 billion court judgment against the Latin American country.

In a letter sent Wednesday to US District Judge Loretta Preska in New York, the US Attorney’s office in Manhattan said it opposed Burford’s request to grant the firm the 51% stake in YPF currently held by Argentina.

Property owned by foreign nations outside the US isn’t subject to execution in US courts, a government lawyer said in ...