Argentina Appeals $16 Billion Verdict in Litigation-Funded Case

Argentina appealed a $16 billion verdict in a lawsuit over its 2012 seizure of oil company YPF SA.

Argentina sought the reconsideration Tuesday in the US Court of Appeals for the Second Circuit. The appeal includes US District Judge Loretta Preska’s March order that granted summary judgment to investors who claimed the country didn’t offer a payout to shareholders as required when Argentina nationalized YPF in 2012.

Petersen Energia Inversora, S.A.U. and other investors filed suit in 2015. The drawn-out litigation included an unsuccessful appeal to the US Supreme Court by Argentina in 2019.

Preska ruled on the amount after ...