Argentina Liable in Multibillion-Dollar Suit Over Oil Takeover

A US judge ruled against Argentina and in favor of entities funded by Burford Capital on claims the South American nation failed to pay fair value to shareholders when it nationalized the gas and oil company YPF SA in 2012.

US District Judge Loretta Preska Friday ruled in favor of the Spanish companies Petersen Energia Inversora S.A.U. and Petersen Energia S.A.U., which sued YPF and Argentina in 2015. While she granted a request by YPF to dismiss the claims, she determined that the Argentine government itself was liable, with damages to be resolved at trial.

The front entrance of the YPF SA headquarters in Buenos Aires, Argentina.

Source: NurPhoto

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