US considers role in YPF expropriation dispute - Buenos Aires Herald
The United States government has expressed interest in the YPF expropriation trial, asking presiding Judge Loretta Preska to postpone a ruling in the country’s ongoing lawsuit against financial firm Burford Capital.
The letter of intent, sent on Monday by the U.S. Department of Justice, outlined that the country is “actively considering” presenting a statement of interest and requested deferring a ruling on whether or not Argentina should hand over its majority stake in the state-owned oil and gas company until such a decision could be made.
In September 2023, Preska ruled that Argentina owed Burford Capital US$16.1 billion in a lawsuit over the country’s 2012 expropriation of most of YPF’s shares. The financial firm requested that Argentina transfer its stakes in YPF — the country currently owns 51% of the company’s shares — as partial payment of that sum.
The financial firm also demands that YPF, which is not part of the original lawsuit, be incorporated in the case. Last week, all parties presented their final written statements on the matter and Preska is now bound to rule on it, although she doesn’t have a legal deadline.
