US appeals court voids $16.1 billion judgment against Argentina over YPF seizure

Reuters

Fri, March 27, 2026 astatine 9:19 AM CDT 1 min read

NEW YORK, March 27 (Reuters) - A U.S. appeals tribunal connected Friday struck down ‌a $16.1 cardinal judgement against Argentina for ‌seizing power of state-owned lipid institution YPF successful 2012, ​a triumph for Argentine President Javier Milei arsenic helium tries to stabilize the country's long-strained economy.

The determination was issued by the ‌2nd U.S. Circuit ⁠Court of Appeals successful Manhattan.

Argentina had been seeking to overturn the $16.1 cardinal ⁠award successful September 2023 by a little tribunal justice to erstwhile YPF shareholders Petersen ​Energia Inversora ​and Eton Park ​Capital Management for ‌alleged losses tied to YPF's nationalization.

During oral arguments connected October 29, the three-judge appeals tribunal sheet had questioned wherefore the lawsuit was successful the United States, fixed that the ‌underlying enactment occurred successful ​Argentina and progressive alleged ​violations of Argentine ​law.

Burford Capital, a UK-based institution ‌that funds the litigation, ​would cod overmuch ​of immoderate grant that survives ineligible challenges. The grant had grown to $18 cardinal ​with involvement ‌when the entreaty was argued, a ​lawyer for Argentina said.

(Reporting by Jonathan ​Stempel successful New York)