Judge Loretta Presska, from the second New York district, ordered the Argentine State to It emerges in two weeks of 51% of the actions it has in the oil company YPF. The company had been privatized in the mid -1990s and partially nationalized during the second government of Cristina Fernández Kirchner in 2012. At that time, he was under the control of the Spanish Repsol. Argentina must give those actions to the so -called “Vulture funds” as part of payment to the beneficiaries of the trial for the expropriation carried out 13 years ago. If the opinion is completed, the management of the country’s main energy company will go to Burford and Eton Capital, two firms that take advantage of opportunities to acquire demands with high economic potential.
The ruling responds to a judicial presentation made by the plaintiffs to obtain the amount established in the conviction, of 16,000 million dollars. Presska said that “sentences are executable against any property that may be assigned or transferred” and, therefore, “freely transferable and assignable according to the New York Law.”
The oil companies collapsed on Wall Street and the Buenos Aires Stock Exchange. While this country can appeal the opinion, and the process can extend 18 months, Presska had rejected in March the request to investigate what were the terms in which YPF was nationalized. “We had just learned that Judge Preska failed against the Argentine State in the case of the expropriation of YPF,” President Javier Milei said through X and let Argentina know the path of the appeal “in all instances that corresponds to defend national interests.” But above all, the capitalist Anarco dedicated himself to whipping the current Buenos Aires governor, Axel Kicillof, who in 2012 served as an economic strategist of Fernández de Kirchner. “This situation is direct responsibility for the useless Soviet “. The YPF case has allowed him to intensify the attacks against Kicillof, who is one of the main opposition referents. “Unfortunately, he did not reach him to ruin the Argentine economy, so now he is taking care of destroying the province of Buenos Aires.”
Thirteen years of disputes
According to the newspaper ´La ‘, a court of Manhattan “has just advised Argentina one of the toughest judicial blows in its recent history.” The adverse failure, he remembers, is “the last chapter of One of the most sensitive judicial novels in recent history “ and began on April 9, 2015. “Three years after nationalization, the opportunism of a study of lawyers and the desprolijities of the Axel Kicillof team when they advanced on the oil company opened the door to Burford Capital Limited.” This buffet “filed a lawsuit in the Court of the Southern District of New York against YPF and the Argentine State, for the alleged breach of commitments assumed with private holders of shares.” According to ´La ‘, Burford “took advantage of a strategic error of Kirchnerism.” The Eskenazi family, a small national emporium related to Nestor Kirchner, had entered YPF in 2008. Seven years later, Burford entered in Spain – then demand to Argentina – the bankruptcies of Petersen investment energy and Petersen Energía, the two companies used by the Eskenazi to participate in the oil company. “The nationalization of YPF was the result of an acceleration whose consequences are in sight “, holds the publication.
Sebastián Maril, CEO of Latin Advisors, told the portal ´infobae` that “it is impossible that without Congress approval the actions are delivered.” If Milei would like to do it, “it would be a problem for Burford because I should make a public offer, something that you don’t even want to do. They want to negotiate.” As of this Monday, “ YPF has to live with the ghost that one day of these a court tells him that its owner is not the governmentbut a vulture background that bought the actions to Burford, and ready. ”
