An American court cancels $16 billion in damages against Argentina
An appeals court overturned the
On September 8, 2023, Judge Loretta Presca, from the Federal Court in Lower Manhattan, had ruled that Argentina must pay compensation to two private companies that were harmed by the nationalization decision.
Oil companies in Argentina
They are considered "YPF" It is one of the oldest oil companies in Argentina, employing more than 22 thousand people.
It was privatized in the 1990s, before gradually transferring to the management of the Spanish company Repsol, and then it was re-nationalized in 2012.
In 2015, Petersen Energia and Eaton Park Capital, which together owned 25.4% of the shares, raised "YPF"a lawsuit claiming that the Argentine government had not launched a public takeover offer as required by law.
Praise from the President of Argentina
On June 30, 2025, Judge Prisca ordered Argentina to give up 51% of the company’s shares as compensation. "partial" For damages exceeding $16 billion, according to the 2023 ruling.
Argentine President Javier Melay has appealed the ruling, praising the decision to overturn it, describing it in a speech in Buenos Aires as "historic" and"The largest judicial success in the country’s history".
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