Argentina Appeals US Court Ruling on YPF Stake
Argentina is appealing a U.S. court ruling demanding that the country surrender its 51% stake in state energy company YPF. This appeal challenges Judge Loretta Preska's decision in a case involving a $16.1 billion court judgment related to the 2012 nationalization of YPF.
Argentina has initiated an appeal against a U.S. court's decision that mandates the nation to relinquish its 51% ownership in state energy firm YPF. The appeal was lodged in the U.S. District Court in New York's southern district on Thursday.
This legal move contests a ruling by Judge Loretta Preska, which obligates Argentina to cede the shares as partial fulfillment of a $16.1 billion judgment. The legal battle stems from the 2012 nationalization of YPF, which has since been a contentious issue.
The appeal highlights Argentina's ongoing resistance to the judgment, which has significant implications for international business relations and state ownership of crucial energy resources.
(With inputs from agencies.)
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