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Stock impact report

US sides with Argentina in dispute over $16 billion YPF judgment [Yahoo! Finance]

Burford Capital Limited Ordinary Shares (BUR) 
US:NASDAQ Investor Relations: burcon.ca/investors/corporate_factsheet.php
Company Research Source: Yahoo! Finance
country to give up its 51% stake in oil and gas company YPF to partially satisfy a $16.1 billion court judgment. In a Wednesday night letter to U.S. District Judge Loretta Preska in Manhattan, the Department of Justice said it has long argued that U.S. courts cannot order the seizure of foreign sovereign property located outside the United States. It also said it would violate sovereign immunity to require Argentina to turn over the shares to two investors represented by litigation funder Burford Capital, and that allowing such a turnover could interfere with U.S. foreign policy. Argentina is appealing Preska's September 2023 decision to award the $16.1 billion to Petersen Energia Inversora and Eton Park Capital Management. Burford has said it expected to receive 35% and 73% of their respective damages. Lawyers for Burford did not immediately respond to requests for comment. Robert Giuffra, a lawyer for Argentina, declined to comment. Led by libertarian President Javier Mile Show less Read more
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