US judge orders Argentina to give up YPF stake to pay $16.1 billion judgment. President Milei plans to appeal.

From Yahoo Finance: 2025-06-30 13:08:00

A U.S. judge orders Argentina to give up its 51% stake in YPF to pay a $16.1 billion court judgment. President Milei vows to appeal. The case stems from Argentina’s 2012 seizure of YPF from Spain’s Repsol.

Burford Capital, representing the plaintiffs, expects to receive 35% and 73% of the damages awarded. Burford’s shares soar after the decision, while YPF shares fall. Argentina plans to appeal the ruling, citing interference with U.S. foreign policy.

The U.S. Department of Justice supported Argentina in opposing the YPF turnover. Argentina argues that the shares are immune under the Foreign Sovereign Immunities Act, but the judge rules otherwise. Preska insists on enforcing the judgment.

Preska’s decision is a blow to Argentina’s efforts to build foreign currency reserves amidst economic challenges. The country recently obtained a $20 billion loan program from the IMF. Argentina plans to request a hold on the decision during the appeal process.

Read more: US judge orders Argentina, facing $16.1 billion judgment, to give up YPF stake