Trial by YPF: latest direction to get Trump support

Argentine delegation met with US officials

WASHINGTON.- Casa Rosada began to

Washington

the last round of negotiations looking for government support from

Donald Trump

at the request of Argentina for the nationalization of the oil company

YPF

, which is a crucial stop for the future of litigation in the country's Supreme Court.

The Argentine delegation led by the Treasury's lawyer, Bernardo Saravia Frias, met yesterday with officials from the State Department and the Ministry of Justice, who outlined the legal strategy adopted by the government of Mauricio Macri for respond to the request of the Burford Fund. Capital for the expropriation of YPF during the management of Cristina Kirchner.

Saravia Frias, who accompanied Fabian "Pepín" Rodríguez Simón, senior lawyer and director of the YPF, will attend today a meeting with the US Attorney General, Noel Francisco.

The meeting yesterday at the State Department was technical, according to official sources. Saravia made a presentation with Maura Barry Grinalds, a member of the Skadden cabinet, which represents Argentina. The representatives of the United States then asked a series of questions. They had to evaluate the merits of the Argentine case and give their opinion to Francisco for a presentation before the highest court in the country.

Argentina is facing a multi-million dollar request from Burford Capital, which bought out the bankruptcy of two Spanish companies of the Eskenazi family and thus obtained the right to plead for the nationalization of the oil company. The Eskenazi, owners of the Petersen group, managed to control 25% of YPF during Kirchnerism. The two Spanish subsidiaries were created to enter the oil company.

The Court must decide whether or not to accept an application by Casa Rosada to move the complaint to Argentina or to allow the prosecution to proceed in US courts, as Burford Capital wishes. Argentina argues that expropriation was a sovereign act and that it is therefore protected by North American law – the Sovereign Foreign Immunity Act (FSIA) – which recognizes the Immunity of foreign states. Burford alleges that the dispute is contractual and should proceed in the United States.

One of the issues raised at the meeting was whether complainants would have remedies in Argentina, according to official sources.

Saravia Frías arrived at the State Department along with Argentine Ambbadador Fernando Oris de Roa; the ambbadador of Mexico, Martha Bárcena Coqui, and the ambbadador of Chile, Alfonso Silva Navarro. Mexico and Chile submitted briefs supporting the case of Argentina.

The Treasury's attorney had already visited Washington earlier this year to reap more donors for the Argentine proposal. The government seeks to bring a broad front to the United States' highest court
amicus curiae to strengthen the proposal.

During this last trip, Saravia Frías met with IMF officials so that the organization could express its support. There are also negotiations with Brazil and Colombia.