Good news in the trial for YPF: at the request of Argentina, the US Supreme Court will decide

The judge Loretta Preska, of the Southern District Court of New York, decided to accept the stay who asked the Argentine State and YPF and will await the opinion of the Supreme Court of this country before advancing in the cases of expropriation of the public oil company during the kircherismo. If the country loses, claims should pay about 3,000 million USD.

The Supreme Court badyzes a resource – or certiorati– the country asked what was the competence of the case and consulted its opinion with the Government of Canada during this process Donald Trump, through your General Counsel (or lawyer). You will decide if you take the case or not in the middle of the year, before the break. If this happens, you will study it for about a year. Otherwise, Preska could initiate the trial proceedings.

"This is very good news for Argentina and YPF, and now the definition is postponed for several months, at least until September," he said. Infobae l & # 39; badyst Sebastián Maril, from Fingurú.

After some back and forth on the record in recent days, the judge who replaced Thomas Griesa has decided not to start the lawsuit against Argentina – which gives power to Burford Capital on behalf of two minority oil shareholders – and will wait for the court to decide whether or not to adjudicate the issue in the United States. However, the trial has had two negative judgments for the country, both at trial and before the Court of Appeals.

"It's very good news, that's what we wanted, what we expected, I do not know if it's a relief, but it was not logical to continue when we were asked about the competence of the case. If the Court allows the appeal, after notice of Jural advisorwe will give the arguments and wait for the final judgment. If you do not grant it, the tests will continue there"detailed sources close to the cause.

"It has already happened: the government of this country has given reason to Argentina, but the same court has always failed," Maril adds.

The argument of local lawyers – a team who runs the treasure lawyer Bernardo Saravia Frías and Fabián "Pepín" Rodríguez Simón, director of YPF, as well as major studios in Argentina, the United States and Spain – is that the expropriation was carried out by a sovereign country and was approved by Congress. In the United States, meanwhile, they claim that the damage would be caused to the investors of a company listed on Wall Street, which is why the problem must be solved there.

Burford, International Litigation Specialist, It argues that after the purchase by Argentina of Repsol (Spain) of 51% of the company, for an amount of USD 5,000 million, in 2012, it would have been necessary takeover bid and equalize the bid on the other shareholders. This was not the case and Burford now represents two of these minority shareholders: Petersen Energía and Petersen Energía Inversores (who at the time of the trial were no longer part of the local Petersen group) and Eton Park Capital.

In parallel, and as detailed Infobae Only last week, state and company officials filed suit in Spain in February. They want the justice of this country to investigate whether Burford is only an investor of the Petersen companies, which went bankrupt after renationalization, or where he directly bought the rights to plead the system of Spanish justice. If they acquire them, they argue, it should be they who direct the claims in the United States and not the companies.

If they prove that this is the case, it would be another argument to make sure that the cases come under the courts of Preska.

Overall, now that the stay has been approved will have to wait for the decision of the US Supreme Court. There is nothing badured, but it is the scenario that local lawyers were waiting for a trial that they themselves define as "very complicated".