Government points to Petersen Group | At the trial …

The government pointed to the repurchase of YPF shares by the Petersen group at Repsol in 2008 and 2011, calling it "fraudulent". This is one of the arguments presented by the national state to the American justice to declare this operation null and void and, with it, the lawsuit against the country. That's in the letter that lawyers raised on Monday in the South Yok South Circuit judge's court, Loretta Preska, where the vulture fund Burdford opened the lawsuit against Argentina. This fund has acquired the litigation rights of Petersen Energía and Inversora. The lawyers representing Argentina described the agreement between Repsol and the Petersen Group as "improper" and anticipated that it was sought to show that "Petersen España, a fictional company incorporated and controlled by Argentine citizens, had obviously concluded wrong to acquire their YPF shares ". The Petersen Group apologized in stating that it had nothing to do with the New York lawsuit and pointed out that the right of pursuit "was sold by a Spanish trustee in Burford".

The legal representatives of Argentina and the company YPF will be presented this Thursday before the court of Preska to defend the file presented Monday. Burford will insist, as he also anticipated in writing last week, on the holding of a summary trial, considering it to be res judicata, and will go directly to the quantification of damages. interests and amounts that the reserve frees. pay Argentina.

The US Supreme Court dismissed at the end of June Argentina's request to change jurisdiction for the trial to continue in Argentine courts. The official defense will now plead against the operations prior to the nationalization of the oil company YPF. The Petersen Group, owned by the Eskenazi family, acquired 15% of YPF shares in 2008 from Repsol holding company and in 2011 bought an additional 10%. The transaction has a financial value of $ 3,500 million, which the Petersen Group agrees to pay with future dividends from YPF to buy its own shares.

The Burford Fund has acquired the litigation rights of the Eskenazi Group in $ 15 million and, since 2015, has taken legal action against the Argentine State for non-compliance with the YPF due to the expropriation of 51 % actions. The law firm will insist Thursday also on the impossibility for Petersen to start the trial, given that at the time of the nationalization of control of YPF, in 2012, he was no longer shareholder of the oil company. "The purchase has been approved by the Spanish Stock Exchange and by several international organizations," said Petersen's spokesman said in an average Buenos Aires.