A Yankee judge ruled in favor of Argentina's claim at the YPF trial | Chronic

The trial judge of the Southern District of New York, Loretta Preska, ruled Wednesday in favor of the Argentine Republic's request to suspend the Petersen and Eaton Park Capital cases, with a view to the nationalization of YPF, until the US Supreme Court of Justice pronounces on the settle the claim, informed official sources.

On Monday, the Argentine Republic and the company YPF asked the judge of first instance to suspend the start of the trial for the nationalization of the oil company that had motivated the application of the investment fund Burford, held by the litigation rights of the two companies, former shareholders of YPF.

The Preska resolution adopted that day reinforced Argentina's position despite the fact that the Court of Appeals of the Second Circuit in New York has, for the second time, given the judge the freedom to start the trial.

In their presentation, the Argentine lawyers asked the judge that, beyond the refusal of the Court of Appeal to suspend the case, the complainant wanted it to be stayed in the Preska court until the Supreme Court be returned. on the competence of the case.

It's a resource of "Certiorari" (direct communication) pending before the Supreme Court, in which Argentina has raised the incompetence of US courts, with the support of Mexico, Chile, Brazil and Colombia.

"A few days ago, surprisingly, the New York Court of Appeal confirmed its order to open the trial in the first instance, said today Judge Loretta Preska in favor of the Republic. Argentina", explained one of the sources consulted.

In this way, the lawsuit is now "Suspended until the United States Supreme Court is issued to determine whether or not Petersen's claim is settled in this country", he added.

Government sources related to the energy sector considered that "This is not a new minor" what happened today, since "If Argentina had not succeeded, the lawsuit would have begun pending the decision of the US Supreme Court, which, if decided in favor of the country, would end to the dispute without the need to move the process forward ".

"Argentina's argumentative effort – explained to close friends of the cause also consulted by the agency – was centered on the procedural economy and the possibility of conflicting proceedings, s & # 39; 39, adding to the lack of foundation of the camera and the fact that the defendant is a sovereign state ".

Now the US Supreme Court must decide whether or not to accept Argentina's request for jurisdiction. "The Trump government is preparing its opinion and should submit a non-binding document by September", indicated on his Twitter account, Sebastián Maril, an badyst specializing in Argentine debt issues.

"This is very good news for Argentina seeking to seize justice by expropriation in a court outside the United States.", he added.

Arguments in favor of the nationalization of YPF are not the only judgment that the Argentine State has made with Judge Preska, among others, those of the default of 2002 stand out and a complaint related to performance bonds related to the Argentine GDP . published in 2005 under the direction of the Minister of the time Lavagna.