YPF: US judge ruled in favor of Argentina's claim at trial

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 supported Argentina's position despite the fact that the Court of Appeal of Second circuit of New YorkFor the second time, the magistrate was free to begin the trial.

In their presentation, the Argentine lawyers asked the magistrate that beyond the refusal of the Court of Appeal to suspend the case, the plaintiff wants it to remain outstanding in the Preska court, until the Supreme Court is rendered on the jurisdiction 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 felt that "this is not a new minor" of what happened today because "if Argentina had not been successful, the trial would have been opened pending the decision of the US Supreme Court, which would decide in favor of the country, that would end the controversy without it being necessary to move the process forward. "

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"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. "

From now on Supreme Court of the United States You must decide if you accept Argentina's request regarding 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 trying to take its case by expropriation to 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 Minister Lavagna of the time.