Sunday , April 18 2021

The court in New York rejected the appeal of Argentina in the PFP trial

Court of Appeal on New York's second round today dismissed the appeal of Argentina and YPF to reconsider his verdict last week, he left the firm first instance verdict in the case initiated by Capital Burke after the acquisition of the Petersen group, which is an oil company.

Thus, the court upheld its decision of 19 April confirming the first-instance provisions by the Southern District Court in New York under Loreta Presca, which considered Argentina to have violated the expropriation conditions of the company.

Official sources explained that this measure is not the end of the case, but that Argentina has recourse to Presque, the House and the US Supreme Court.

Sources explained that last week the country's Treasury Department prosecutor filed an urgent appeal with an appeal on the validity of the "stay" in the hands of the US Supreme Court, which Court of Appeals He responded by rejecting the request today and allowing Judge Presska to continue his proceedings.

The reason – which can think about a demand of about $ 3,000m – was initiated by the Burford Fund after buying Spanish property rights for a lawsuit filed, in the context of the company's bankruptcy process Petersen Energy and Petersen Inversor.

The decision of the US Court of Appeal was made in the framework of a decision still pending by the Supreme Court of that country on the jurisdiction in which the process is to be carried out, an issue sought by Argentina.

In January, the highest court in the United States sought an opinion from President Donald Trump's government.

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