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Stock impact report

Burford Seeks Argentina's YPF Stake to Pay $16 Billion Award [BNN Bloomberg (Canada)]

The Bank of New York Mellon Corporation (BK) 
Last the bank of new york mellon corporation earnings: 4/16 06:30 am Check Earnings Report
Company Research Source: BNN Bloomberg
In a motion filed Monday in New York, Burford asked US District Judge Loretta Preska to grant it the 51% stake in YPF currently held by Argentina's federal and provincial governments. Preska is also the judge who in September issued the judgment that Burford is now trying to collect. Burford had sought to keep its filings secret, saying that news of its collection effort could impede efforts to resolve the issue. It would also attract attention in Argentina “because the motion calls into question the republic's continued majority ownership and control over YPF,” Burford said in a court filing. Argentina opposed. Preska declined to seal the filings. Neither Burford nor the Argentine government responded to emails seeking comment. ‘Long Road Ahead' Even if Preska orders that Argentina's YPF shares be handed to Burford, it's unclear how the litigation funding firm would enforce that decision. Argentina has in the past fought foreign judgments, but those disputes have also harmed Show less Read more
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