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Stock impact report

Argentina files emergency appeal in US to put YPF stake turnover on hold [Yahoo! Finance]

Burford Capital Limited Ordinary Shares (BUR) 
US:NASDAQ Investor Relations: burcon.ca/investors/corporate_factsheet.php
Company Research Source: Yahoo! Finance
order that it turn over its 51% stake in oil and gas company YPF to partially satisfy a $16.1 billion court judgment. Saying "the stakes could not be higher," Argentina told the 2nd U.S. Circuit Court of Appeals in Manhattan that requiring a turnover by Monday would irreparably harm its sovereignty, destabilize its economy and cause the irrevocable loss of a controlling stake in the country's largest energy company. Argentine President Javier Milei has been seeking to bolster foreign currency reserves and rein in soaring inflation, while navigating a heavy debt burden. The country asked that the YPF turnover be put on hold while it appeals. The case centers on Argentina's 2012 seizure of the 51% YPF stake from Spain's Repsol without making a tender offer to minority shareholders Petersen Energia Inversora and Eton Park Capital Management. In September 2023, U.S. District Judge Loretta Preska in Manhattan ordered Argentina to pay $14.39 billion to Petersen and $1.71 billion t Show less Read more
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