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Stock impact report

Argentina seeks to halt $16bn YPF judgement enforcement in UK court [Yahoo! Finance]

Burford Capital Limited Ordinary Shares (BUR) 
US:NASDAQ Investor Relations: burcon.ca/investors/corporate_factsheet.php
Company Research Source: Yahoo! Finance
According to a report in Reuters , the legal move is part of Argentina's broader strategy to appeal the decision in the US, where a New York court in 2023 had ruled in favour of Petersen Energia Inversora and Eton Park Capital Management. Supported by litigation funder Burford Capital, these entities have claimed they are owed an amount exceeding $17bn, including interest accruing at an estimated rate of $2.5m per day. The origins of this legal dispute trace back to 2012 when Argentina took control of a 51% stake in YPF from Spanish company Repsol. This action was undertaken without extending an offer to purchase shares held by minority investors, prompting the current legal claims. Argentina has contested the ruling from the US court and is also challenging its enforcement in the UK. During proceedings at London's High Court, Argentina's legal representative David Railton advocated for pausing the case until the appeal process concludes in the US. He argued that investors wo Show less Read more
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