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Stock impact report

US judge orders Argentina, facing $16.1 billion judgment, to give up YPF stake [Yahoo! Finance]

Burford Capital Limited Ordinary Shares (BUR) 
US:NASDAQ Investor Relations: burcon.ca/investors/corporate_factsheet.php
Company Research Source: Yahoo! Finance
partially satisfy a $16.1 billion court judgment, handing a defeat to the cash-strapped country. U.S. District Judge Loretta Preska in Manhattan said Argentina must transfer its YPF shares within 14 days to BNY Mellon, and instruct it to transfer the shares within one business day to the plaintiffs. On X, Argentina's President Javier Milei vowed to appeal to "defend national interests." The case arose from Argentina's 2012 seizure of the 51% YPF stake held by Spain's Repsol, without tendering for shares held by minority investors Petersen Energia Inversora and Eton Park Capital Management. Argentina has been appealing Preska's September 2023 decision to award $14.39 billion to Petersen and $1.71 billion to Eton Park. The plaintiffs are represented by litigation funder Burford Capital, which has said it expected to receive 35% and 73% of Petersen's and Eton Park's respective damages. Shares of Burford soared in New York after the decision, closing up 22%, while YPF shares c Show less Read more
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