Brazil Backs Argentina in Fight Over $16 Billion US Judgment
- Award was in suit over Argentina’s 2012 nationalization of YPF
- South American countries say US ruling violated sovereignty
Brazil previously supported neighboring Argentina in a legal fight over its 2001 sovereign debt default.
Photographer: Arthur Menescal/BloombergThis article is for subscribers only.
Argentina’s appeal of a $16.1 billion US court judgment over its 2012 nationalization of oil company YPF SA won the support of four neighboring South American countries, including regional giant Brazil, who say the “deeply flawed” ruling threatens them all.
Brazil and Uruguay filed a so-called “friend of the court” brief Friday in the federal appeals court in New York where Argentina is challenging the September judgment by US District Judge Loretta Preska. Chile and Ecuador filed a separate brief in the case.