Legal
Burford Seeks Argentina’s YPF Stake to Pay $16 Billion Award
- Fund requests US judge give it 51% interest in state oil firm
- Argentina was ordered to pay judgment over 2012 YPF seizure
A YPF gas station in Buenos Aires.
Photographer: Erica Canepa/BloombergThis article is for subscribers only.
Burford Capital asked a US judge to give it control of Argentine state oil company YPF SA as part of its effort to collect on a $16 billion court judgment against the Latin American country.
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.