A New York appeals court has temporarily suspended Judge Loretta Preska’s order to Argentina to hand over its YPF energy company shares to the Burford Capital hedge fund. The court also authorized the United States government, which has shown itself sympathetic towards Argentina’s position, to participate in the original expropriation lawsuit as “amicus curiae.”

The U.S. Court of Appeals for the Second Circuit issued its decision on Friday, meaning the stay on the order will be in place until Argentina’s appeal against Preska’s ruling to grant the shares is resolved.

On June 30, Preska ordered Argentina to hand over 51% of its YPF shares as a partial payment to plaintiffs who in 2023 won a US$16.1 billion lawsuit over the company’s 2012 nationalization. In early July,........

© Buenos Aires Herald