Although Argentina appealed the ruling Judge Loretta Preska to YPF confiscation, A New York judge also allowed speculative funds Buford Capital and Eaton Park Accessible Information from senior officials To the current and previous government Raised 16.1 billion US dollars.
A Southern District of New York judge on Monday denied YPF’s motion for reconsideration to avoid enforcement of the ruling. Therefore, it is moving forward in the process of determining whether there is an “alter ego” relationship between the State of Argentina and the public limited company that constitutes El Alam Oil Company, with the aim of Seizure of state property If you check it out. To this end, Prisca has enabled information requests from Officials and former officials in the government Javier Miley and Alberto Fernandez.
In total, they will be 35 officials who will be asked to hand over their private communications, including, Sergio Massa and Louis Caputo. The order will include WhatsApp chats, emails And other types of documents.
Authoritarians don’t like this
The practice of professional and critical journalism is an essential pillar of democracy. This is why it bothers those who believe they are the bearers of the truth.
$Libra Case: Hayden Davis’ assets have been frozen and two new clients involved have been identified
“The court reiterated that YPF cannot intervene or stop the execution phase and He confirmed that plaintiffs could file against YPF’s assets Under the Crystallex model“That is, implementing judgments against the Argentine state and seeking to seize the assets of its state company once the alter ego relationship is proven.” Nation Sources close to the lawsuit funds.
he Crystallex case He refers to the Canadian company that was acting as the concessionaire of the Las Cristinas mine in Venezuela, one of the largest gold deposits in that country. In 2008, the government of Hugo Chávez decided to nationalize it and the company filed claims for appropriate compensation. In this case before the Southern District Court of New York A ruling was made in favor of the Canadian company and enabled the seizure of the Venezuelan account At the Bank of New York Mellon Corp.
But the Venezuelan case It is different from YPFConsidering that the Argentine Oil Company is a public limited company with a personality separate from the state, which It has only 51% of the equity package. For this reason, Buford funds look for elements that allow them to build arguments that distort the independence between the company and the state, through an “alter-ego” relationship in order to be able to implement the assets.
The appeal of the ruling is awaiting a response
At the same time, Appeal the ruling Still waiting for it to be resolved. On October 29, lawyers representing the Argentine state requested Prisca’s ruling was rejected At a pre-hearing Second Circuit Court of Appeals From the United States.
According to Argentine lawyers, the case does not belong to the jurisdiction of the United States, and the ruling against Presca “is based on Misinterpretation of Argentine law and legal fiction “With dire consequences it must be set aside.”
For the Argentine defence, “Claimants acquired their shares in YPF in private transactions with… Repsol in SpainWhich suffers from suspicions of corruption and political collusion. With minimal investment, get involved Empty the company through disproportionate dividendsAfter confiscation, They evaded Argentine justice They cited litigation before foreign courts, among other arguments.
LM/ML
About The Author
