The Argentine plaintiffs in YPF expropriation trial They threatened to question the American judge Loretta Preska to explain the state and its officials in “disrespect“As per your orders are pushing for a trial or direct payment of the $16.1 billion judgment plus interestwhich accumulate an additional $2,000 million and run at an annual interest rate of 5.42%.
Corporate insolvency administrator Petersen Energía, Petersen Energía Inversora (which belonged to the family Eskenazi) And Eton ParkEditfinanced by Burford Capitalmay become a real problem for the country while the appeal of the substantive judgment and two other parallel cases are resolved.
The request to Judge Preska comes because the plaintiffs believe that the state has not complied with the timely delivery of notices from officials and former authorities, even though the country still has one Extension until January 10, 2026 to do so within the new formal deadline. They were only able to submit this application from January 15th.
It should be made clear that the Argentine defense points out that it is not the state’s responsibility to intervene in communications and that, if the case arises, it can only rely on the goodwill of each named person discoverywhere it tries to find out whether companies and organizations such as YPF, Enarsa, Aerolíneas Argentinas, Arsat, Banco Nación and the Central Bank “alter ego“of the state to confiscate its assets.
If Judge Preska were to label Argentina in “contempt,” she would open the door to possible seizures of assets abroad and additional sanctions for officials, in addition to making it more difficult for the state and therefore for companies to find financing by driving up the price of government bonds and increasing the country’s risk.
“The most immediate damage is reputation: Argentina would not play by New York’s ‘rules of the game’. There is a history of defiance by Argentina in 2014, declared by Thomas Griesa (Preska’s predecessor), and one of the consequences was failure to pay its debts and default,” explained a source who preferred to keep his name secret.
Sebastián Maril, CEO of Latam Advisors, emphasized: “The last time Argentina was despised was in 2014-2015, when Cristina Kirchner was president and we were in the middle of the fight with the objectors. At that time we were outside the capital markets and therefore it did not have a big impact on us. Now it is different because we are trying to enter the markets.”
“We don’t know if Preska will call Argentina in contempt, but there are rebuttals in the case until March 5, when Wall Street begins ‘Argentine Week.’ We’ll have to see if any of the judge’s sanctions can prevent officials from entering the United States,” he assessed.
From the Attorney General’s Office of the Ministry of Finance, which implements the State’s strategy, they made it clear that “Argentina is not being despised at this time.” “The plaintiffs will only be able to ask the court what they want from January 15. Argentina has been more than cooperative throughout the process.” discovery and we continue to deliver what we receive through the phones of those who have cooperated and given their consent.
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