Milei Suffers Legal Blow in Burford’s $16 Billion YPF Case (4)

Argentina was ordered to give up its controlling stake in energy company YPF SA within two weeks to help satisfy a $16 billion US court judgment, a setback to President Javier Milei ahead of crucial midterm elections.

US District Judge Loretta Preska gave Milei’s government 14 days to surrender 51% of the company’s shares to a global custody account, from which they’ll be transferred to plaintiffs led by litigation funding firm Burford Capital. Burford acquired the interests of former YPF shareholders affected by Argentina’s 2012 nationalization of the company.

Milei confirmed in a post on X that Argentina would ...