Burford Fund Seeks Argentina’s Contempt Declaration in YPF Case Thursday
Burford Fund, a key player in the YPF compensation dispute, aims to have Argentina declared in contempt of court. This legal action arises from a 2012 ruling mandating Argentina to pay $16.1 billion for the expropriation of YPF, its oil company. On Thursday, January 15, representatives from Burford Capital and other plaintiffs will submit a formal request to Judge Loretta Preska in New York.
Contempt Declaration Request in YPF Case
The plaintiffs argue that Argentina has failed to comply with court orders. They claim the country has not provided necessary communications, including WhatsApp messages, from key officials. Notably, the request includes communications from the current Economy Minister, Luis Caputo, and his predecessor, Sergio Massa.
Upcoming Defense and Court Timeline
Argentina is scheduled to present its defense on February 19. Legal expert Sebastián Maril noted that Argentina’s compliance with the initial order appears incomplete. As of January 12, six officials had yet to submit the required communications. Despite this, sources from the Treasury Department assert that Argentina has been cooperating with the courts. They report that partial submissions of requested information are ongoing, and most officials have complied voluntarily.
Judicial Proceedings Ahead
While the situation develops, Judge Preska approved the timeline for the plaintiffs’ submissions. A hearing regarding the contempt declaration is set for March 23 and 24. This legal battle over YPF has escalated tensions within the U.S. judiciary, as both parties prepare for an intense series of hearings.
- Plaintiffs: Burford Capital and others.
- Key Figures: Luis Caputo, Sergio Massa.
- Court: U.S. District Court for the Southern District of New York.
- Original Ruling: $16.1 billion due to YPF expropriation.
- Hearing Dates: March 23-24, 2024.
The outcome of these proceedings will be crucial for both the plaintiffs and the Argentine government as they navigate the complexities of international law and state obligations.
