YPF investors ask U.S. Supreme Court to revive $16.1 billion judgment against Argentina

Investment firms Petersen Energia and Eton Park have petitioned the U.S. Supreme Court to revive a $16.1 billion judgment against Argentina in the ongoing YPF litigation. The firms argue that a March decision by the 2nd U.S. Circuit Court of Appeals, which held the claims should be heard in Argentine courts instead of the United States, improperly allows a foreign nation to avoid liability in U.S. courts.

The dispute centers on Argentina's 2012 nationalization of a controlling stake in YPF, with the investors claiming the government violated YPF's bylaws by failing to offer the minority shareholders a tender after seizing a 51% stake from Spain’s Repsol. The petition, filed by former U.S. Solicitor General Paul Clement, questions whether a foreign sovereign can use its own laws to require claims to be brought to its domestic courts, despite jurisdiction established under the Foreign Sovereign Immunities Act.

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