Hedge fund Burford Capital has secured a key enforcement victory in its $16.1bn legal battle with Argentina, after a US District Judge ordered the country to transfer a controlling 51% stake in energy giant YPF to the fund within two weeks. The ruling follows Burford’s successful lawsuit over Argentina’s 2012 expropriation of YPF shares, in which the court found the country failed to make a mandatory tender offer to minority shareholders. Burford acquired litigation rights in 2015 and has since pursued Argentina for damages. The case is under appeal and could ultimately reach the US Supreme Court. Argentina’s President Javier Milei has vowed to fight the decision.
SOURCE: HEDGE WEEK
https://www.hedgeweek.com/burford-capital-scores-major-win-in-ypf-case