The National Government officially demanded the suspension of the decision of the American judge Loreta Preski, which orders the YPF to provide shares to the Burford Capital Vulture Foundation and confirmed that it is being promoted to turn back the decision. The press secretary of the President Manuel Adornie said in the X (former Twitter) that the proposal is “legally inappropriate” because “contradicts the Law 26 741”, which requires permission from the congress from aggravating circumstances for any transfer of oil shares.
The government demanded the suspension of the decision of the judge and work in appeal. The verdict, which orders for the commission of YPF actions are legally inapplicable: it contradicts the Law 26 741, which requires the permission of Congress by the majority under aggravating circumstances and does not know immunity …
– Manuel Adorni (@madorni) July 2, 2025
“The decision does not know sovereign immunity and does not take into account that actions are not taken by the state or are legally transmitted,” said Adornie. The official position notes the line of legal protection: given that YPF is a corporation with private shareholders, the Argentine state claims that it cannot be compliance with a proposal for a legacy that does not directly manage.
Failure against Argentina: von
This conflict arose as a result of the expropriation of 51% YPF in 2012, when the government of Christina Fernandez de Kirschner decided to restore state control over the company. Burford Capital, a fund specializing in litigation, acquired the rights to the demand of minority shareholders and achieved the fact that the US justice will fail in its favor in accordance with the argument that the state violated the corporate law of the company without launching a public proposal for the remaining actions.
According to the previous legal analysis, the Argentine defense insists that the expropriation was a sovereign law covered by the constitution, and that not a single private charter can put itself in accordance with the decision of public interest approved by Congress. Nevertheless, the judge Preka rejected this argument, which forced the government to accelerate the legal strategy in order to prevent concrete sentence.
Meanwhile, the market follows in this case: YPF shares fell by 5% after they learned about this decision, reflecting the concern for the future of the company.
The government also evaluates the modifications of the corporate corporate statute in order to protect it from future requirements, although this measure generates internal units. Given the appeal, the dispute held by YPF becomes another combat front between Argentina and vultures in the context of growing stresses from strategic energy resources.
