U.S. Appeals Court Hints at Overturning $16.1 Billion Ruling Against Argentina

A U.S. appeals court is considering overturning a $16.1 billion ruling against Argentina regarding the seizure of YPF, emphasizing the case should have been resolved domestically.

• On Wednesday, a three-judge panel from the 2nd U.S. Circuit Court of Appeals in New York City indicated that the $16.1 billion judgment against Argentina may be overturned.
• The judges showed support for Argentinas claim that the case involving YPFs seizure should be adjudicated in local courts under Argentine law.
• Argentinas argument centers on the principle of eminent domain, asserting that the U.S. court lacks jurisdiction over the expropriation of its state-owned petroleum company.