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YPF’s investors have asked the US Supreme Court to reinstate a $16.1bn judgment against Argentina in a long-running dispute over the company’s nationalization. Petersen Energia and Eton Park are challenging a previous appeals court ruling that said the claims should be heard in Argentina rather than the US. The dispute dates back to 2012, when Argentina took control of a 51% stake in YPF from Spain’s Repsol. The investors argue that Argentina failed to make a required tender offer to minority shareholders following the takeover. A US district court had previously awarded the investors $16.1bn after more than a decade of litigation. The investors are now asking the Supreme Court to review whether Argentina can rely on its domestic laws to move the dispute away from US courts. Argentina said the latest filing was an anticipated procedural step and that it is working on its response.
YPF’s 10% 2028s were trading at 100.5, yielding 9.7%.
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