United States Justice rejected Argentina’s request to submit collateral in the multimillion-dollar YPF expropriation trial.
The government now has time to do it pay until January 10th. Otherwise, seizure requests will be triggered.
Judge Loretta Preska, who ordered him to pay 16 billion dollarsgave until January 10 to complete the deposit of the oil company’s shares for the total amount of the judgment.
But the country’s lawyers have asked for that obligation to be suspended or extended for another 90 days. «Due to the difficult economic conditions and the need to implement urgent reforms, Argentina is unable to commit resources as a security deposit of 16,000 million dollars,” reads the letter, which assures that this amount represents 32% of the 2023 budget, at the official price.
Lawyers insist that Javier Milei’s government has only just begun its mandate and, although it has appointed Rodolfo Barra as Attorney General of the Treasury, there is still no designation of who will be in charge of pursuing international litigation against the country.
“Exceptional circumstances justify a postponement until February 22 -and not January 23- the deadline for presenting arguments on appeal” before the New York court, indicates the document presented to the New York trial judge.
The YPF expropriation sentence is the highest ever handed down against a state in history. Argentina asked on October 26 suspend execution of the pending $16.1 billion final judgment and appeal it without bail or impose a provisional sentence.
But Judge Preska surprised by the order of extension belonging to request 30 days to familiarize yourself with the case.“If this judgment is so critical, “You would think that the new government would pay immediate attention to this.”Preška said.
This way the Government has time to pay until January 10th. Otherwise, seizure requests will be triggered.
Expert Sebastián Maril who follows this case criticized the new government for not immediately addressing the issue. “During the presidential campaign, all candidates and close advisors became familiar with the most important issues affecting the country to address them if they became president. They appeared on TV, radio and networks showing their knowledge on economics, security, justice, etc. Now they are asking for 30 days to familiarize themselves with this case. Have you ever thought that Argentine legal risk is important? I have been talking about the problems generated by these disputes since day one. If I were one of the judges of the Court of Appeal, I reject the request”, He said it on X, the former Twitter.
The judge listened to him.
Source: Clarin
