Overview

• Buenos Aires submitted its appellate brief to the U.S. Court of Appeals for the Second Circuit challenging Judge Loretta Preska’s directive to use the state’s YPF stake to pay the 2012 expropriation award.
• Argentina’s case rests on four pillars: sovereign‑immunity protections for assets abroad, misapplication of CPLR §5225, inapplicability of FSIA execution exceptions, and conflict with Argentine law requiring congressional approval to transfer the shares.
• The U.S. government, in amicus filings, warned that compelling a transfer of foreign‑located sovereign assets would contravene legal limits and risk reciprocal threats to U.S. property overseas.
• A court‑ordered stay remains in effect, with plaintiffs’ response due November 14 and Argentina’s reply due December 12, as appellate proceedings continue.
• Separately, Argentina appealed discovery orders requiring messages and devices from current and former economy ministers, part of creditors’ alter‑ego inquiries involving YPF and other state‑linked entities.