Overview

• Argentina will file its detailed appellate brief on July 22 asking the Second Circuit to extend the temporary stay on delivering 51% of YPF shares ordered by Judge Loretta Preska.
• The U.S. Department of Justice submitted an amicus curiae brief on July 16 recommending that the transfer order remain suspended pending appeal.
• Judgment creditors Burford Capital and Eton Park signaled they will not take possession of YPF shares and have pressed Argentina to post financial guarantees instead.
• Burford Capital publicly criticized the U.S. government’s intervention as highly unusual and based on erroneous legal premises.
• The Second Circuit’s forthcoming decision will determine whether the stay holds or reactivates Preska’s transfer order, with potential contempt risks and market repercussions for Argentina.