Overview

• The High Court Commercial of Ireland, in a 77‑page decision by Judge Eileen Roberts, refused to recognize or execute the New York judgment because it found no realistic prospect of seizable Argentine assets in Ireland and concluded enforcement there would yield no practical benefit.
• The U.S. Court of Appeals for the Second Circuit has stayed Judge Loretta Preska’s June order that would have transferred 51% of YPF to plaintiffs, preserving Argentina’s majority ownership of the company while appeals proceed.
• Creditors who hold the New York judgment — including Burford, Eton Park and Petersen — are pursuing parallel recognition and enforcement requests in multiple jurisdictions such as the U.K., France, Luxembourg, Australia, Canada and Cyprus and continue discovery and asset‑tracing efforts.
• The monetary pressure on Argentina is growing because the original US$16.1 billion award has accrued interest that has pushed the claim past US$17 billion, with reporting that interest is accumulating at roughly US$2–2.3 million per day.
• Key next steps include Argentina’s appellate brief on the share‑transfer order due Sept. 25 and oral argument on the broader appeal the week of Oct. 27, and the parties may press further appeals if those courts reject their positions while the Irish ruling does not decide the underlying merits.