Overview

• High Court Commercial judge Eileen Roberts declined to recognize and execute the New York ruling, citing no executable Argentine assets in Ireland and no practical benefit to litigating there.
• This is the first decision on creditors’ multi‑jurisdiction enforcement efforts, with related recognition bids still pending in the United Kingdom, France, Luxembourg, Australia, Canada and Cyprus.
• The Irish ruling follows the U.S. Second Circuit’s stay of an order requiring Argentina to transfer 51% of YPF shares while appeals proceed, with the U.S. Department of Justice participating as amicus supporting sovereign‑immunity arguments.
• Key U.S. appellate deadlines are set, with Argentina’s brief on the share‑transfer issue due September 25 and oral arguments on the underlying judgment scheduled for the week of October 27.
• The original award of about US$16.1 billion from September 2023 has grown with interest, with reported claims now in roughly the US$17.5–18.0 billion range.