Preska Rejects YPF Bid to Block Discovery, Clearing Path to Probe Assets in $16.1 Billion Case

Plaintiffs move to test an alter‑ego theory that could expose YPF’s property to collection under a Crystallex‑style strategy.

Overview

U.S. District Judge Loretta Preska denied YPF’s reconsideration request and reaffirmed orders requiring the company to provide information for post‑judgment discovery.
The underlying first‑instance ruling requires Argentina to pay about US$16.1 billion, and enforcement may proceed because an appeal does not automatically stay a U.S. judgment.
Preska’s directives include collecting off‑channel communications such as emails and WhatsApp messages from senior officials, with Argentina indicating it will seek consent from 35 current and former officials.
Plaintiffs Burford and Eton Park are pursuing discovery to show YPF functions as the state’s alter ego, a step that could allow attachment of company assets.
Argentina’s appeal is pending before the Second Circuit after a recent hearing focused on forum non conveniens, and YPF could contest any alter‑ego finding if the Republic is deemed its proxy.