Overview

• The Second Circuit formally suspended Judge Preska’s June 30 order, halting the forced transfer of Argentina’s 51% YPF stake.
• Argentina may retain its shares in Caja de Valores without posting a guarantee while its appeal moves forward.
• The U.S. Department of Justice was admitted as amicus curiae, supporting Argentina’s sovereign-immunity and comity defenses.
• Appellate briefing is scheduled for Sept. 25, and a three-judge panel will hear arguments the week of Oct. 27.
• Holdout creditors Burford Capital and Eton Park continue district court discovery and press alter ego claims to enforce the $16.1 billion judgment.