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Three Argentine Governors Seek U.S. Criminal Probe Into 2007 YPF Deal

Their goal is to derail enforcement of the $16 billion YPF judgment through a U.S. fraud inquiry.

Overview

  • Governors Alfredo Cornejo (Mendoza), Ignacio Torres (Chubut) and Claudio Vidal (Santa Cruz) moved Monday to prompt U.S. authorities to investigate the Grupo Petersen/Eskenazi purchase of YPF shares in late 2007.
  • They contend the entry was irregular and potentially fraudulent, a finding they say could undercut the legal foundation of Burford Capital’s award.
  • The trio cite their provinces’ Class B shareholdings granted by the 2012 expropriation law and warn that executing the U.S. judgment would reshape YPF’s capital structure and governance.
  • Argentina remains on appeal in the U.S. Second Circuit over Judge Loretta Preska’s rulings, with a pause on turnover orders as the government argues sovereign immunity and limits on forcing transfer of YPF shares.
  • Other oil‑producing provinces, including Río Negro and Neuquén, have not announced participation in the initiative.