Overview
- Judge Loretta Preska will decide on July 14 whether to grant Argentina’s request to suspend execution of her June 30 order directing the transfer of 51% of YPF shares to holdout creditors.
- Argentina has filed parallel appeals in the Second Circuit and indicated it could seek U.S. Supreme Court review if it suffers further adverse decisions.
- The Second Circuit split Preska’s rulings into four separate appeals, a development Argentina welcomed as a means to delay enforcement.
- Preska has scheduled a conference for July 15–16 between Argentina and creditors to address disputes over disclosure of assets held by Aerolíneas Argentinas, ARSAT, ENARSA and the central bank.
- The Argentine government argues that any share transfer would breach its 2012 expropriation law and must obtain approval by two-thirds of Congress.