A New York appeals court on Friday struck down a $16.1 billion judgment against Argentina, overturning a lower court’s order to compensate former shareholders of the nationalized energy giant YPF, a decision that was celebrated by Argentine President Javier Milei.
In the latest ruling in the long-running legal case reviewed by The Associated Press, the U.S. Court of Appeals for the Second Circuit overturned a 2023 judgment in which U.S. District Judge Loretta Preska ordered Argentina to compensate investors — Petersen Energía and Petersen Energía Inversora — for the seizure of a majority share in YPF Energy in 2012.
