Argentina Wins Appeal Against $16.1B Ruling on YPF
Argentina got a U.S. court decision against it over the 2012 seizure of YPF SA (YPF) thrown out on appeal, as a federal appeals court said the Manhattan judge who issued a $16.1B award wrongly ruled in favor of former shareholders who said they were harmed by the nationalization of the Argentine oil company, according to Bloomberg. The suit was backed by litigation funder Burford Capital (BUR), which would have taken a large share of the award and is seeing its shares plunge after the appeals court's opinion became public.
