Argentina appealed September’s New York verdict sentencing the country to pay US$16 billion to the investment fund Burford Capital over the 2012 expropriation of YPF oil company. The appeal against Manhattan Loretta Preska’s September 15 ruling had already been anticipated at that time by Presidential Spokesperson Gabriela Cerruti. The appeal warned that making the multi-billion payment imposed by the ruling would inflict “irreparable damage on a population suffering from high inflation caused by an unprecedented drought,” adding: “The country does not have access to capital markets to issue a bond and deposit a guarantee.”
SOURCE: www.batimes.com.ar