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Argentina: Government sued over YPF tender rules

By  |  May 26, 2015

Argentina’s government is facing a fresh lawsuit filed by Burford Capital Investment Fund, representing the Petersen Group’s debt liquidation process.

The suit, filed in New York, accuses the government of failing to launch a Public Acquisition Tender for the state’s oil company, Yacimientos Petrolíferos Federales (YPF) during the expropriation process that stripped Spanish energy giant Repsol of 51% of the company’s shares.

The plaintiffs have filed the suit “in relation to the Petersen Group’s losses” as a result of their 25% share in the oil company before its expropriation. The suit does not affect the agreement between Repsol and the Argentinean government. In response, YPF has dismissed the accusations as ‘unfounded’ and promised to defend itself vigorously.

Full content: IM Energía

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