American judge Loretta Pressk YPF, occurred in 2012. This Tuesday, PRell rejected a new motion presented by the Argentine State, which sought to limit the scope of the discovery process the judicial stage in which the parties must deliver relevant information for the execution of a sentence exclusively to the state assets that are seized.
The decision represents another coup for the country’s legal strategy, which faces a sentence for 16,100 million dollars imposed in 2023, after the favorable ruling to the Burford Capital and Eton Park funds, who acquired the litigation rights of the Argentine group Petersen, former minority shareholder of YPF.
Argentina had requested that the Discovery process be limited to assets that could be executable, citing relevant jurisprudence as the failure of the United States Supreme Court in the Argentine Republic case vs. NML capital, which restricts the search for goods to those susceptible embargo.
However, Preska dismissed the statement and argued that this precedent had already been considered, and that it did not prevent investigation into extraterritorial assets of the Argentine State.
In its resolution, the judge argued that the reconsideration motions “are generally denied, unless the requesting party can show decisions or data that the court has overlooked and that they could change the conclusion achieved.”
In this case, he considered that Argentina simply tried to “tell” an already resolved issue, without providing new elements that justified a review. With this ruling, Preska enables the plaintiffs to continue with the collection of information on state assets, including bank accounts, properties and property abroad, which could be used to execute the sentence.
Assets
This includes even assets that are not protected by the Sovereign Immunity Law (FSIA), provided they are not considered diplomatic or essential for government functions. Last week, the same judge had already rejected another motion from Argentina that sought to prevent access to electronic devices and personal accounts of officials and former officials involved in the case, such as Sergio Massa and Luis Caputo.
The Treasury procurement described both resolutions as “wrong” and announced that adequate procedural routes are being evaluated for their challenge, as part of the General Strategy of Defense of the Argentine State. Litigation by the nationalization of YPF He has been in American courts for more than a decade.
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