US Court Overturns $16 Billion Ruling Against Argentina Over YPF

A New York appellate court has overturned a $16 billion ruling against Argentina related to the 2012 nationalization of YPF, the country’s state oil company. The March 27 decision invalidates a lower court’s verdict, which had sided with hedge funds demanding compensation for what they argued was a violation of YPF’s statutory obligations during its takeover. This development spares Argentina from a massive financial crisis but delivers a complex political outcome for both President Javier Milei