RE: Seb on X12 Aug 2025 12:28
🛑 Clarifying Today’s YPF Court Decision to Avoid Misinterpretation
Allow me to clarify a few points to prevent confusion when the U.S. Court of Appeals issues its decision in the YPF case, which could be announced today or tomorrow.
1.While procedural in nature, this ruling carries a significance comparable to the USD 16.1 billion judgment.
2.The decision will determine whether Argentina must transfer its YPF shares while appealing the June 30 order that compels the country to hand them over.
3.The judgment creditors have already stated that, if they were to receive the shares —which, in practice, is highly unlikely— they would hold them in the Bank of New York Mellon account pending resolution of Argentina’s appeal.
4.If the Court of Appeals rules in Argentina’s favor, the shares would return to Caja de Valores. If it rules in favor of the creditors, they would take full possession and could dispose of them as they see fit. However, that final ruling is still far off.
5.If today’s ruling —likely to be made public tomorrow— goes against Argentina, the matter could be taken to the U.S. Supreme Court on an expedited basis under the so-called “shadow docket.”