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If we can get our hands on those YPF shares, or at least the power to do so. This will be our biggest bargaining tool.

Abacus,

Fair point, but if invested in YPF on NYSE, you would have gained wel over over 400 percent in the same 2 year period, still not bad.

Exactly 2 years ago YPF share price was 921.

Today it trades at 29055.

That’s an increase of over 30 times. How I wish I had invested in YPF.

I want my money as well

Blue Wiley,

Don’t think Mr. Marci would be privy to that sort of information.

A couple of dates to watch though……..

4. May 28: Pre-motion conference in Judge Preska's court to present arguments for and against compelling Argentina to produce documents concerning the Republic’s current relationships with certain SOEs.

5. May 30: YPF judgment creditors will file reply to Argentina's response to turnover motion.

Courtesy of Mr. Marci in one of his earlier posts.

BlueWiley,

I agree, Burford will likely go private and could well be good news for us

Continued ……..

The Petersen Group was absolutely out of the claim and the rights to collect, a situation that is judicially clarified in the Spanish justice system and recognized by the Burford themselves who desisted from claiming Petersen

Taken from in todays news;

https://www.delsurdiario.com/35682-nueva-caso-ypf-piden-embargar-aerolineas-argentinas-el-banco-nacion-el-bcra-y-hasta-los-satelites

Burford Capital goes for everything. The winning vulture fund in the trial against Argentina for the way in which the country re-estitized YPF in 2012, not only wants embargoes to be enabled on the shares of the oil company in the possession of the national state, but also seeks to take into account the roles that the country owns Aerolíneas Argentinas, ARSAT, the Central Bank of the Argentine Republic (BCRA), the Banco Nación and Enarsa.

The fund filed a letter in the last hours in the Court of First Instance of the Second Section of New York managed by Loretta Preska, so that the actions that the Argentine Republic has in these societies are considered as an "Alter Ego" of the country. And that, consequently, those positions are considered as part of the assets of the Argentine state. And, then, seizable as a guarantee that the country will fulfill the commitment to pay the plaintiff, the US$ 16 billion plus interest than Burford and Eton Park (as a minority) that Preska considered as claims of the two funds that expired in the trial.

The New York judge, who determined that the lawsuit of Burford and Eton is correct and ruled against the country, a decision that the country took to the second instance of the New York Chamber of Appeals; now she must resolve the claim of the two funds that want to guarantee the future collection, seizure assets of Argentina. In March they had presented the alternative of considering the shares of YPF as "Alter Ego" of the country, and now they extend the claim to those other companies in power all or in part of the Argentine state.

Preska also has to resolve another issue raised by Burford Capital and its partner in the lawsuit, Eton Park: the calculation of interest that the country will have to pay for having decided to appeal to the second judicial instance of the United States. According to the judge, in principle the interest accumulated to date would reach 545,084,808 dollars; so the money that should be paid to the plaintiffs who expired in the first instance would exceed US$ 17 billion today.

That is, the United States. Justice usually takes the performance of the 10-year bonds issued by the government of that country during the current year of the application of the lawsuit, so the final calculation would be just over 500 million extra dollars that should be added to the original claim authorized by Judge Loretta Preska.

Burford claims for the alleged damages that the payment to the Spaniards of Repsol caused to the remaining 49% of the shareholders of the oil company, after the nationalization of 2012. The basis of the demand is for the expropriation of most of the shares of the oil company, but on behalf of the Spanish companies Petersen Energía and Petersen Inversora, two companies already bankrupt, opened by the Petersen Group in the days when it was a partner for 25% of YPF and from the fact that former President Néstor Kirchner enabled his income as local partners of the oil com

RIDER75,

Nice to see someone is checking …

Current SP. 12.50 + 8.93 = 21.43 pounds

Seems correct to me

Bluewiley,

adding to your post.

I think the 28 usd is hopeful but not realistic.

We might get 40% of that with a haircut.

That works out at 11.20 usd or 8.93 pounds.

That would bring us up to 21.43 pounds.

I prefer to calculate on the low side rather than dreamland.

And the bit I didn’t copy, ……….

The final 3 sentences is the shocker, and who we are dealing with

Finally, Maril indicated that it is a problem too complex to let it go without taking an active role on the part of the State: "the expropriation of YPF is the most complex thing that Argentina faces in history. It's 16 billion dollars for a mistake made not only by a government, but by an entire Congress that voted without reading what it was approving."

Taken from source :

https://noticiasyprotagonistas.com/actualidad/sebastian-maril-el-gobierno-argentino-deberia-prestarle-atencion-al-pedido-de-burford-capital/

Sebastián Maril: "The Argentine government should pay attention to Burford Capital's request"

April 22, 2024

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The international analyst referred to what was announced last Friday where Burford Capital asks for 51% of YPF's shares to be transferred to them in the face of the non-compliance of the National State.

Last Friday, Judge Loretta Preska lifted the secrecy of the summary in a presentation made by Burford Capital to transfer 51% of YPF's shares to her in the face of the non-compliance of the Argentine state.

This presentation had been made in April and is very important in the current political context, although it did not have the impact it should have. International analyst Sebastián Maril, spoke about it on 99.9 warning that "I am surprised that there was no noise about this except for the headlines on Friday afternoon and Saturday morning. It is necessary to pay attention to it because it is a snowball that continues to grow. Since Argentina doesn't pay attention to it, we don't sit down to negotiate; so they ask Judge Preska for what they are legally authorized to ask for. That is that 51% of YPF's shares are transferred to them because Argentina is not paying."

After this issue was made known, an explanation from the government on the subject should have been reached, but there was absolute silence: "next act, I expected some kind of comment from YPF or the government, but it did not happen. YPF is obliged to report this to the regulatory body of markets in both Argentina and the United States, so it will have to submit a statement in both exchanges."

Maril was also very clear about the possibilities of these actions being effectively transferred and pointed out that it is almost impossible: "the expropriation law prevents the Argentine government from transferring state-owned shares without two-thirds of Congress approving it. What Burford wants is to make noise and they sit down to negotiate. Judge Preska will order the transfer of the actions and if Argentina does not do it, the contempt that we have not heard since 2014 begins. Milei is targeting the United States for everything he intends for the country, but a country that does not comply with an American court, goes into contempt and is politically serious. They have to pay attention to it."

For the specialist, it is not a minor issue because similar situations will begin to arrive in the future: "this is the beginning, more requests for seizure, transfer of ownership or whatever you want to call it are coming. The problem that we Argentines have is that we do not act until we have the problem in our noses and when we have it, we blame the previous government, the climate or whatever. We avoid facing the serious problems

It’s all over the news in Argentina, now that Lady Preska has unsealed the private information.

Can anyone estimate the current value of the state owned portion of YPF shares. I’m thinking Burford have played a very clever move here.

I am interested to know the views of our viewers on this board.

What is our share price likely to be when we actually have a settlement agreement approved and payments coming through ?

This is of course what we are all waiting for !

I presume this may well be in another 12 months - 18 months time.

Pull back seems to be in progress. It was on the turn before the big sell off in US. Wait for Monday, the Iran situation is also making investors jittery.

Could see a significant drop in markets with this Middle East problem

FFC

You might want to get your wallet out.

Might go down to 1150 in the next couple of days,

What’s your view

BW, is the share purchase complete ?

Share price looking strong, don’t know what is moving it, could be rising with the FTSE, or was it the news on on SYSCO ?

I feel we’re heading back to the 1250’s, then it could be topsy turvy. Somethings going to break, can’t have the FTSE marching on and on.

TWT, thanks for your viewpoint.

The appeal decision should be out October time. Then time to sit down and negotiate. Hopefully, Milei

Has the upper hand by then and can persuade the Argentine parties to back him. A lot of uncertainty, I would like to see Burford seizing some assets to get the message out before then, or at least the threat to

proceed. Any more views are most welcome.

Presuming there will be a settlement agreement on the YPF case.

I would like to put the question of timing to those experienced investors. on this board.

What are your views on when we are likely to see a settlement or indeed news that it is being discussed by both parties.