Seb Maril Twitter Updates31 May 2024 11:04
Post 1. On Thursday, YPF judgment creditors will file their last brief in support of their motion to compel Argentina to turnover YPF shares owned by the Republic. I don't expect a decision before mid July. Bainbridge Fund has also filed a turnover motion and will file its last brief late June.
Post 2. Heard in Judge Preska's courtroom this week:
“We’ve been waiting over a decade. Your Honor has been with this case for over a decade. Judge Griesa before him with Argentina had to deal with this [intransigence] for 20 years, God rest his soul. And your Honor, I don’t want to be here in ten years. I want to get that discovery now. I want to get it from them, I want to get it from Argentina, and I want to get my money.”
Clear as water.
Post 3. Judgment creditors suggest that Judge Preska should compel the Republic to negotiate and resolve the YPF case.
This litigation has seen four different presidents and none has paid the attention it deserves. It’s time for Argentina to stop kicking the can down the road a sit with judgment creditors and put and end to this litigation. President Milei has the unique opportunity to differentiate himself from his predecessors.
"The far better course is to take action now to force Argentina to the bargaining table so that the parties can negotiate an orderly and meaningful remedy for the rights that this Court has recognized. And to the extent there is concern about Plaintiffs actually obtaining and selling the YPF shares before the resolution of the underlying appeal, that issue can be addressed in the context of stay briefing when Argentina brings its promised appeal."
"For these reasons, Plaintiffs respectfully request that the Court order Argentina to: (i) transfer its YPF shares to a global custody account BNYM in New York; and (ii) instruct BNYM to transfer the shares to the U.S Marshal for the S.D.N.Y. for sale to the public"
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