U.S. Judges Question Jurisdiction in Argentina-YPF Case

Two judges on a U.S. appeals panel are questioning the jurisdiction of the United States in a $16.1 billion case involving Argentina's nationalization of oil company YPF in 2012. The questioning occurred during a review by the 2nd Circuit Court of Appeals in Manhattan.

Argentina has insisted that the case should be handled by its own legal system and has raised concerns about how its laws were interpreted by the U.S. trial judge. Meanwhile, Burford Capital, which has bankrolled the litigation, saw its stock drop over 10% following the judges' remarks.

The financial implications are significant, as Burford Capital stands to gain billions if the award to minority shareholders is confirmed. The ongoing legal scrutiny continues to impact stakeholders on both sides of the case.