Buenos Aires, Dec. 23 (NA) – Federal Judge in New York Loretta Preska suspended a previous order to investigate the assets of the oil company YPF that could potentially be seized by the national state. This surprising measure was taken in the context of the lawsuit for violation of the company's statute at the time of the expropriation. The news was revealed by market specialist Sebastián Maril, as learned by the Argentine News Agency. 'Christmas gift for YPF: Preska grants the oil company's request to suspend the discovery of the Alter Ego (search for assets to be seized),' Maril indicated. He stated that the decision was made while YPF is appealing the same judge's decision that allowed for said discovery and prevented YPF from mounting a defense, as the company believes the state is doing so in its place. 'This order does not apply to the discovery against other sovereign assets, which remains in effect,' Maril explained.
New York Court Suspends YPF Assets Investigation
A federal judge in New York has suspended the investigation into the assets of Argentine oil company YPF, which were at risk of being seized. This surprising development comes in the middle of a legal battle over the company's expropriation.