A week earlier, Preska had made clear it was siding with the plaintiffs in the long-running dispute. Burford Capital, which funded much of the litigation, had said after last week’s ruling that it represented “a complete win against Argentina.”
Congress passed a law expropriating 51% of the shares of YPF from then-majority shareholder Repsol, a Spanish firm. Repsol ultimately received compensation worth some $5 billion. YPF is listed on the New York Stock Exchange, so the plaintiffs were able to file their suit in U.S. court.