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Spanish energy giant RepsolBuenos Aires Times | News from Argentina and beyond – in English
•Business
Business & Economics
73% Informative
US District Judge Loretta Preska on Monday ordered Argentina to surrender its majority stake in the energy giant.
She said the nation must hand over 51 percent of YPF ’s shares to partially settle a US$16.1-billion debt owed to two companies affected by the controversial nationalisation of the oil firm in 2012 .
President Javier Milei promptly vowed to appeal, while blaming the main opposition Peronist movement for the court furore.
The expropriation case was brought before US courts because YPF is listed on the New York Stock Exchange .
Argentina failed to comply with a court order to post a guarantee while the appeal was being resolved.
Under US law, this allowed the judgment’s beneficiaries to seek seizure of YPF shares.
Given Argentina 's non-compliance, the judge has now ordered the shareholding package to be handed over to the beneficiaries.
VR Score
75
Informative language
76
Neutral language
22
Article tone
formal
Language
English
Language complexity
59
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
1
Source diversity
1
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