U.S. court orders Argentina to surrender its 51% stake in YPF oil company

NEW YORK, New York — A U.S. judge on Monday ordered the Argentine government to surrender its 51 percent stake in oil company YPF to partially satisfy a $16.1 billion court judgment .

In this regard, U.S. District Judge Loretta Preska ruled that Argentina must transfer its YPF shares within fourteen days to "a global custody account at BNYM (a financial services bank) in New York."

⚠️ #ECONOMY | Judge Loretta Preska ordered Argentina to hand over 51% of YPF's shares to the beneficiaries of the expropriation lawsuit.

This is a ruling that the country will be able to appeal and is part of the lawsuit for which the State was already ordered to pay more... pic.twitter.com/H4ObRUOEjy