This Wednesday the trial for the expropriation of the national energy company YPF began, in which the amount that Argentina must pay to the vulture fund will be defined Burford Capital. The judicial process began eight years ago, in 2015, when the company acquired the rights to litigate against the National State from the minority shareholders of YPF at the time of the renationalization, the firms Eton Park y Petersen Energy. Although the judge who intervenes in the case –Loretta Preskasuccessor of Thomas Griesa- already has a previous ruling against our country, exempting the national oil company from responsibilities.
Within this framework, the president of YPF, Pablo Gonzalezpointed this Thursday against the Argentine businessman and creator of Mercado Libre and Mercado Pago, Marcos Galperinwho published on his social networks that “the expropriated made the best deal in history.”
“We understand oil and gas as something strategic for the country’s development, which cannot be compared to a trading site. But also I understand, because they told me, I don’t know if it’s true, that (Galperin) has to do with this fund that is related to the trialGonzalez said in AM750.
Minutes later, the economist from AM750 Hernán Letcher maintained in Here There and Everywhere that whoever acts as a link between Galperín and the vulture fund that litigates against Argentina would be the owner of the 12.2% of the shares of Free Market, Baillie Gifford & Co., which is also an institutional investor in Burford.
In turn, the president of the national energy company pointed out that, even if Judge Preska established the amount to be paid above the 4.920 million dollars proposed by Argentina, the value of Vaca Muerta is significant for the country.
“What is the value of the second unconventional gas reserves in the world and the fourth oil?“, ironized González in Here, there and everywhere.
On the other hand, the official downplayed the Argentine position regarding the resolution of this instance of the litigation. “The amount is being discussed and then there are two appeal instances, an Appeals Chamber and the United States Court, which is not final“, he warned.
In addition, González pointed out that “there is great confusion” in the national media regarding who was convicted in the trial initiated by the vulture fund, because the oil company was exempted from responsibilities.
“The ruling resolves not to condemn YPF, which I think was what Burford was looking for, but rather the sovereign Argentine State“, he clarified.
