Oil & Gas
US sides with Argentina in conflict over $16 billion YPF judgment
The U.S. federal government sided with Argentina in urging a federal judge not to force the cashstrapped nation to quit its 51% stake in oil and gas business YPF to partially satisfy a $16.1 billion court judgment. In a Wednesday night letter, called a declaration of interest, to U.S. District Judge Loretta Preska in Manhattan, the Department of Justice said it has actually long argued that U.S. courts can not order the seizure of foreign sovereign home situated outside the United States. It also stated it would break sovereign immunity to need Argentina to turn over the shares to 2...