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Justice: Argentina will pay 16 billion dollars in damages to two companies

19/09/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Last Friday, Argentina was ordered by an American judge to pay 16 billion dollars in damages to two companies that felt aggrieved by the 2012 nationalization of the YPF oil company, of which they were minority shareholders.

The Petersen company must receive 14.385 billion dollars, 7.5 billion in damages and the rest in interest, while the Eton Park group must receive 1.714 billion dollars, including 816 million in interest, according to Manhattan federal judge Loretta Preska. These minority shareholders of the oil company YPF did not receive compensation, unlike Repsol, and therefore filed a complaint alleging that the country had not filed a public takeover offer as required by law. According to the judge, they will be able to receive interest of 5.42% per year from the date of the judgment until Argentina pays them the bill

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