2024-01-11 18:03:00
The United States Justice Department rejected the National Government’s request for an extension to present guarantees for the YPF trial, confirmed January 10 as the deadline to present guarantees and, in the absence of guarantees, the country is in a position to suffer seizures of its assets abroad.
This is what the New York judge determined Loretta Preskawho did not give rise to a new extension request by the Executive within the deadlines, as had been requested this Monday, through a letterwritten through the study Sullivan & Cromwell LLPfirm that represents Argentina in the case for the nationalization of 51% of the shares of the company during Cristina Kirchner’s mandate, to the Spanish Repsol.
In her response, the lawyer assured that, despite “sympathizing with the magnitude of the financial challenges” of the country, “the argument shows that it has not taken, and supposedly cannot take, measures for payment and that it does not have a schedule for do it. then”, so he made this determination.
“The Republic argues that the “dire economic circumstances, including widespread poverty, renegotiation of debt lines with the IMF, inability to access international capital markets, and inflation now approaching 200%” advise once morest accepting the plaintiffs’ motion. “While the Court is sympathetic, the Republic’s own admission of lack of access to funds belies its argument,” the brief added.
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