Courts / Ireland / Report

Irish courts asked to recognise €15.4bn judgement against Argentine State

Summary

The Irish High Court has been asked to recognise a €15.41 bn judgment against the Argentine State, awarded by a New York court last year for the re‑nationalisation of YPF. Two minority shareholders – the Spanish‑registered Petersen Energia Inversora SAU and Peterson Energia SAU, and the US‑registered Eton Park Capital Management LP, Eton Park Fund LP and Cayman‑registered Eton Park Master Fund Ltd – sued Argentina and YPF after the 2012 nationalisation. They claim the State failed to make a public offer for the remaining 49 % of YPF shares, breaching contract and causing significant losses. The New York court awarded the Petersen group US$14.38 bn and the Eton group US$1.71 bn. The applicants seek Irish recognition to enforce the ruling, arguing Ireland's reputation for predictability, speed, and its status as a major fund‑administration and debt‑securities hub will aid asset location and enforcement.

Who, what, where, when and why

What: Report matter: Irish courts asked to recognise €15.4bn judgement against Argentine State. Procedural stage: hearing_or_decision

When:

• 2008 and 2011 Other
• 2024-04-25 Publication

Why: The court was told the application has been made here because the Irish courts are extremely highly regarded internationally and because Ireland is the place of domicile for six per cent of world-wide fund investment assets and a potential place where Argentina could list debt securities. CNI source report

Places mentioned

Topics

Stage Hearing Or Decision

Read the original CNI report