Overview
- Burford, which filed the en banc petition Friday, asked the full Second Circuit to revisit the March 27 ruling that erased the $16.1 billion first‑instance judgment against Argentina.
- If the court declines, the fund says it will seek Supreme Court review, while conceding the odds of further relief in U.S. courts are low.
- The firm plans to launch arbitration at the World Bank’s ICSID under Spain–Argentina and U.S.–Argentina investment treaties, a move Argentina’s Treasury lawyers call improper.
- U.S. District Judge Loretta Preska approved Burford’s reuse of documents, depositions, and other discovery from the New York case in any future arbitration, subject to confidentiality.
- Burford recorded roughly $2.4 billion in non‑cash losses tied to YPF and marked the case down to $93 million, while noting it has already collected about $236 million in cash from the matter.