Overview
- The Second Circuit in New York on Friday overturned the YPF expropriation judgment, erasing a potential $16–18 billion payout, and President Javier Milei announced the result in a national broadcast.
- Markets moved after the ruling, with YPF’s U.S.-listed shares up more than 7% and Burford Capital down about 45%, reflecting the sharp swing in legal odds.
- Milei framed the decision as a win for his administration and credited the state legal team led by María Ibarzabal Murphy and Sebastián Amerio, while attacking Cristina Fernández de Kirchner and Axel Kicillof over the 2012 takeover.
- Peru’s judiciary advanced separate cases this week as a Supreme Court judge extended Pedro Castillo’s pretrial detention to March 2027 and lengthened the corruption probe, citing flight risk and extensive pending forensic work.
- In other Peru actions, prosecutors sought 3 years and 6 months in prison for former president Francisco Sagasti over the retirement of police generals, and an appeals court rejected Ollanta Humala’s bid to pause the provisional execution of his 15-year sentence.