The Legal and Technical Secretary remarked that it was the best possible scenario and highlighted the president's leadership in the defense strategy.
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After the ruling favorable to Argentina in the trial for the expropriation of YPF in the United States, the Legal and Technical Secretary of the Nation, María Ibarzabal Murphy, provided key definitions on the scope of the judicial decision and the work of the Government of Javier Milei who allowed a multi-million dollar conviction to be reversed
.
Speaking with Luis Majul in El Observador, the official highlighted the magnitude of the ruling and its impact on the country: “This is news that has a profound impact, not only for YPF, but for Argentina. It implies that, after all the trial that began many years ago, Argentina had a 'sword of Damocles'
in its head.”
In that regard, he recalled the adverse scenario faced by the State after the first instance resolution: “At the end of 2023, Judge Preska ruled against it, imposing a sentence of 16 billion dollars, which brought up to today with the interests totaled almost 18 billion.”
María Ibarzabal Murphy
The recent ruling of the New York Second Circuit Court of Appeals represented, according to Ibarzabal, the best possible outcome. “The fact that the House has completely revoked this ruling is the best scenario and the most dreamed of for Argentina. The sentence was not reduced, but was completely revoked,” he stressed, stressing the total nature of the
judicial decision.
In technical terms, the secretary also noted how rare a result of these characteristics is in the American judicial system: “The chances of the House overturning a trial ruling in the United States are approximately 15%. That's why today is a day to celebrate
.”
In turn, he explained the alternatives that the plaintiffs could still try: “Regarding the possibility that the ruling is revocable. Today, Burford could ask that the same panel that decided review the sentence (unlikely), that it be reviewed by the full House, or go to court. But the House was clear in saying that there was a misinterpretation of Argentine law.”
Javier Milei and Horacio Marín.
The work of the Milei Government At the
political level, Ibarzabal attributed the result to the leadership of President Javier Milei.
“This is an achievement of the President (Javier Milei), who very clearly set the course for internal teams on how to defend ourselves tooth and nail, protecting the interests of the State,” he said
.
In addition, he highlighted the coordinated work of different State agencies and officials who intervened in the legal strategy: “Internally it is an achievement of many people who work very rigorously during these two years,” he said, before listing members of the Treasury Office, the Foreign Ministry and the Ministry of Economy.
He also referred to the complexity of the process: “During the last time, with the 'discovery' process (which was very aggressive), many officials had to collaborate and it was a great team effort
.”
Finally, the official highlighted the context in which the current administration assumed the defense of the case: “The Milei government seized the case in a very complex instance, a few months after Judge Preska's first instance sentence was lost. A multifocal job was done to be able to win in the Chamber.”
The ruling marks a turning point in a years-long litigation and opens a new phase for Argentina in one of the most important judicial cases in its recent history.
