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Search resuls for: "Axel Kicillof"


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The payout includes the approximately $8.4 billion of damages Burford sought plus about $7.6 billion of 8% prejudgment interest running from May 3, 2012, about 2-1/2 weeks after the seizure. Argentina, which is in dire financial straits including a scarcity of foreign exchange reserves, pledged an immediate appeal. Shareholders' $8.43 billion damages estimate was based on Argentina's seizure of the YPF shares on April 16, 2012, which they said transferred "control." But the judge found it "telling" that Argentine officials treated April 16 as the seizure date, which stripped Repsol of its power to run YPF and distribute capital. The judge also called 8% interest "appropriate and equitable," and "well within the range" imposed by Argentine courts.
Persons: Loretta Preska, Burford, Preska, Axel Kicillof, Gabriela Cerruti, Cerruti, Nate Raymond, Jonathan Stempel, Adam Jourdan, Rodrigo Campos, Mark Porter, Will Dunham, Richard Chang Organizations: YPF, U.S, District, Burford Capital, Petersen Energia Inversora, Eton Park Capital, Jefferies, Petersen, Eton Park, Argentina, International Monetary Fund, IMF, Argentine, Thomson Locations: Argentina, U.S, Manhattan, Burford, London, New York, Buenos Aires, Qatar, China, Boston
Fernandez, who has seen his popularity slide and whose ruling coalition was badly defeated in midterm congressional elections last year, said that the state would "challenge the members of the Supreme Court" and seek to have the ruling revoked. His remarks sparked off a backlash on both sides, some agreeing with the president that the ruling was unjustified and others saying the rejection of a Supreme Court decision set a dangerous precedent and undermined the justice system. "The president decided to break the constitutional order, completely violate the rule of law and attack democracy," said Buenos Aires city mayor Horacio Rodríguez Larreta, who is seen as a potential 2023 presidential candidate. "This measure is, under current conditions, impossible to comply with," said Buenos Aires province Governor Axel Kicillof. "There are already 18 governors who denounce the partisan decision of the Supreme Court to benefit the head of the city government against all the provinces."
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