United States says it may weigh in on Burford’s US$16-billion Argentina award

The US government is “actively considering” whether to file a statement of interest concerning Burford Capital’s efforts to collect a US$16-billion judgement against the Argentine government. Last week, the US Justice Department asked US District Judge Loretta Preska in Manhattan to delay ruling on Burford’s motion for an order requiring Argentina to turn over its 51 percent interest in oil company YPF SA to help satisfy the judgement. The US government said it would submit a statement November 6, if it chose to do so. If it files a statement, the US position could further complicate Burford’s path to a massive payout after it bought a portion of the case in 2015 for just US$16.6 million.

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