US judge criticizes Argentina while delaying 51% YPF stake turnover

A US judge has given Argentina a little extra time (till July 17) to turn over its 51% stake in oil and gas company YPF to partially satisfy a $16.1 billion judgment while criticizing Argentina for resisting payment. The deadline was pushed to let Argentina continue seeking relief in the 2nd US Circuit Court of Appeals. Burford is expected to receive 35% and 73% of Petersen's and Eton Park's respective damages, while Argentina has warned that its economy could be destabilized if it gives up its controlling stake in YPF.

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