Argentina's Supreme Court orders YPF to publicly release 2013 contract with Chevron

Wednesday, November 11th 2015 - 06:11 UTC

Full article 5 comments

Argentina's supreme court has ordered state-controlled YPF to publicly release all clauses of a 2013 contract with Chevron to develop shale oil in the country's vast Vaca Muerta formation. In a 3-1 ruling, the justices sided with opposition Socialist Senator Hector Ruben Giustiniani, ruling that the state's 51% stake in the firm effectively makes it a public company subject to transparency laws. Read full article

Comments

Disclaimer & comment rules

Marti Llazo
Since YPF has been found by the Argentine supreme court to be a public or national company, that would also make its international assets subject to seizure by creditors.

Argentina had earlier argued that YPF assets could not be seized because it was not a public company, that it was “independent.” There could be a game change now. Still to be seen. But the Argentine supreme court observation that ” “YPF operates under the jurisdiction of the national executive power” certainly increases YPF's asset vulnerability.
Nov 11th, 2015 - 12:39 pm - Link - Report abuse 0
-+
golfcronie
Oh dear, transparency, now who would have thought it?
Nov 11th, 2015 - 03:21 pm - Link - Report abuse 0
-+
chronic
“expropriated shares” = stolen shares

thieves

liars

forgers

perpetrators of fraud

serial defaulters

rotting roadkill - a nation of thugs.
Nov 11th, 2015 - 04:32 pm - Link - Report abuse 0
-+
golfcronie
As any Jew will tell you “ business is business my boy ”
Nov 11th, 2015 - 04:40 pm - Link - Report abuse 0
-+
pgerman
@1

YPF is a company that offers publically its shares so it is an independent legal entity. By the wya, next argentine government, it doesn't matter whether it is Daniel Scioli or Mauricio Macri, will arranged with the bond holders under the NYC juridiction.
Nov 11th, 2015 - 07:56 pm - Link - Report abuse 0
-+
Marti Llazo
@ 5 The Argentine supreme court has made a binding decision which differs from your interpretation.
Nov 11th, 2015 - 08:38 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!