Argentina says US Justice Dept backs bid to halt discovery in YPF nationalization case

The U.S. Justice Department filed a memorandum supporting Argentina's request to suspend discovery in a New York court case tied to the 2012 nationalization of state oil company YPF, according to Argentina's Treasury Attorney's Office. The DOJ backing could delay discovery and extend the litigation timeline and related legal costs for claimants, but is unlikely to produce an immediate market reaction.

Analysis

The U.S. Justice Department filed a memorandum supporting Argentina's request to suspend discovery in a New York court case tied to the 2012 nationalization of state oil company YPF, according to Argentina's Treasury Attorney's Office. The DOJ backing could delay discovery and extend the litigation timeline and related legal costs for claimants, but is unlikely to produce an immediate market reaction.