Argentina urged a U.S. judge not to enforce a $16.1 billion judgment arising from the government's 2012 seizure of a majority control in state-controlled oil company YPF, while the cash-strapped country appeals the judgment, Reuters reported. In a Thursday night filing with the U.S. District Court in Manhattan, Argentina said enforcing the "truly overwhelming" judgment or requiring that it post bond would "cripple a nation already suffering from severe inflation and drought." Two investors, Petersen Energia and Eton Park Capital Management, sued, and last month U.S. District Judge Loretta Preska awarded them the $16.1 billion including interest. Burford Capital, which funded the litigation and, according to court papers, was entitled to a respective 70% and 75% of Petersen's and Eton Park's damages, called Preska's decision a "complete win." Argentina had argued it should pay no more than $4.92 billion. Repsol ultimately received about $5 billion of compensation.
