US Court of Appeals for the Second Circuit halts investors' efforts to trace Argentina's US assets
Change
The US Court of Appeals for the Second Circuit paused investor discovery into the location of Argentina's assets in the United States, including central bank reserves such as gold bars, and stayed those proceedings while appeals of a roughly $16.1 billion judgment proceed.
Why it matters
The pause prevents plaintiffs from using US court discovery to locate or seize US-based Argentine property, blocking a key enforcement route for the judgment. As a result, district-court orders tied to enforcement — including prior directions about Argentina's YPF stake — cannot be carried out until the appeals court issues its decision.
Implications
- • Petersen Energía and Petersen Energía Inversora's legal teams must suspend US discovery motions and related enforcement actions — any attempted discovery will be stayed while the Second Circuit resolves the appeal.
- • Burford Capital's claims management must halt financing of US asset-tracing operations for the YPF enforcement effort to avoid funding activity that the appeals court has stayed.
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