Samuel Estreicher is Dwight D. Opperman Professor of Law and Director of the Center for Labor and Employment Law, New York University School of Law. Southern District Awards $16.1 Billion in Damages Against Argentina for Breach of Contract Involving Oil Company Bylaws
In his Foreign Relations Law column, Samuel Estreicher discusses two cases out of the Southern District of New York, in which the court entered a judgment of $16.1 billion in damages against Argentina (one of the largest—if not the largest—judgments in the court's history) relating to conduct occurring nearly entirely outside the United States.
December 20, 2023 at 09:48 AM
6 minute read
Damages
In Petersen Energia Inversora v. Argentine Republic, No. I: 15 CIV. 2739 (LAP) and Eton Park Capital Management v. Argentine Republic and YPF, No. 1:16 CIV. 869 (both S.D.N.Y. Mar. 31, 2023) (Petersen), the U.S. District Court for the Southern District of New York (per Judge Loretta Preska) entered a judgment of $16.1 billion in damages against Argentina, one of the largest—if not the largest—judgments in the court's history, relating to conduct occurring nearly entirely outside the United States.
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