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ARGENTINA | Yesterday 11:23

US judge orders Argentina’s Economy Minister to turn over YPF texts

Burford is backing litigation against Argentina in the US.

Argentina was ordered by a US judge to turn over top officials’ Gmail, WhatsApp and Signal messages to former YPF SA shareholders trying to collect a US$16-billion judgment against the South American nation.

US District Judge Loretta Preska said Tuesday that plaintiffs backed by litigation funding firm Burford Capital were entitled to messages from Economy Minister Luis Caputo and several former officials. She noted that the Argentine press has reported on the widespread use of unofficial apps by President Javier Milei and his circle to transact government business.

Robert Giuffra, a lawyer for Argentina, suggested in a hearing Tuesday that the country may seek to appeal the ruling. Giuffra said in an earlier hearing that turning over the messages won’t be easy.

“To go off on a wild goose chase and try to get the individual iPhones and cell phones of people is very, very difficult,” he told Preska. Argentina’s Ministry of Economy did not immediately respond to a request for comment.

Burford is backing litigation against Argentina in the US and in seven other countries to try to collect the judgment, the largest ever entered in Manhattan federal court. According to plaintiffs, Argentina is dragging its feet and resisting payment of money it owes shareholders who lost money when YPF was nationalised in 2012.

Argentina is appealing the judgment and a June 30 ruling by Preska requiring the nation to turn over its controlling interest in YPF, the national energy company, in partial payment. The South American country argued in court papers that Burford is using litigation to throw “sand in the gears” of its efforts to fix its economy and rejoin capital markets, quoting Burford’s chief executive officer on a November earnings call.

In addition to Caputo, Preska ruled officials from previous administrations, including former Economy Minister Sergio Massa will also have to turn over phone messages.

The case is Petersen Energia Inversora v. Argentine Republic, 15-v-02739, US District Court, Southern District of New York (Manhattan).

TIMES/BLOOMBERG

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