The United States Supreme Court will on Friday hear an appeal against a lower court ruling in favour of two former Spanish investors in Argentina's state-run energy company YPF. The case relates to the disputed 2012 renationalisation of the firm.
If Argentina loses the appeal, it could pay up to US$3 billion in damages.
In August, the US Court of Appeals for the Second Circuit allowed Petersen Energia Inversora and Petersen Energia's claim against Argentina and YPF to proceed.
Their litigation is funded by vulture fund Burford Capital which allegedly invested in a percentage of the litigation rights.
A US Court of Appeals ruled that US jurisdiction over the case was not hindered by Argentina's sovereign immunity, since the renationalisation was a commercial decision, a position Argentina has strongly rejected.