MADRID, April 8, 2015 /PRNewswire/ --
Two Spanish firms currently in liquidation in the context of insolvency proceedings, Petersen Energia Inversora, S.A.U. and Petersen Energia, S.A.U. (the "Petersen Entities"), acting under the authority of the relevant Spanish court and in the interest of satisfying the debts of the Petersen Entities, have today filed a multi-billion dollar litigation in the Southern District of New York against YPF, the Argentine energy company, and Argentina in connection with the Petersen Entities' losses arising out their 25% holding in YPF. Argentina nationalized YPF in 2012 by expropriating a 51% stake in the company then held by Repsol and last year settled Repsol's claims for $5 billion.
A subsidiary of Burford Capital Limited will provide financing for the Petersen Entities' claims.
The Petersen Entities are being represented in these actions by King & Spalding and Kellogg Huber Hansen Todd Evans & Figel.
Nick Henderson +44(0)20-3021-2583 / +44(0)7870-660-383
SOURCE Petersen Energia Inversora, S.A.U. and Petersen Energia, S.A.U.