Repsol Hits Argentina With US Class Action In YPF Fight

Law360, New York (May 16, 2012, 7:56 PM EDT) -- Spanish oil giant Repsol YPF SA hit Argentina with a proposed class action in New York federal court Tuesday, claiming the country violated shareholder agreements when it nationalized the company's Argentine operation YPF earlier this month.

The suit is the latest fallout from Argentina's decision to resume control of YPF by appropriating nearly all of Repsol's stake in the former monopoly. Since the country in mid-April proposed the nationalization bill — which subsequently passed — Repsol's stock has plummeted, Spain has moved to bar imports of...
To view the full article, register now.