Repsol Seeks $50M From BNY Mellon Over YPF Nationalization

Law360, Los Angeles (August 1, 2012, 8:04 PM EDT) -- Repsol SA launched a $50 million breach of contract suit in New York state court Tuesday alleging The Bank of New York Mellon Corp. ignored voting instructions when electing a board to its YPF Sociedad Anonima before YPF was nationalized by Argentina earlier this year.

The refusal of BNY Mellon — which held nearly half of Repsol's 11.4 percent stake in YPF — to honor the voting instructions at a June board meeting allegedly allowed the Spanish oil and gas giant to nominate just one director...
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