Petersen Energia Inversora SAU and and Petersen Energia SAU v Argentine Republic and YPF SA - United States District Court Southern District of New York - Case no 15-cv-2739 LAP - Opinion and Order by Judge Loretta A Preska - 9 September 2016
Opinion and Order
Plaintiffs Petersen Energia Inversora, S.A.U. and Petersen Energia, S.A.U. (collectively, "Petersen" or "Plaintiffs"), bring this action against the Republic of Argentina ("Argentina") and YPF S.A. ("YPF") (collectively, "Defendants"), alleging that the Defendants breached obligations arising out of YPF's bylaws upon Argentina's expropriation of YPF shares. Defendants move to dismiss the action on various grounds, including: lack of subject matter jurisdiction and personal jurisdiction, the act of state doctrine, violation of New York State champerty law, lack of standing, the doctrine of forum non conveniens, and failure to state a claim. On July 20, 2016, the Court held oral argument on Defendants' motions. For the reasons stated below, Defendants' motions (dkt. nos. 23, 32) are granted in part and denied in part.