Loretta Preska

Loretta Preska is a US judge who presided over the initial ruling in the case concerning Argentina's 2012 nationalization of the oil company YPF. She initially ruled that Argentina was liable to pay over $16 billion in compensation to plaintiffs who claimed they were harmed by the nationalization. Preska's ruling has recently become newsworthy because the United States Court of Appeals for the Second Circuit in New York overturned her decision. This reversal is a significant victory for Argentina, relieving the country of a substantial financial burden. The case remains relevant due to its implications for sovereign debt, nationalization policies, and international investment disputes. The overturning of Preska's ruling is considered a major legal success for Argentina by its current president, Javier Milei.