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NEW YORK, July 15 (Reuters) - A U.S. appeals court on
Tuesday put on temporary hold a judge's order that Argentina
turn over its 51% stake in oil and gas company YPF to
partially satisfy a $16.1 billion judgment.
The 2nd U.S. Circuit Court of Appeals in Manhattan gave
Petersen Energia Inversora and Eton Park Capital Management,
which won the judgment, until July 17 to oppose Argentina's bid
for a longer stay while the country appeals the turnover.
Argentina has until July 22 to reply, and the matter will be
reviewed by "the next available" three-judge panel, the appeals
court said.
The dispute stemmed from Argentina's 2012 seizure of the YPF
stake from Spain's Repsol without making a tender offer
to Petersen and Eton Park, which had been minority shareholders.
Those shareholders are represented by litigation funder
Burford Capital, which has said it expected to receive
35% and 73% of Petersen's and Eton Park's respective damages.
Argentina has warned its economy could be destabilized if it
gave up its controlling stake in YPF, the country's largest
energy company.
The country had faced a July 14 deadline for the turnover, but
U.S. District Judge Loretta Preska in Manhattan agreed to delay
enforcement so Argentina could seek relief from the appeals
court.