Jurisdictional Puzzles about the Enforcement of Judgments & Arbitral Awards
Two recent cases highlight unsettled questions about jurisdictional limitations on the recognition and enforcement of foreign judgements and arbitral awards. The first, Alterna Aircraft V B Ltd. v. SpiceJet Ltd., addressed whether due process requires the presence of property in the forum state if the court otherwise lacks personal jurisdiction over the debtor. In Alterna,…
Continue ReadingEnforcing U.S. Judgments Against “Foreign” Assets of Foreign Sovereigns: a Rejoinder
On June 30, 2025, in Petersen Energia Inversora, S.A.U. v. Argentine Republic, a federal district court in New York ordered the Republic of Argentina to “(i) transfer its Class D shares of YPF to a global custody account at BNYM in New York within 14 days from the date of this order; and (ii) instruct…
Continue ReadingDOJ Argues Against Turnover of Argentina’s Assets
On November 6, 2024, the U.S. Attorney for the Southern District of New York sent a letter to Judge Loretta A. Preska arguing against turnover of Argentina’s interests in YPF S.A., a state-owned energy company, to satisfy a breach of contract judgment. The $16.1 billion judgment in Petersen Energia Inversora, S.A.U. v. Argentine Republic arose…
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