YPF Expropriation: The Argentine government has asked the U.S. court to suspend the ruling that would force the company to hand over YPF shares.

TheArgentine government contacted New York federal judge Loretta Preska to request a suspension of the ruling signed Monday in the trial for the 2012 expropriation of YPF. Through a letter, the Argentine government seeks to prevent the transfer of 51% of the oil company's shares to the vulture funds Burford Capital and Eton Park.

The document was sent to the Southern District Court of Manhattan , presided over by Judge Preska, and warns of the " irreparable harm " the ruling could cause in Argentina if it is enforced without review by the higher court. The Casa Rosada (Presidential Palace) also announced that they would formally file an appeal in the coming days and asserted that they will not negotiate with the vulture funds until there is a definitive resolution to the legal dispute.

The lawsuit, for more than $16 billion, brought by Burford Capital and Eton Park, was initiated in 2012 following the nationalization of the oil company. According to the letter, the Argentine government believes the judge "exceeded her jurisdiction by ordering the surrender of the Argentine assets."

" It is the country's main energy company, employing more than 23,000 people, and its control is guaranteed by law ," argued the attorneys from the Treasury Attorney's Office , who represent the country in the case. The lawyers cited Law 26,741, which establishes that the Argentine State must retain a majority stake in the company and that any share transfer must be previously authorized by Congress.

"This is not a commercial lawsuit between two companies. It's a case involving a sovereign state and its internal legal system ," the lawyers emphasized. The decision rested with the judge. However, if the judge denies the request, the government would ask the Second Circuit Court for an emergency stay of execution. The government would also seek to discuss the calculation of the payment.