NEW YORK, Oct 29 (Reuters) - At least two U.S. judges on a panel considering whether Argentina must pay investors $16.1 billion after seizing control of state-owned oil company YPF (YPFDm.BA) , opens new tab in 2012 questioned on Wednesday whether the case belonged in the United States.

The judges were part of a three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan that on Wednesday reviewed Argentina's bid to set aside a trial judge's September 2023 award to two minority shareholders of YPF.

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Argentina has argued the case should have been heard at home, and questioned the judge's interpretations of Argentine law.

Burford Capital (BURF.L) , opens new tab has funded much of the litigation and could receive billions of dollars if the award were upheld. Its shares fell more than 10% after the two judges made their comments.

https://www.reuters.com/business/energy/us-judges-question-whether-argentina-ypf-case-belongs-us-2025-10-29/