Delaware Court in the United States This Wednesday it ruled in favor of YPF in a lawsuit against subsidiary Maxus Energy Corporation, as a result of a pollution complaint The Passaic River, in New Jersey, has been around for more than 40 years.
As announced by the company, the judge decided that in the event that there were not enough items to be resolved at the summary stage, The case should go to trialat the request of the YPF, which says it is not responsible for the contamination episode.
“Although the company insists that it was not and cannot be considered an alter ego to Maxus, this judge’s decision represents an important step in defending the company’s interests in this case,” the company told the agency. blame. They stressed that “the People’s Protection Units will continue to defend its interests in this trial, for which it considers that it does not bear any responsibility.”
According to the speculation of some consultants, in this way, both YPF and Repsol They avoid paying $712 million and avoid liability for $14,000 million in environmental damage.
Environmental damage lawsuit
When YPF purchased Maxus in 1995 with the intention of expanding into the United States, the subsidiary’s assets included the lawsuit of Environmental damage from the 1960s and 1970s As a result of its activities on the Passaic River and its surroundings.
Reason, driven by those who consider themselves pollution victimswhich has been accelerated in recent years and paid for $14,000 million in compensation That the Argentine company pays.
In June 2016, YPF launched in the United States Maxus Energy Corporation’s subsidiary Maxus Energy Corporation bankruptcy or preemptive dispute processwhich provided for the payment of US$193 million, at the time, with the aim of settling the final claims of the operations carried out by the company in Delaware.
Maxus’ assets account for less than 1% of the Argentine oil company’s production and reserves. Therefore, at the time, Maxus’ environmental responsibility was deemed to have “no adverse impact on YPF’s consolidated operating results or financial condition.”