BUENOS AIRES, Argentina (AP) — A U.S. Appeals court temporarily paused efforts by investors to identify Argentina’s assets in the United States in order to collect on a $16 billion judgment in a case about the 2012 nationalization of the South American country’s largest energy company.
Investors will not be able to move forward with the effort until appeals are resolved in the long-running case, in which U.S. District Judge Loretta Preska ordered Argentina to compensate investors for the seizure of a majority share in YPF Energy.
In a ruling obtained by The Associated Press, the U.S. Court of Appeals for the Second Circuit in New York halted attempts by former shareholders Petersen Energía and Petersen Energía Inversora — backed by litigation funder Burford Capital — to obtain evidence on the location of Argentine assets in the United States, including reserves such as gold bars held by the central bank.
Argentine President Javier Milei described the decision on Wednesday as a “historic” and “unprecedented” move in Argentina’s favor in the YPF case.
“This decision represents a historic milestone in the defense of the Argentine Republic in litigation that, for more than 12 years, has imposed enormous economic, legal and reputational costs on the country,” the president said in a statement. The Argentine government requested the suspension of the discovery process on March 6, according to the government's statement.
But an expert cautioned that Argentina's win on a procedural question does not mean that the court will ultimately overturn the $16.1 billion judgment — a figure that has since risen to more than $18 billion with interest.
Sebastián Maril, a Latam Advisors analyst and litigation specialist, told The Associated Press that Wednesday’s decision only pauses secondary proceedings like the effort to trace assets until a ruling is issued on Argentina’s appeal. Oral arguments were held in October, and a decision has been pending since then.
In June, Preska ordered Argentina to transfer its 51% controlling stake in YPF as partial compensation to the plaintiffs. Two months later, the appeals court put that order on hold.
Milei, who has struggled to rebuild depleted foreign reserves and has pledged to privatize state-owned companies, has blamed the case on his political opponents. In 2012, former President Cristina Fernández de Kirchner, who served from 2007 to 2015, oversaw the government’s takeover of Argentina’s largest energy company, a move that added to the country’s reputation for failing to meet international financial obligations.
Plaintiffs were able to sue YPF in the U.S. because the company is listed on the New York Stock Exchange.
Since the nationalization, YPF has accelerated its drive to develop the country’s vast shale gas reserves in the Vaca Muerta field in Argentine Patagonia. Crude production at Vaca Muerta has steadily climbed, reaching nearly 600,000 barrels per day in January, about 68% of national output. In 2025, YPF reported a profit of $5 million, its highest level in the past 10 years.
FILE - An aerial view shows the YPF-La Plata refinery in Berisso, Argentina, Oct. 30, 2023. (AP Photo/Rodrigo Abd, File)
FILE - A worker fuels up a van at a YPF gas station in Buenos Aires, Argentina, July 14, 2025. (AP Photo/Rodrigo Abd, File)
Labor rights activist Dolores Huerta revealed she was among women and girls who say they were sexually abused by César Chavez, the widely admired Latino icon who brought to light the struggles of farmhands while leading the United Farm Workers union.
The stunning allegations against Chavez, who died more than three decades ago, drew immediate calls to alter memorials honoring the man who in the 1960s helped secure better wages and working conditions for farmworkers and has been long revered by many Democratic leaders in the U.S.
In a statement released Wednesday, Huerta said she stayed silent for 60 years out of concern that her words would hurt the farmworker movement.
Huerta described two sexual encounters with Chavez, one where she was “manipulated and pressured” and another where she was “forced against my will.”
“I carried this secret for as long as I did because building the movement and securing farmworker rights was life’s work. The formation of a union was the only vehicle to accomplish and secure those rights and I wasn’t going to let César or anyone else get in the way,” she said.
Huerta, who is a labor rights legend in her own right, joined Chavez in 1962 to co-found the National Farm Workers Association, which became the United Farm Workers of America.
For many, they were akin to Martin Luther King. Jr. and Rosa Parks because of their work advocating for racial equality and civil rights.
The New York Times first reported Wednesday that it found Chavez groomed and sexually abused young girls who worked in the movement. Huerta, too, revealed to the newspaper that she was a victim of the abuse in her 30s.
Huerta later said both sexual encounters with Chavez led to pregnancies, which she kept secret, and that she arranged for the children to be raised by other families. “No one knew the full truth about how they were conceived until just a few weeks ago,” she said in her statement.
Huerta said she did not know that Chavez hurt other women and condemned his actions but emphasized that the farmworker movement is bigger than one person.
“César’s actions do not diminish the permanent improvements achieved for farmworkers with the help of thousands of people,” Huerta said in her statement. “We must continue to engage and support our community, which needs advocacy and activism now more than ever.”
Chavez's family said in a statement that they are devastated by the news and “wish peace and healing to the survivors and commend their courage to come forward.”
“We carry our own memories of the person we knew. Someone whose life included work and contributions that matter deeply to many people,” the statement said.
Streets, schools and parks across the Southwest bear Chavez’s name. California became the first state to commemorate his birthday, and in 2014, then-President Barack Obama proclaimed March 31 as national César Chavez Day.
President Joe Biden had a bronze bust of Chavez installed in the Oval Office when he moved into the White House. Neither Biden nor Obama have yet commented on the allegations.
But otherwise, reactions Wednesday were swift from many in both parties.
Days before the allegations were revealed publicly, several César Chavez celebrations in San Francisco, Texas and in his home state of Arizona were canceled at the request of the César Chavez Foundation. Organizers of canceled events did not immediately respond to requests for comment from The Associated Press.
Republican Texas Gov. Greg Abbott said the state will not observe the César Chavez Day holiday and that he will urge the state Legislature to remove it altogether.
California Gov. Gavin Newsom said he was still processing the news. The Democratic governor wouldn’t commit to making any changes to the state holiday, saying the farmworker movement was much more than Chavez. “It’s about labor. It’s about social justice, economic justice, racial justice.”
A spokesperson for Arizona Gov. Katie Hobbs said she has declined to recognize March 31 as César Chavez Day as she has in the two prior years. César Chavez Day isn’t a state holiday in Arizona.
Next week, the Phoenix City Council is set to vote on whether to rename the March 31 holiday, as well as buildings and city streets that bear Chavez’s name. The mayor and two city council members want the holiday to be renamed Farmworkers Day.
Albuquerque Mayor Tim Keller ordered a review of how Chavez is recognized across the city. And U.S. Sen. Ben Ray Luján, a New Mexico Democrat, said: “His name should be removed from landmarks, institutions and honors."
Born in Yuma, Arizona, Chavez grew up in a Mexican American family that traveled around California picking lettuce, grapes, cotton and other seasonal crops. He died in California in 1993 at age 66.
Chavez is known nationally for his early organizing in the fields, a hunger strike, a grape boycott and eventual victory in getting growers to negotiate with farmworkers for better wages and working conditions.
The César Chavez Foundation pledged unequivocal support for the labor leader’s victims on Wednesday and said that -- with the Chavez family’s support -- the organization will figure out its identity going forward.
“We are committed to restorative justice and healing for those who have been harmed, and to ensure our organization reflects the dignity and safety every person deserves,” the foundation said in a statement.
Latino leaders and community groups are now weighing the impact of Chavez's actions on the labor rights movement while emphasizing that the farmworker movement was led by thousands who came together to fight for justice.
The League of United Latin American Citizens, a civil rights organization, released a statement condemning any form of sexual violence, stating that “no individual, regardless of statue or legacy is above accountability.” Similarly, leaders from the nonprofit Voto Latino said in a statement that no matter his legacy or historical framing Chavez’s actions are inexcusable. But, they said, the news does not erase the work done by others.
“The women who organized, marched, and sacrificed alongside farmworkers carried this movement on their backs,” Voto Latino said.
U.S. Congresswoman Teresa Leger Fernández, chair of the Democratic Women’s Caucus, issued a statement saying she was heartbroken and deeply disturbed by the stories of women who say they were abused.
The United Farm Workers union quickly distanced itself from annual celebrations of its founder, calling the allegations troubling.
In a statement Tuesday, the union said allegations of “abuse of young women or minors” were concerning enough to urge people around the country to participate in immigration justice events or acts of service instead of the typical events in March to commemorate Chavez’s legacy.
Associated Press writers Susan Montoya Bryan in Albuquerque, New Mexico; Hallie Golden in Seattle; Trân Nguyễn in Sacramento, Calif.; Dorany Pineda in Los Angeles; Felicia Fonseca and Jacques Billeaud in Arizona contributed to this report.
FILE - United Farm Workers co-founder Dolores Huerta looks at a mural of the late Cesar Chavez during a dedication of the Cesar Chavez Monument on the San Jose State University campus in San Jose, Calif., Thursday, Sept. 4, 2008. (AP Photo/Paul Sakuma, File)
United Farm Workers leader Dolores Huerta sits in the UFW headquarters in San Francisco on March 8, 1989, as she awaits results from a San Francisco Police Commission hearing about the alleged beating of Huerta at a rally in September the previous year. (Mike Maloney/San Francisco Chronicle via AP)
FILE - Dolores Huerta, the Mexican-American social activist who formed a farm workers union with Cesar Chavez, stands for the Pledge of Allegiance in Spanish while visiting the New Mexico Statehouse in Santa Fe. N.M., on Feb. 27, 2019. (AP Photo/Russell Contreras, File)
FILE - United Farm Workers leader Dolores Huerta, center, leads a rally in San Francisco's Mission District on Nov. 19, 1988, along with Howard Wallace, president of the San Francisco chapter of the UFW, left, and Maria Elena Chavez, 16, the daughter of Cesar Chavez, right, as part of a national boycott of what the UFW claims is the dangerous use of pesticides on table grapes. (AP Photo/Court Mast, File)
FILE - United Farm Workers President Cesar Chavez talks to striking Salinas Valley farmworkers during a large rally in Salinas, Calif., on March 7, 1979. (AP Photo/Paul Sakuma, File)
Civil rights leader Cesar Chavez leads a picket against Dole in front of the offices of Castle & Cooke, its parent company, at 50 California St. in San Francisco on Feb. 3, 1982. The United Farm Workers are sponsoring a consumer boycott on Dole products where 300 union members from Ventura, Calif., have been on strike since November. (Steve Ringman/San Francisco Chronicle via AP)
Civil rights leader Cesar Chavez leads a picket against Dole in front of the offices of Castle & Cooke, its parent company, at 50 California St. in San Francisco on Feb. 3, 1982. The United Farm Workers are sponsoring a consumer boycott on Dole products where 300 union members from Ventura, Calif., have been on strike since November. (Steve Ringman/San Francisco Chronicle via AP)
A statue of farmworker union leader César Chávez stands in a plaza named after him in Sacramento, Calif., Wednesday, March 18, 2026. (AP Photo/Tran Nguyen)
FILE - Dolores Huerta, the labor leader, civil rights activist and co-founder of the National Farm Workers Association, is seen at the California Democratic Party's 2025 State Convention at the Anaheim Convention Center in Anaheim, Calif., May 31, 2025. (AP Photo/Damian Dovarganes, File)
A plaque dedicated to the 30th anniversary of the passing of Cesar Chavez, honoring Chavez and Sister Dolores Huerta, is part of the Haymarket Memorial, seen Wednesday, March 18, 2026, in Chicago. (AP Photo/Erin Hooley)
Books about Cesar Chavez are seen on a library shelf at San Lorenzo High School Wednesday, March 18, 2026, in San Lorenzo, Calif. (AP Photo/Godofredo A. Vásquez)
A plaque dedicated to the 30th anniversary of the passing of Cesar Chavez, honoring Chavez and Sister Dolores Huerta, is part of the Haymarket Memorial, seen Wednesday, March 18, 2026, in Chicago. (AP Photo/Erin Hooley)
Governor Gavin Newsom speaks about the sexual assault allegations against Cesar Chavez during a press conference at San Lorenzo High School, Wednesday, March 18, 2026, in San Lorenzo, Calif. (AP Photo/Godofredo A. Vásquez)
FILE - Cesar Chavez, a farm worker, labor organizer and leader of the California grape strike, is seen in a California works office in 1965. (AP Photo, George Brich, File)
