Investors seeking to collect a $16.1 billion court judgment from Argentina over its 2012 takeover of oil company YPF SA can start going after its assets, as a US judge ruled against the nation’s bid to push back those collection efforts.

The ruling, in favor of litigation funder Burford Capital, is a blow to Argentina as it appeals US District Judge Loretta Preska’s September judgment — the biggest ever ordered by the federal court in Manhattan. The South American nation, beset by economic distress including surging inflation, says the judgment equals almost one-fifth of its 2023 budget and that paying it would cause severe hardship.

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