Burford Capital Share Discussion Threads

[djderry] 14/9/2023 20:18

Add $181 million in new deployments in Q2 23 and portfolio ( group-wide) up 14% to $7 billion,and perhaps we might have a more balanced view of the business.
On a separate matter,it's my reading of the Petersen court docket,that Plaintiffs accept that claim against YPF has been dismissed.I may be misreading that,not a lawyer.

[planit2] 14/9/2023 20:12

Dead Duck

Not got time to check through your workings properly here but looks like you have reversed out the capital raise and kept in the capital deployed.

It's not surprising you can make it negative if you pick and choose.


Burford is a growth company with a very healthy return on capital and a very big pool in which to fish. It's not surprising they are deploying any capital they can sensibly get their hands on without stretching too far.

[papy02] 14/9/2023 20:11

I tentatively agree w TBC. ;-)

Excel reckons there are 4151 days since 3 May 2012, through 14 Sep 2023, not the 4149 published.
E&OE

No problem. That’ll be $3.7m please.

Is this an official court document, or just Seb’s calculations? If the former I will bring to Burford’s attention.

[dead duck resources] 14/9/2023 19:08

The CEO of Burford Capital commented: "We have produced the strongest set of six month financial results in Burford's history ...Our core portfolio generated a lot of cash"

Net increase in cash H1 2023: $255.8M
Dividend paid to shareholders: $13.7M
Increase without the dividend $269.5M

After including the following items
Cash proceeds from securities: $32M
Cash proceeds from new bonds: $386M

w/o new bonds/other proceeds -$148.5M

Cash from deferring creditors: $43.9M
and increase from exchange gain $1.9M

w/o working capital changes: -$194.3M adjusted net cash outflow in best six months in Burford's history

[stentorian] 14/9/2023 18:33

Three Black Crows - LOL.

[scubadiverr] 14/9/2023 18:14

https://twitter.com/SebastianMaril/status/1702355289603813851

[donald pond] 14/9/2023 17:38

Making our share a little over $6.1bn

[three black crows] 14/9/2023 17:21

Looks a bit low to me

[375uv] 14/9/2023 17:18

Proposed Judgment is out:

$16,097,940,398

[madharry3] 14/9/2023 13:58

at the conference call i questioned how they were going to revalue their argentine claim on the books as a result of the judgement . they refused to address the question except to say that they were not going to talk about it. None the less if they have an agreement with the SEC as to how they are accounting for assets by year end reporting they will have to address this issue especially because of the size of this asset relative to the market cap of the company. I continue to be impressed by their reporting of a 29% internal rate of return on resolved cases. If they continue to achieve those numbers I expect shareholders will do well over time. Although I would like to see a growing dividend as a percentage of claims getting resolved, as long a they can grow their book value by at least $2 a year I will be satisfied. I dont know how others feel but my take is that owning the shares below $16 is a no brainer.

[stentorian] 14/9/2023 12:53

Berenberg, Jeffries, Numis and Peel Hunt.

[donald pond] 14/9/2023 11:35

It is noticeable how few analysts cover BUR these days. Used to be a flood of broker notes after each set of results. Anyone got anything to share?

[375uv] 14/9/2023 11:21

Mr. Kicillof has had an admirable record on these things. Whatever he says, bet on the opposite.

[stentorian] 14/9/2023 11:17

Current Buenos Aires governor Axel Kicillof (a member of Argentina’s ruling Peronist party who oversaw the YPF expropriation) and his comments at the time about it being “stupid” to comply with YPF’s bylaws were quoted in Preska's judgment — struck a defiant tone in the days after the decision.

The verdict, he said “...surely end up in the [US] Supreme Court, because this violation of Argentine sovereignty is equally or even more serious than that last vulture attack”, referring to Elliott’s campaign.

The United States Court of Appeals for the Second Circuit Court Order dated 13 September 2023 has just shot Kicillof's fox, as it will not end up in the Supreme Court as a violation of Argentine sovereignty.

Argentina have been denied leave on this issue. Kicillof emulating Monty Python's Black Knight (with arms and legs chopped off) will no doubt say "'Tis but a scratch".

[stentorian] 14/9/2023 11:03

375UV,

Thank you for posting Sebastian Maril's ;-) updated post 10:26. 14 Sep 2023 updating his earlier post. This includes the United States Court of Appeals for the Second Circuit Court Order dated 13 September 2023.

[chester9] 14/9/2023 10:38

Berenberg raises Burford Capital price target to 1,600 (1,350) pence - 'buy'

[djderry] 14/9/2023 10:33

According to the FT,Burford is a 'litigation funding powerhouse'.
I wonder when did that happen?

[375uv] 14/9/2023 10:27

Seb's opinion on the Court of Appeals filing.

[stentorian] 14/9/2023 10:01

Sebastian Maril, X translation from 23:22 13 Sept:

"Don't ask me. I do not understand what the Court of Appeals has just published in the YPF case. I suspect it is merely administrative."


Unlike his coverage previously there is no court record posted.

[dagoberia] 14/9/2023 09:08

But this article is dated June 2019?

[scubadiverr] 14/9/2023 08:46

Argentina leaving no turn unstoned... made me smile!

[donald pond] 14/9/2023 08:30

Denied on grounds already ruled on in July 2018, so I assume it's some sort of sovereignty or forum claim

[scubadiverr] 14/9/2023 08:29

Any ideas why? Don't they need to wait a month before they can appeal?