Burford Capital Share Discussion Threads

[galatea99] 11/7/2024 19:12

This article from 'La Vanguardia' in Barcelona might be of interest. It concerns a very old cases, 26 in total, in which Spain was ordered to pay a total of €1.5bn to parties who suffered loss when grants due on investments in renewable energy projects were, seemingly withdrawn.



What is interesting in the article is that, because Spain has refused to pay, various kinds of embargos of Spanish assets seem to have been successfully obtained.

The first three paras, passed through Google Translate, are these:

"The Belgian justice has authorized the seizure of 32 million to the Kingdom of Spain for non-payments to renewables through the income that the country obtains as a result of the management of its air traffic control.

According to the Blasket Renewable Investments fund, these payments, transferred monthly by Eurocontrol to the public company En aire, will now pass into the hands of one of the companies affected by the non-payment of 26 awards that condemn Spain to compensate 1,515 million euros to companies that suffered the retroactive withdrawal of renewable premiums.

This seizure is in addition to that of the British courts that have recognized the existence of these debts and have authorized the precautionary seizure of the headquarters of the Cervantes Institute in London, the British economic promotion office of the Generalitat of Catalonia, the building of the International School Vicente Cañadas, four bank accounts or the right to collect compensation for the Prestige disaster, valued at more than 900 million euros."

Although it seems not to be stated explicitly that Burford is running this one, their name is mentioned about half-a-dozen paras from the bottom:

"On the other hand, they explained that the Blasket Renewable Investment fund, very active in the media, has acquired the rights to several litigations, such as those of RREEF and Infrared; It has also been published that Antin has sold his arbitration to Centerbridge, which in turn has syndicated the rights to the lawsuit among more funds specialized in this type of litigation, such as Burford Capital."

I have not reproduced the whole article since I understand Spanish but put it through Google Translate should you wish. The article shows that nothing is off bounds in the recovery of judgements.

[extrader] 08/7/2024 17:07

Milei's next move...

hxxps://www.batimes.com.ar/news/argentina/milei-lines-up-midnight-pacto-de-mayo-signing.phtml

ARGENTINA | 06-07-2024 05:38
Milei lines up midnight ‘Pacto de Mayo’ signing

Javier Milei’s next key moment, the signing of his ‘Pacto de 25 de Mayo,’ will take place in Tucumán at the strike of midnight on Independence Day. Guest list still up in the air, with Mauricio Macri expected to be the only former president in attendance.

.."10 points from the ‘Pacto de Mayo’
Milei’s accord consists of the following 10 points, with the educational item a recent incorporation:

-The inviolability of private property.

-Fiscal balance is non-negotiable.

-Reduction of public spending to its historic levels of around 25 percent of Gross Domestic Product.

-A useful and modern primary and secondary education with full literacy and without school dropouts.

-A tax reform which reduces the tax burden, simplifies the life of Argentines and promotes commerce.

-A-renewed discussion of federal revenue-sharing to end for good the current extortionate model which the provinces suffer.

-The commitment of the Argentine provinces to advance in the exploitation of the country’s natural resources

-A modern labour reform which promotes formal employment.

-A pension reform which makes the system sustainable and respects those who have contributed.

-Opening up to international trade so that Argentina can again be a protagonist of the global market.

“These 10 ideas, which are the bases for the progress of any nation, could set the conditions for Argentine growth for the next 100 years so that Argentina is a lighthouse for the West once more,” said President Milei...."

Not a bad wishlist.

In fact, some of these wouldn't go amiss in the UK ;-<..

GLA

[extrader] 05/7/2024 16:52

Seb's latest

🔴On Monday, YPF judgment creditors will file their final brief in an effort to persuade Judge Preska to compel Argentina to turn over the YPF shares expropriated in 2012. Starting July 9, there are three possible outcomes: (1) a ruling is issued, (2) Judge Preska calls for a hearing, or (3) Judge Preska recommends that all parties begin mediation (though this is unlikely).

[kuk1doh] 03/7/2024 09:09

Is it the following: 2021. Three African materials arbitrations. Total balance sheet deployments just short of $30M for all three when last reported. Not sure which is Congo/Cameroon.

If Burford doesn’t have an equity share in the outcome, these may not be such big home runs despite the headline numbers as not a lot of capital was out to work. Anyone any insight?

Good to see the pop in the share price. A few bits of good news in quick succession will help

[tnt99] 03/7/2024 07:11

Looks like burford will be owned by the USA crazy cheap share price hereGiven the massive case load

[extrader] 03/7/2024 03:11

More coverage

[extrader] 02/7/2024 13:10

It looks as though BUR MAY receive something from just-announced settlement of the Sundance Resources litigation.

hxxps://www.sundanceresources.com.au/irm/content/company-updates.aspx?RID=468

Following a mediated discussion that Congo had recently initiated with Sundance, we are pleased to announce the execution of a binding but confidential and conditional settlement agreement (“Conditional Settlement”) between Sundance, Congo Iron SA and Congo (“The Parties”) which is meant to settle the ongoing and previously announced dispute between The Parties before the International Court of Arbitration of the ICC (“ICC”).

If the cash funds are disbursed as agreed in the Conditional Settlement, then the ICC arbitration will end; conversely, if the funds are not received in due course and for the full amount, then the arbitration will continue undisturbed with the hearing now expected to be held in Paris midNovember this year.

If successful, the Conditional Settlement is intended to occur by no later than the end September2024. Sundance will further update shareholders as more certainty is achieved.

In line with confidentiality clauses attached to the Conditional Settlement, Sundance is unable to disclose at this stage the quantum of the agreed cash proceeds. However, consistent with Sundance’s communications with all stakeholders, any cash proceeds received by the Company as a result of its proceedings against Congo will be applied to meet the obligations to Sundance’s litigation funder and secured noteholders as well as returning value for the Company’s shareholders.

The headline claim was for USD 8.8 Bn, Congo Brazzaville has no means to pay more than a fraction of
that amount.

hxxps://disputescentre.com.au/sundance-resources-arbitration/

NAI, DYOR etc etc

GLA

[chester9] 02/7/2024 11:38

I am only reading they value Burford at 10.00 as a good entry point for a profitable return and that is not based on dividend return but invested for share price growth. Agreed someone has to sell for them to buy.

[riverman77] 02/7/2024 11:01

Blackrock are mainly passive investors so wouldn't read too much into this.

[djderry] 02/7/2024 10:47

Blackrock Fund Advisors taking over 6%.

[bjfanc] 02/7/2024 10:23

Shows how much tracks the Russell indices

[chester9] 02/7/2024 10:03

Blackrock taken a stake at 6.5%. share price lowered to let them in perhaps. They will have the longer game in mind.

[extrader] 01/7/2024 17:08

And Ashmore's latest :

.."Argentina: Argentina’s Congress approved President Javier Milei’s signature pro-business reforms, marking an inflection point for the outsider to govern with a hostile political class he continues to rail against.

The Chamber of Deputies passed a sweeping bill, known in Spanish as the Ley de Bases, early Friday in a final 147 to 107 vote.

The biggest victory came minutes later, however, when lawmakers also approved the return of income taxes in the accompanying fiscal package by a narrower 136-116 margin, reversing the Senate’s bid to undo the measure.

'Steady as she goes'...
GLA

[extrader] 01/7/2024 15:45

Just in from Seb

🔴In the coming days/weeks, the Second Circuit Court of Appeals will publish its ruling regarding an attachment authorized by Judge Preska in 2022. Attestor Master Value and five other funds are authorized to take possession of U.S. Treasury bonds that Argentina used as collateral for the Brady Bonds that matured in 2023. The beneficiaries of the attachment are holdouts who have not yet collected the judgment from Judge Thomas Griesa.

GLA

[time_traveller] 01/7/2024 12:54

It couldn't happen directly, but an'understanding' with a SWF could be cobbled together. Still seems improbable.

[riverman77] 30/6/2024 21:44

Burford don't own all the case though, so wouldn't solve their problem.

[hpcg] 30/6/2024 21:24

It would be cheaper for Argentina to buy Burford than what it is on the hook for. Hasn't happened yet, so won't.

[three black crows] 30/6/2024 18:10

Takeover of what ?

[tnt99] 30/6/2024 12:56

Would blame a takeover here with the argi money involved

[bjfanc] 30/6/2024 08:49

If that volume number is correct, given the index rebalancing. Hopefully that's a large overhang cleared.

[three black crows] 29/6/2024 10:31

Seems odd that the share price was in a narrow range, That level of volume is not something I have seen with this company since I started investing in this 4 years ago

[donald pond] 29/6/2024 08:37

Yesterday was one of the biggest trading days of the year in the US as people trade before the index rebalancing.

[djderry] 29/6/2024 07:47

Just looking at the reported Nasdaq trading volumes.If they are correct,and I stress if,then it would have to have been an arranged block trade,otherwise it would have dramatically impacted the share price.
If it's genuine,expect an RNS on Monday.