Burford Capital Share Discussion Threads

[extrader] 05/7/2024 17:52

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 10:09

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 08:11

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

[extrader] 03/7/2024 04:11

More coverage

[extrader] 02/7/2024 14:10

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 12:38

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 12:01

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

[djderry] 02/7/2024 11:47

Blackrock Fund Advisors taking over 6%.

[bjfanc] 02/7/2024 11:23

Shows how much tracks the Russell indices

[chester9] 02/7/2024 11:03

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 18:08

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 16:45

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 13:54

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

[riverman77] 30/6/2024 22:44

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

[hpcg] 30/6/2024 22:24

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 19:10

Takeover of what ?

[tnt99] 30/6/2024 13:56

Would blame a takeover here with the argi money involved

[bjfanc] 30/6/2024 09:49

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

[three black crows] 29/6/2024 11:31

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 09:37

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 08:47

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.

[extrader] 27/6/2024 15:36

Ashmore's latest :

.."Argentina:
Under International Monetary Fund (IMF) guidance, Argentina is pursuing measures to stabilise its economy and bolster foreign exchange (FX) reserves. This includes raising real interest rates to positive levels and eliminating currency controls.
As part of these reforms, the government plans to phase out a mechanism allowing exporters to sell 20% of their dollars at higher exchange rates by the end of the month.
However, inflation remains a significant challenge, projected to stay high at 69% over the next 12 months. This situation may require interest rate hikes from the current 40% levels.
President Milei's fiscal austerity measures have shown promising results, with monthly inflation reduced for five consecutive months to 4.2% in May, down from a peak above 25%.
President Milei is seeking additional IMF funding to facilitate the removal of currency controls and capital restrictions. This move aims to reintegrate Argentina into international debt markets following its recent debt restructuring in 2020.

[extrader] 27/6/2024 14:27

Sebastian Maril
@SebastianMaril
15 hours ago.

🔴Judge Preska has permitted Argentina and the judgment creditors to file additional briefs regarding the creditors’ attempt to take possession of YPF shares owned by the Republic. Argentina will submit its brief on June 28, while the creditors will file theirs on July 8. In my opinion, this move by the judge suggests that there may not be any oral arguments and that she will rule on the turnover motion based on the written submissions.

GLA

[time_traveller] 26/6/2024 15:40

Generally seems to make better gains in the approach to results, then drop or spend a couple of days thinking about slightly better ones. This is most odd- short interest seems steady and not huge. At least Labour won't have any capital gains to liberate me of! (my biggest investments were north of £16 and only piling in during covid saves me complete embarrassment).

[riverman77] 25/6/2024 10:27

Might be worth buying back just before next update if it continues to drift lower. I've been out for a while as expected to it to remain weak for time being, and suspect the YPF thing will drag on for years so can't get excited there.