Burford Capital Share Discussion Threads

[tomtrudgian] 03/9/2024 11:26

Thank you so much galatea99, and perhaps this could be discussed here on Advfn? It has been much talked about, particularly in the global judiciary, ever since a litigation funder’s (LCM) success fee was first approved in Australia some three decades ago.

Prima facile it sounds a good idea. However should not both parties be allowed freely to decide what commercial arrangements they mutually agree upon?

There again, success fees of over 300% are rare, and may not be known until after judgement is given. If the claim fails, or is settled by negotiation, the fees, costs, time, damages and risk will normally be privileged from disclosure.

Rosenblatt lawyers(RBG) was almost brought to its knees by its litigation funding forays. Further litigation funding is still not approved by all courts globally, and will the proposal increase or reduce its use?

My guess, for what it’s worth, is that success fees may possibly be capped in the EU, but this will have little affect on established players like Burford Capital.

[375uv] 27/8/2024 19:34

It's time for Milei to call Seb.

[extrader] 27/8/2024 16:57

Ashmore latest

Argentina
Exports have seen significant growth, with fuel and energy exports rising by 42%, agricultural manufacturing increasing by 29%, and primary products up by 20%. Petroleum exports have been particularly strong, with a 65% increase in 2024 year-to-date compared with the same period in 2023. On the other hand, imports have declined, with fuel imports down by 34%, capital goods by 24%, and intermediate goods by 17%.
GLA

[galatea99] 23/8/2024 00:03

And this one from India:

Lenders to the bankrupt airline Go First have enlisted Burford Capital, a US-based litigation finance firm, to support their arbitration case against engine manufacturer Pratt & Whitney. The creditors committee has approved a first tranche payment of $20 million from Burford. Go First is claiming $1.5 billion in compensation at the Singapore Court of Arbitration, attributing its bankruptcy to Pratt & Whitney’s engine failures. Although litigation finance is common in parts of the world, ..

Read more at:

[hohum1] 22/8/2024 14:19

How much time does JM need to spend re-arranging his personal investments?

[scubadiverr] 22/8/2024 13:06

Will be a 30% deduction for me with iWeb, even with a w8ben. I would definitely be against a special dividend. If you hold this in a SIPP and complete the w8ben you maybe immune to this withholding tax

[tomtrudgian] 22/8/2024 11:55

Almost certainly no special dividend, hTnt99. Burford Capital first have to win the appeal, which many think likely, but then must COLLECT. Collection may be in every conceivable manner, but it will not be in cash or soon.

Why no special dividend?
From 1st Jan 2025 Burford Capital will be a US domestic issuing company. Thereafter their agent’s must deduct US withholding tax (15% in the UK, but variable) from dividends to foreign shareholders. This can be offset only against taxpayer’s unearned income, in jurisdictions including the UK.

In addition there always remains the general point that dividends are expensive for companies who pay agents to calculate and distribute dividends in different currencies and tax rates.

Further, dividends are never allowable against company tax, unlike the alternatives: eg interest on bonds, debentures, loans, accruals etc.

The future?
If “collection221; in whatever form it takes and assuming no cash, is achieved, Burford Capital may float their YPF asset separately as a non trading investment.

[tnt99] 22/8/2024 08:29

Will there be a special dividend if they start collecting the money owed to them from the court win

[375uv] 21/8/2024 14:15

According to Seb, our favorite judge likes Fridays:

"We are waiting for Judge Preska's ruling about two motions to turn over YPF shares owned by the Republic. Throughout the duration of the case, the judge has issued 6 major rulings. Do you notice a pattern with Judge Preska and her rulings?"

1. Friday Sep-9-2016 | Opinion & Order.
2. Friday Aug-30-2019 | Memorandum of Law.
3. Friday Feb-7-2020 | Memorandum of Law.
4. Friday Mar-31-2023 | Opinion & Order.
5. Friday Sep-8-2023 | Findings of Facts & Conclusions of Law
6. Friday Sep-15-2023 | Final Judgment

[extrader] 19/8/2024 20:51

Ashmore latest :

Argentina: The consumer price index (CPI) of inflation fell to 4% month-on-month, an annualised rate of 60% year-on-year, marking the lowest level of the year. This rate is four times lower than the inflation rate over the previous 12 months. Core inflation also slowed to 3.8% month-on-month.

GLA

[375uv] 19/8/2024 16:51

Seb is providing his clients with a time frame based on the fact that all three parties—Argentina, YPF, and the judgment creditors—have proposed multiple dates to the Second Circuit Court of Appeals for the Oral Arguments.

According to Seb, this window spans from mid-September to early January. The Second Circuit will soon decide which date it will select for the OAs.

He is advising his clients that if the OAs are held in mid-September (which is highly unlikely), a ruling could be expected in early 2025. However, he leans toward a late October hearing and anticipates a ruling in late Q2 2025.

Sometime he shares his reports through DM in X.

[chester9] 19/8/2024 16:32

Be careful apologies if I misled. He is talking about PBA From 2020The Province of Buenos Aires (PBA) legally entered default this week amid pleas from its creditors for serious restructuring negotiations.But Argentine sovereignbondholders are still holding out hope that they may come to an agreement with the national government.Sep 5: 2021 PBA Default Debt Case -> Conference to finalize the agreement and pay the judgment..YPF awaits appeal from Burford to bring YPF back into proceedings, Judge P view on Argentina stalling, Supreme Court being willing to hear appeal. Seb has not that I am aware of given a date. Argentina are saying nothing will happen to above exhausted..We are not there yet

[three black crows] 19/8/2024 15:35

YPF Settlement before the end of the year. Interesting that Seb is suggesting this

[chester9] 19/8/2024 13:42

SebToday's Province of Buenos Aires conference with creditors was adjourned on Friday. I expect a settlement before the end of the year. YPF appeal will be fully briefed as of this Friday. Closing arguments on Sep. 6. Then hearing and then ruling.

[chester9] 18/8/2024 20:14

Dates coming again from Seb Sep 5: 2021 PBA Default Debt Case -> Conference to finalize the agreement and pay the judgment.• Sep 6: YPF Case -> Final arguments from all parties in the appeal of the 2023 ruling.• Sep 17: 2023 GDP-Linked Warrants -> Aurelius files a brief in response to Argentina's request to dismiss the new lawsuit.

[lazg] 18/8/2024 13:30

@threeblackcrows:

"We" is Argentinians. Seb likes to portray himself as a person that has Argentina’s best interest in mind.

Luckily for us, for him this means lobbying for a settlement to be reached. So in a way he is an ally, and also: I like the guy. Je seems smart and is persistant. He admirably really sticks with this topic.

[foetus in your brain] 18/8/2024 13:27

A government can cap fuel prices it if it owns half of the biggest fuel producer in the country, caps prices, prohibits exports and packs the business with individuals whose background is as a party loyalist rather than a resource specialist it all looks suspect

[rider75] 18/8/2024 12:57

I disagree, the govermments have the right to cap fuel prices, etc.
But regarding other corporate decisions, he may be right.

When do we expect amy decision from J. Preska? Any weeks friday? Ot similarly to last year, at beginning of september?

[three black crows] 18/8/2024 12:02

Who is we ?

[chester9] 18/8/2024 10:47

Seb concludedIf the Government of CFK, Macri, AF or Javier Milei at any time showed interference in YPF's decisions regarding fuel price setting, company financing or any other corporate decision, we will have problems.