Burford Capital Share Discussion Threads

[chester9] 16/4/2024 12:02

Burford larger drops in 7 months26 percent 8 Sept to 28 oct10 percent 27 dec to 22 Jan 14 percent 14 feb to 13 March 12 percent 12 apr to 15 AprilOverall up 11 percent 1 sept to today.To quote Tom Jones it's not unusual, traders love it.

[saltraider] 16/4/2024 11:23

@dekle ... I presume that must be sarcasm. Otherwise, where is "such a big drop". I don't see anything beyond the usual volatility.

[dekle] 16/4/2024 09:18

With such a big drop in the share price I would have thought the exchanges would have called for a statement from the company?

[tnt99] 16/4/2024 08:11

Good buying opp for a compsny worth more than the us economy which is bust

[375uv] 15/4/2024 17:01

Don't underestimate what's going on in Judge Preska's court.

[jockthescot75] 15/4/2024 16:51

Could this be related to YPF itself? i.e. that's the asset?

[extrader] 15/4/2024 16:36

Hi galatea et al

The sordid details/allegations are all contained in the link in # 26051 above.
Google is your friend...

La Nacion is 'serious press' in Argentina, so much of the dirty linen is already in public domain, for those interested.

Perhaps the idea is to move the discussion level from the (by now desensitized) drawing rooms to the streets....?

GLA and ATB

[kaos3] 15/4/2024 16:01

i do not know anything but - latest filing will probably not change the hard facts on present finances awarded

it is probably a PR exercise.... in order to collect more easily ... hopefully and possibly in agreement with the present Argentina government....

filing having many dirty details hinted above which will be openly leaked ... and make payment easier.... in Argentina

dreamt up by my self

[nigelpm] 15/4/2024 16:00

It's an opportunity to buy on weakness I'd say. I do care about market price but as dj notes it only really matters when buying or selling.

[djderry] 15/4/2024 15:49

As usual,nothing to see here.The shareprice interests me only if I wish to buy or sell.(Or when I'm doing my sums)
All the far-fetched theories will no doubt get trotted out.The company is doing great and it's business as usual.
What a tiny sliver of shares get traded at doesn't concern me.
I don't mean to patronise,but I feel sorry for people who get alarmed by this kind of thing and start reading imaginary tea leaves at the end of their tea cup.Its not the way to get wealthy.

[saltraider] 15/4/2024 15:38

Yes r77, BUR is well-loved by traders. I think there was also a large block put up for sale in the States their Friday afternoon. A lot of over-excitable PIs running round playing 'follow my leader' ... and likely losing money ... completes the job.

Steady as she goes! :-)

[riverman77] 15/4/2024 15:28

Can't see why such a big issue - suspect the sell off more likely driven by short term trading. Seen this sort of thing many times before with BUR - a completely random drop followed by a swift recovery.

[375uv] 15/4/2024 15:22

This issue first appeared 15 days ago when Burford filed a motion under seal. Only Argentina, Burford and Judge Preska know the content of this motion.

On Friday, YPF filed a Letter telling Judge Preska that they too needed to understand what's in there. My guess is that they already know.

As a response, Burford's attorneys expressed their preference for the judge to adopt a consistent approach observed in other cases involving Argentina, where similar sealing orders have been granted by herself due to the sensitive financial information being sought.

There is the significance: sensitive financial information that Burford doesn't want the public to know but Argentina and YPF do, but oppose to whatever content Burford has filed.

We'll just have to wait until Preska decides.

[time_traveller] 15/4/2024 15:10

Could someone explain the significance (beyond the usual shenanigans); I'm not quite seeing it.

[375uv] 15/4/2024 13:45

I will closely monitor this development as I find it highly significant that Argentina is advocating for the public disclosure of something it opposes in terms of content.

[kuk1doh] 15/4/2024 10:13

Hi Extrader,
All I can say about Argentina’s action is that the opening of the sealed documents will likely delay and/or reduce the likelihood of collection for Burford. That would be consistent with how Argentina has behaved to date and it’s a reasonable legal strategy if you are ultimately negotiating a settlement discount… the further into the future you push the event the higher the discount you can achieve.

[extrader] 14/4/2024 17:38

Hi Kuk1doh,

I thought of that possibility, but why would ARG WANT the info to be publicized ?

'It's a mystery' (copyright Shakespeare in love...)

GLA

[375uv] 14/4/2024 16:18

If Judge Preska unseals the April 1 filing, we will all be able to see it. And I have the feeling that's a game changer.

Burford filed it under seal and wants to keep it that way. Argentina wants to unseal it but it emphatically opposes to the content of the filing and will file a motion opposing what the content says on May 16 (will file a separate motion to unseal it this week).

The only other alternative I can think of is that Preska unseals it only for YPF to see it.

[extrader] 14/4/2024 14:29

Hi Tom,

Still with the veiled negativity , I see ;-> !


Here you go - some grist for the mill.

hxxps://www.lanacion.com.ar/politica/una-de-las-tramas-de-corrupcion-e-ineptitud-mas-impactantes-de-la-era-kirchnerista-

'Knock yourself out'.

GLA

[kuk1doh] 14/4/2024 14:28

Is it not as simple as Bur, having identified a significant asset and, in a world of many creditors seeking assets for Argentine debt recovery, want that potential prize to remain confidential?

[375uv] 14/4/2024 13:30

Argentina's reaction to Petersen/Eton's objection to unseal their own submission will be revealing.

Keep this in mind: Petersen/Eton stated on Friday their desire for Preska to issue a ruling similar to one that kept the identity of the asset sought by London-based Attestor Master Value Fund confidential. Now, we don't know whether Petersen/Eton's filing relates to an asset, but let's assume it does.

I just reviewed that submission, and Attestor argued that the "sensitivity of the financial information" related to the asset warranted confidentiality.

Therefore, Burford (Petersen/Eton) believes that their motion filed on April 1 contains highly sensitive financial information. Argentina wants to unseal it because they want to show that Burford behaves as "dirty" as Elliott did during the holdouts saga.

Just an opinion.

[tomtrudgian] 14/4/2024 13:24

Very useful as always Extrader. Could you kindly expand with further detail? Is this anything to do with negotiations between the Petersen family and the Kitchener government prior to the expropriation possibly? Both deserved each other some might say. Do please let us have your thoughts.

Now a warning caveat: I met a shareholder recently who was quite certain that, being AIM quoted, his BUR shares benefited from both Business Property Relief from Inheritance tax, and Capital Gains Tax too. Not so.

UK BPR relief ended when BUR was additionally quoted on the US NYSE. If held outside an ISA, the annual UK Capital Gains Tax allowance relief has been reduced from £12,300 (22/3) to £6000 (23/4), and now just £3000 (24/5).

[extrader] 13/4/2024 20:38

As to the Q before Preska, perhaps the doc/info that BUR wants to include (but keep confidential) and ARG wants to exclude (and make public) is something that is useful to BUR (legally) and to ARG current Govt (politically).

What might that be ?

Perhaps it's the dubious circumstances/transaction detail surrounding prev Govt role in the YPF saga : say, from BUR's POV, something that may cast the Defendants in a bad light (morally, etc), but doesn't imperil their legal position, but which for Milei's Govt- if publicised- could neutralize/discredit the prev Govt / Kirchner et al opposition to any eventual attempt at settlement.

In other words, ARG/Milei may be trying to gain political points domestically (by disclosure of doc contents now), whilst still opposing the docs' admission in evidence (esp.if they recognise that the contents won't help ARG legally)*.

* a piece of 'cakeism' worthy of BoJo, if so!


Whatever, the US stock market seems relatively sanguine : GGAL closing only fractionally down at $29.60 and YPF @ $ 21.17, both favourable compared to the wider market, FWLIW.

GLA