Share Name Share Symbol Market Type Share ISIN Share Description
Burford Capital Limited LSE:BUR London Ordinary Share GG00B4L84979 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -36.00p -4.56% 754.00p 754.00p 754.50p 790.00p 750.00p 790.00p 633,477 15:15:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 314.6 239.3 82.9 9.0 1,649

Burford Capital Share Discussion Threads

Showing 6651 to 6670 of 15000 messages
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DateSubjectAuthorDiscuss
23/5/2019
10:27
Largest sell worth £1.93m at 1625p, not huge on a £3.56bn mkt cap?
lomax99
23/5/2019
10:02
Huge sell at 9.30 @ 1645p
terry barnett
22/5/2019
13:43
BUR goes XD tomorrow.
lomax99
22/5/2019
10:58
Certainly having a think about it
5chipper
22/5/2019
09:20
moving up through 1600....
global nomad
22/5/2019
08:43
Target and historical resistance hit. Took profit. gla
bamboo2
22/5/2019
07:02
biggreenoak - the bond you're referring to will be the 100-year maturity issued in 2017 and hugely oversubscribed. That it was USD-denominated is probably a key factor. I can't find any reference to governing law for this issue, but the Elliott holdout actions were largely based on this question. This is the nearest I can get: Because Argentina had been historically so unstable, it would have been difficult for it to solicit investors to buy bonds in Buenos Aires under Argentine jurisdiction, as few external investors trusted Argentina courts to enforce bonds against their own government. This consideration led Argentina to transfer the issue of bonds to New York, under United States law, on April 20, 1976, as were most subsequent bond issues.[53] The bonds were therefore issued under a special kind of bond contract, a "Fiscal Agency Agreement" that was drafted by Argentina's U.S. attorneys under the law of the state of New York. https://en.wikipedia.org/wiki/Argentine_debt_restructuring Regarding the October elections, the Peronists now seem to be ahead in polls, and the surprising development is that their presidential candidate is Alberto Fernández (no relation) who has been publicly critical of Cristina (the vice-p candidate). A smart move.
jonwig
22/5/2019
06:41
Maybe bgo, but knowing is better than believing. Not wholly unexpected as you suggest, but another layer of uncertainty removed which should be reflected in the “value” of the claim & share price imv. Happy long term holder either way.
xajorkith
22/5/2019
03:32
Xajorkith, I actually do not think that the stock would move much. At least, it should not (but the reality can be different). I think the consenus view was that the U.S. Supreme Court would deny Argentina's request.
biggreenoak
21/5/2019
23:41
Great news, with the Supreme Court decision now all but assured, and would expect an RNS from BUR tomorrow in response. Regardless of when this case eventually concludes, the unrealised value has significantly increased following this decision, and would be reflected in any further partial realisations should they occur in the meantime. Very happy to have added more below 1500.
xajorkith
21/5/2019
23:17
On Petersen. 1. I do not think the negative amicus curiae brief automatically means that the U.S. Supreme Court would deny Argentina's request for hearing even though the chances of that are extremely high. 2. Enforcement. I think that enforcement should be a lot easier now than it was a few years ago when Eliott was chasing Argentina. Back then Argentina was largely cut off from the world's financial system. Now it is back into the system. For example, Argentina issued bonds a few years ago. Does anybody know whether the governing law is the law of the State of New York? I assume so (80% chance) but I have never checked. One thing that Burford can do (if it wins the case) is to arrest interest payments when they hit the system and collect that way. The legal background of that is a lot more complicated than what I wrote but it is a plausible avenue and I think likely to be successful. Also, if / once won, Burford can sell a lot more of its stake at a valuation only slightly below the awarded amount. 3. Applicable Rate It is up to the court. Generally, it is the sovereign debt rate. However, I have seen cases (though by an international arbitration panel and not a U.S. court), where the interest rate was U.S. Treasury (even though the defendant who lost was a developing country with a rate on its debt being a lot higher than U.S. Treasury rate).
biggreenoak
21/5/2019
23:15
This is actually a tremendous card now in Macri's hand. The YPF expropriation law was in 2012, under the last Kirchner government. There is talk of there being all kinds of dirty linen still waiting to be disclosed in respect of that administration, as well of all kinds of side deals involving politicians from Santa Cruz state in Patagonia, the home fief of the Kirchners. Argentina is now very much dependent on the international bond markets. I very much doubt that even Kirchner would be prepared to turn the clock back, default once more and condemn Argentina to decades more of autarchy and economic isolation and ever stagnant living standards. I doubt that the business community or the ordinary people would want to go along with that kind of situation for very long. That's an opinion based on my own business knowledge of Argentina, going back to the really nasty days of the last military junta (and on having now an Argentine son-in-law). Now, whether Macri would be prepared to use that card and open up the Pandora's box of corruption under the Kirchners and make an election issue of it and go hell for leather with it, that's a political matter and like all political matters it is impossible to call. Is the Macri administration clean enough itself to fight that one out? It could end up as a cat and mouse game of enforcement but, imo, Argentina really has too much to lose in that situation. Nobody would trust them ever again, nobody would want to do business with them ever again. I wonder whether there is a different kind of solution there, one that could be swallowed politically and one that would not involve the Argentine people in paying the cost of the corruption and the disastrous expropriation of YPF. Now that Vaca Muerta is really producing the goods (they started exporting LNG this week), I wonder whether a private Argentine company would be prepared to buy the 49% in YPF not already held by the government and whether Burford and other claimants could be paid out of that money. A solution of that kind could save face, get the government off the hook, cost the Treasury nothing, be fairly popular in Argentina, as well as preserving Argentina's hard-won access to international financing. Only my musing, of course, but the news today from the US could be a step on the road to getting minds concentrated in Buenos Aires. All IMHO, DYOR.
galatea99
21/5/2019
20:54
I may be completely misreading this, but I can't see Argentina settling with an election coming up, and possibly not at all. Now that the jurisdictional issues have been resolved they still have to go through the regular court process, which will itself be subject to further appeals so there is still plenty of opportunity to kick this into the long grass, which if you're Macri means it becomes the next person's problem even if he wins re-election. And even if they lose the case and all avenues for appeal are exhausted, they can simply refuse to pay and then it becomes a cat and mouse game of enforcement. Argentina can drag that out for years - they have plenty of experience in defending enforcement attempts around the world, and it has to be said, with a fair degree of success in doing so.
bestace
21/5/2019
20:29
That is a total slam dunk for BUR, so strong that you would have thought Argentina will be forced to settle. One question I would like to know is what interest rate is applied to this claim: as it arises from actions many years ago, that will be material to the outcome.
mad foetus
21/5/2019
20:19
Thanks for posting.
lomax99
21/5/2019
19:48
Well it's certainly good news for Burford. For Argentina... not so much.
bestace
21/5/2019
19:41
In my non legal brain and some googling that is good news? :)
mysteronz
21/5/2019
19:34
The Solicitor-General of the US files its amicus brief at the Supreme Court in the Petersen/YPF case: Https://www.supremecourt.gov/DocketPDF/18/18-575/100487/20190521125430010_18-575%20%2018-581%20YPF%20SA.pdf Conclusion: "The petitions for writs of certiorari should be denied" Back to the district court we go...
bestace
21/5/2019
11:30
It must be a bit embarassing to see Nigel Somerville of Shareprophets mounting a full-strength but cack-handed attack on BUR, which is his bosom pal wiggy's largest shareholding. There is never honour amongst thieves, eh?
1tcm1
21/5/2019
10:25
Thanks Trollwatch - that's really useful and has made my day.
trident5
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