Burford Capital Share Discussion Threads

[loglorry1] 09/2/2022 09:52

@dp if BUR win they can petition for a winding up of YPF based on non-payment. Their claim would be junior to existing debt in YFP so in effect they would probably get nothing. Further the Argintine courts would probably just ingore the winding up petition. The only thing they might manage with YPF is if there were foreign assets like a tanker or soemthing but as far as I know there isn't any.

It would be similar to the situation with Cineplex and Cineworld.

[loglorry1] 09/2/2022 09:50

hxxps://www.emethvaluecapital.com/_files/ugd/b2ee4c_d8d3433827ac482ea4648323a2e6ecdf.pdf

[donald pond] 09/2/2022 09:44

Interesting log, though whether that is Burfords problem is a different question. If they and Argentina owe Burford say $5bn, the argument that they can't pay because rather than making $7bn a year in profits selling oil at international rates they sell it to Argentina at cost might not convince the US court.

[kannerwas] 09/2/2022 09:42

Re 22099
DP, I think you mean YPF is also a defendant.

[loglorry1] 09/2/2022 09:36

@donald I hopld YPF bonds in size. They are incredibly indebted and almost defaulted on the last debt cliff. They had to negotiate with lenders. Further they do not sell their oil/gas at international prices as most of it goes to in country sales and the pump prices are regulated (lowered).

The extra 200kbopd is miles off they are still sorting out exploration farmins. Vacca murca ramp up is sooner but that requires a lot of Capex they don't really have.

[donald pond] 09/2/2022 09:11

Btw, people talk about enforcement in the Petersen case. They seem to forget that YPF is also a plaintiff. They produce oil: 250,000 barrels a day. I suspect that it's production costs are low so chances are that's at a $70 margin per barrel, or close to $20m profit a day. And they have plans to add another 200k bopd. It may even be that Burford never need to go after Argentina

[donald pond] 09/2/2022 06:42

This is worth reading, a US fund manager with a very good track record does a deep dive into Burfordhttps://twitter.com/stockthoughts81/status/1491129976690987009?s=21

[rar100] 08/2/2022 21:41

Oh good, one bit of POSSIBLE good news in 3 years, still of course a long way into the future and all maybe this maybe that...yawn

[syoun2] 08/2/2022 18:34

Thanks Donald , appreciated

[donald pond] 08/2/2022 11:15

Ok, so it's been agreed that there's an application for summary judgment, either side can apply, and then trial 115 days after, if judge doesn't give summary judgment. But given timescales my estimate is that the summary judgment pleadings will be filed between the end of March and mid April. Judgment I would have thought by mid-May at latest. Trial if needed by start of September.

[lomax99] 08/2/2022 09:14

My bad, your description is indeed more apt. In the UK we positively encourage it, and certain sections of the UK press (the pink one, IC) positively lord them.

[donald pond] 08/2/2022 07:52

"Argentina, YPF, Petersen, Eton and Burford, present, after almost 6 years litigating, the final schedule of writs prior to the possible start of trial.
- They admit that Judge Preska may decide the case without trial very soon.
- They will present all information of Discovery."

[maddox] 07/2/2022 22:38

Hi lomax,

I wouldn't describe them as 'toothless and ineffectual' - the LSE, fully backed-up by the FCA, actively defended the short-sellers from Burford's legal action to reveal their identities. 'In cahoots with the short-sellers' is a more apt description.

[lomax99] 07/2/2022 21:38

I wonder if they will be as toothless, and ineffectual, as the UK authorities.

[scubadiverr] 07/2/2022 20:27

https://www.ft.com/content/08899017-2994-4990-84e8-4a6efb7c57c6

[three black crows] 05/2/2022 20:03

Go for it TNT, I agree this baby is going to let rip

[divmad] 05/2/2022 19:59

Price on payment received, for success, you mean.

[tnt99] 05/2/2022 19:45

In my view an open and shut case that is Peterson is only a matter of time then watch this baby fly25 pound plus my estimated price onSuccess

[pymadams] 04/2/2022 15:35

Latest filing on Petersen case: The parties have reached an agreement regarding deadlines for pretrial filings and a trial date and are finalizing a stipulation and proposed order. The parties propose to file them by February 7, 2022.

[houseofpain1] 02/2/2022 08:35

@donald pond Lawyers love a precedent so I assume so!

[loglorry1] 02/2/2022 08:29

Big difference between breaking oil sanctions with Iran and an offshore corp buying a physical asset in Chelsea.

I dont think our Gov has any intention of stopping that sort if "investment" into UK plc.

[donald pond] 02/2/2022 08:14

We've had business updates in advance of the last 2 sets of results. Last year we had one on 17 Feb, so presume we'll get similar this year?

[kaos3] 01/2/2022 17:21

Williamcooper - agreed - I see it the same way