Best guess then |
Wish I knew |
What is the possible level of burford shares this year? |
 Hur vs Google £5 Bn
Hat tip to Brigra for this, in case not seen :
hxxps://www.geradinpartners.com/dr-or-brook-to-file-multi-billion-pound-damages-action-against-google-on-behalf-of-uk-search-advertisers/
.."Dr Or Brook and Geradin Partners have today announced that they will file a UK opt-out competition damages claim on behalf of UK-domiciled advertisers who have used search advertising services provided by Google. The claim, estimated to be worth over £5bn, will focus on anticompetitive conduct by Google which has harmed UK advertisers and will be filed shortly in the Competition Appeal Tribunal, the UK’s specialist competition court. Dr Or Brook and Geradin Partners have secured funding from Burford Capital, the leading global finance and asset management firm focused on law.
Meanwhile , re Greenland and Energy Transition Minerals' $11.5Bn claim
Here's some light weekend reading : the full story behind BUR's litigation case there :
hxxps://www.undervalued-shares.com/weekly-dispatches/energy-transition-minerals-the-crazy-greenland-micro-cap/
There's some suggestion that - if ETM/BUR win - Trump will offer to pay something on Greenland's behalf (Denmark is unlikely to pay), in exchange for access/control/whatever.
There's a certain symmetry in his thinking - take sand from the Arabs and ice from the Eskimos!
;-<<br />
GLA and ATB |
From Seb
1. Beneficiaries of the two rulings (on the one hand, Attestor Master and 6 other funds, and on the other hand, Bainbridge Fund), submitted a proposal to divide the USD 310 million corresponding to the collateral of the Brady Bonds. The proposal included the seizure of USD 210 million for the Attestor group and the freezing of USD 100 million that this group and Bainbridge are fighting over in the Preska court. This occurred on February 5.
2. On February 6, Judge Preska accepted the motion and asked the parties to draft the Execution of the Judgment themselves (to be submitted to the NY Fed) as well as a schedule of filings to decide who gets the $100 million. She agreed to sign the Execution of the $210 million.
3. In any case, the USD 310 million no longer belong to the Republic of Argentina.
Slowly, slowly...
ATB |
From Sundance RNS today:
Sundance Resources Ltd (“SundanceR21; or “Company”;) wishes to provide an update regarding the
proceedings between Sundance and the Republic of Cameroon (“CameroonR21;).
On 16 September 2024 the Company announced that the hearing for the arbitration between
Sundance, Sundance’s subsidiary CamIron SA and Cameroon (“the Parties”) was scheduled to occur
before a tribunal constituted under the rules of the International Court of Arbitration of the
International Chamber of Commerce (“ICC”) on 27 January 2025 in Paris. Sundance also announced
at the time that Cameroon’s lawyers and independent experts had stopped work on the case as they
had not been paid.
The hearing occurred on 28 January 2025 in Paris between Sundance, its lawyers and independent
experts and the ICC tribunal. Cameroon had decided to not pay its lawyers and independent experts
therefore there were no Cameroon representatives at the hearing despite Cameroon and its legal
team being fully informed of the proceedings and given every opportunity to attend.
The Company is now waiting on a decision from the ICC tribunal which is not expected for a number
of months.
The Company will update shareholders when a decision has been handed down. |
Out of left field.
This might be politically risky, but with potentially a huuuge pay-off:
FT: Javier Milei pins dream of privatising Argentine football on one club US investor’s pursuit of a stake in Estudiantes fuels push to overhaul non-profit model
Interesting article on current business model (member-owned) and pros and cons of suggested change.
Milei (good photo of him as a tousle-haired young player) thinks it's worth the risk :
“Football is everything in Argentina,” he said. “If Milei can say ‘I’ve changed football’, then he’ll feel he’s proven to society that he was right about private capital and deregulation being our saviour.”
Sorting out the economy AND football? He'll be unstoppable!
'Divide and rule'
;->
GLA |
I'm hoping by Christmas |
When will we get there 20 pounds |
If you look at the rulesets for the plans quoted ... The 10b5-1 plans allow shares to be sold outside of normal closed rules because the triggering of the dealings are already prescribed and forecast and are simply executed by the administrator - Merrill. The Directors therefore have no control over pricing etc and enables Directors who could be permanently in receipt of material knowledge to deal without restriction. They do so at the perils of market conditions etc |
What are the rules about selling for directors? Why not wait until after results ? |
London seems to be reacting to the share sales this morning. Looks to be London (yet again) getting this wrong. As others have noted, these were announced a couple of days ago in the US so the share price reaction says a lot about how well followed/understood this stock is in the UK - ie no reaction on the news two days ago but now a reaction that there is a UK RNS to look at...In any event though, I think there's nothing to react to. This is normal practice in the US and mainly used to settle tax due on RSU awards. They also advised that they would be doing this in the Q2 24 report on 8 August last year. See the section headed "Adoption of US Rule 10b5-1 executive share liquidity plans": hxxps://investors.burfordcapital.com/news/news-details/2024/Burford-Capital-Reports-Second-Quarter-2024-Results/default.aspx And, as others have of course said, this is a drop in the ocean in terms of their overall holdings. Absent other news, would expect this "London gap" to be closed once the US starts trading. |
As per the 2023 annual report, they held 19,018,630 ordinary shares between them. |
To put the share sales in context, the 180,000 shares sold in total by Bogart and Molot represent less than 1% (!) of their ordinary share holdings. |
I think the RN's were posted after the market closed in the US |
https://www.investegate.co.uk/announcement/rns/burford-capital-npv-di---bur/director-pdmr-shareholding/8715572 |
And now 0730 here. |
Published in the US last night |
Not me. Care to be more specific? |
Just received emails from Burford stating sales of Burford shares by some of the main Directors. Anyone know any more about this |
Not sure I quite agree it has nothing to do with Burford, this is the start of a wave of enforcements coming good against Argentina. The more they lose and the more seizures that can be enforced, the more there is incentive for Argentina to settle constructively. All necessary ducks in line for the YPF case, which I'm guessing was extraders reason for referencing (as other posters have also done in recent months). |
It's is indicative that Argentina are wanting to be part of the dollar world, they will finally pay their debts and as such it is a good indicator for Burford. Granted it may take another year. Good chat on LSE about bonds options. |
This has nothing to do with Burford |
Seb 30 mins ago
🔴Draft for the seizure of $310 million in collateral from Brady Bonds. All that remains is Judge Loretta Preska’s signature for the Federal Reserve Bank of New York to release the assets.
GLA |
From Seb
🔴Attestor Master and other funds are requesting a hearing with Judge Preska before seeking the seizure of Argentine sovereign assets, which, when it takes place, will be done confidentially. They are also seeking to prevent another fund, Bainbridge Fund, from interfering with the seizure of USD 310 million.
ATB |
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