Burford Capital Share Discussion Threads

[gettingrichslow] 31/3/2023 17:04

Up over 40% now in the US. And the fact that they’ve got this one over the line will open up all sorts of re-evaluations about what’s possible going forward.

[reddirish] 31/3/2023 17:03

The ask price seems to have peaked at 935 prior to suspension, which goes some way to explaining the halting of trading on both exchanges. Interesting judgement; until the formal date at which ownership was assumed by the Argentinian state can be determined, the absolute quantum of damages will be (slightly) uncertain, though surely that would be a matter of months difference. Any comment on the judgement on whether the offer price will be set in pesos or US$? That is vital....

[djderry] 31/3/2023 17:02

Game,set and match for Burford.A comprehensive victory against the Republic,clarity regarding the parameters of the award.Formula D,the highest,is to be utilised.The tender offer price is the appropriate benchmark.The plaintiffs are entitled to pursue damages.Magnificent win.That the claim against YPF is dismissed is fine ( 'we had no choice,we were expropriated too!) In one way,it's ideal,cashflows from YPF may be important in the settlement.The only issue is the extent of the damages,but only as regards the counterfactual date.Argentina now know ( as if they didn't already)that they have lost,it could be seen as a partial victory if they can manage to settle for less.Let the horse-trading begin!

[three black crows] 31/3/2023 17:02

Rocket fuel behind the share price at the moment

[lomax99] 31/3/2023 17:01

Are damages payable in USD?

[donald pond] 31/3/2023 16:59

Looks like the judgment says damages in accordance with the formula set out in bylaws with interest at Argentine rate of 6-8%, so that looks a very big win

[return_of_the_apeman] 31/3/2023 16:59

Thanks EdmondJ for the link

64 pages of weekend reading :-)

Is the payout likely to be whatever per share was tendered + 9% interest from the rough date the tender was made (to those who actually got paid)?

[prokartace] 31/3/2023 16:59

Trading equiv of £8.15 currently in NY

[loglorry1] 31/3/2023 16:56

Not sure it's so amazing. Doesn't tie in ypf and SJ not on all parts claimed.

[reddirish] 31/3/2023 16:56

The ask price seems to have peaked at 935 prior to suspension, which goes some way to explaining the halting of trading on both exchanges. Interesting judgement; until the formal date at which ownership was assumed by the Argentinian state can be determined, the absolute quantum of damages will be (slightly) uncertain, though surely that would be a matter of months difference. Any comment on the judgement on whether the offer price will be set in pesos or US$? That is vital....

[edmondj] 31/3/2023 16:51

See:



UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
PETERSEN ENERGÍA INVERSORA,
S.A.U. and PETERSEN ENERGÍA,
S.A.U.,
Plaintiffs,
-againstARGENTINE REPUBLIC and YPF
S.A.,
Defendants.
15 Civ. 2739 (LAP)
16 Civ. 8569 (LAP)
OPINION & ORDER
ETON PARK CAPITAL MANAGEMENT,
L.P., ETON PARK MASTER FUND,
LTD., and ETON PARK FUND, L.P.,
Plaintiffs,
-againstARGENTINE REPUBLIC and YPF
S.A.,
Defendants.
LORETTA A. PRESKA, Senior United States District Judge:
Plaintiffs Petersen Energía Inversora, S.A.U. and Petersen

[1aconic] 31/3/2023 16:49

NYSE back trading

[tonysss13] 31/3/2023 16:43

trading is suspended now in UK

[three black crows] 31/3/2023 16:40

Interesting how the share price was suspended in NY but not in UK

[reddirish] 31/3/2023 16:39

That sounds as if it will need a court case to resolve....a cop out from Presca!?

[stentorian] 31/3/2023 16:38

Er..it has gone 16:30

[kaos3] 31/3/2023 16:35

.trading stopped

[williamcooper104] 31/3/2023 16:34

That's your 9 percent (simple) default interest then - or does that accrue from today? Think it's the later

[williamcooper104] 31/3/2023 16:32

Clue as to damages amount - so so long as it's USD denominated (which probably is) it's a big figure https://twitter.com/SebastianMaril/status/1641825352883347457?s=20

[stentorian] 31/3/2023 16:31

Porsche now downgrading to a VW Up!

[1aconic] 31/3/2023 16:30

Seb Meril is posting tweet after tweet summarising the judgement.

[jockthescot75] 31/3/2023 16:29

Burford investor section of website down too.
Anyone had a chance to read?