Burford Capital Share Discussion Threads

[lazg] 30/4/2021 12:31

Burford Capital picks industry veteran as CFO
Apr. 30, 2021 7:07 AMBurford Capital Limited (BUR)By: Khyathi Dalal, SA News Editor

Burford Capital (NYSE:BUR) trades 1.6% higher premarket after appointing 35-years industry veteran Kenneth A. Brause as CFO, effective May 3, succeeding Jim Kilman who was appointed in August 2019 to serve for up to two years.

Mr. Kilman will spend a three-month transition period with Mr. Brause before returning to his Senior Advisor position wherein he will continue to provide strategic financial counsel to the company.

Most recently, Mr. Brause was CFO of OnDeck Capital.

[lazg] 30/4/2021 12:16

Does anyone here habe access to the "Global Consumer Litigation Funding Market" report?

[1aconic] 30/4/2021 11:24

Thanks Scuba. I'm not a holder of MANO and only follow them for industry overview. I wasn't aware of that differentiation with insolvency cases in the UK. Good to learn something new. Not sure if it applies in the US or not. I think whether aspects of Spanish and Argentine law will be applied to certain aspects is still up for grabs too.

LogLorry: Yeah, the ADRs do make a difference but hopefully not too much. Unless I'm mistaken, they're marketed as being identical though aren't they. So far they seem to be one of the biggest advantages. Being US listed ADRs was the core rationale for why Judge Preska ruled that the case should be tried in the US. They were traded in USD not ARS and so the argument for Pesos does seem pretty thin too.

Plenty of elements still up for wrangling in the case. Agree that settling appears most likely option on the balance of everything so far

[compo62] 30/4/2021 10:42

My initial buy was in April 2017 - with a meaty top-up in July of the same year. At £9.76 it was the "last chance to buy BUR under £10"

I wonder...

[syoun2] 30/4/2021 10:37

963 is the highest it’s been since the fall so just another 1% to go and clear sky all the way

[syoun2] 30/4/2021 10:34

Breakfast, lunch & dinner included

[tnt99] 30/4/2021 10:16

Up up she goes all aboard the burford express next stop no 15

[stentorian] 30/4/2021 10:10

Translation of SM's Tweet yesterday:

"Tomorrow there will be news in the case for the expropriation of YPF. The dates of presentations of the information collected during the Discoveries are approaching. Popcorn."

[loglorry1] 30/4/2021 10:08

ARG/YPFs best defense (still not very good) was that the holding was via an ADR and so that meant it was different. They are also trying to argue that compensation should be paid in pesos which have since devalued 95%. I don't think these arguments are strong but they'll make them anyway. One big problem is that they already paid compensation to another holder. That holder was not a holder of the ADR however.

Obviously they'll argue with whatever they've got for as long as they can and try and force a settlement. I'm not a lawyer and I'm biased but I don't think they'd win in a New York court. They must know that and so logically speaking they must think it's best to settle and avoid any wildcard huge awards a judge could make.

[scubadiverr] 30/4/2021 09:55

If Bogart is saying they don't have control, they won't have control of this case. However, as a general point, under UK law (and I presume US law) insolvency cases differ from other funded cases in that they can be bought and run by the financer.

[1aconic] 30/4/2021 09:43

William/Scuba: Are you sure BUR can act as principal in Petersen? Going back only a few months, ARG was trying to have the case thrown out for that very reason (and still is as far as I'm aware). My understanding is that would contravene either Spanish law or YPF by-laws (couldn't quite work out which). ARG have been hammering the point and BUR have been asserting that they don't have control. Bogart's own testimony included notable comments to that effect.

[trident5] 30/4/2021 09:34

Thanks JTS/lomax - finding out the CEO and CFO were married triggered the sale of my shares here - it proved very timely.

[1aconic] 30/4/2021 09:32

LawDawg:

New schedule (as per 19-Feb-21):
22 March 2021 status report due
Fact Discovery due by 17 May 2021 5/17/2021.
Status Conference set for 31 Aug 2021 8/31/2021 at 10:00 AM before Judge Loretta A. Preska.
Expert Discovery due by 3 Sep 2021 9/3/2021.
Motions due by 24 Sep 2021 9/24/2021.
Responses due by 22 Oct 2021 10/22/2021.
Replies due by 11/12/2021. SO ORDERED this 19 day of February, 2021. (Signed by Judge Loretta A. Preska on 2/19/2021)
Trial in Jan 2022

[lomax99] 30/4/2021 09:29

I am 100%, a quick search confirms, from an RNS dated 15/8/19:

'Mr. Kilman has agreed to serve for up to two years as CFO and the Board, once reconstituted as discussed above, will take up succession planning for the CFO role as a priority.'

Mr Brause looks like a good appointment.

[jockthescot75] 30/4/2021 09:15

Trident - Yes, I'm 95% sure they did say it was on a temporary basis when they announced it, as it was always a stopgap to help with the corporate governance side of things given the CEO and FD were married prior.
I don't remember 2 years being mentioned, but I do remember it was stated as temporary until a permanent replacement was found. In many ways, I like the fact they've taken their time to find the right person.

[this tea tastes of chicken] 30/4/2021 08:38

Mr Brause started his career as a consultant with Booz, Allen.

Hopefully we'll all be having a good drink by the end of his tenure.😎

[trident5] 30/4/2021 08:36

Did we know that Kilman's tenure was only 2 years?

[tnt99] 29/4/2021 21:12

This is rated as the most undervaluedStock on the lse up up we go to true value with a little help from my Reddit followers woo woo next stop 15 pounds get on the train

[three black crows] 29/4/2021 20:17

Seems that the potential has been spotted

[onup1] 29/4/2021 20:12

Nyse seems heavy buying last 4 days

[three black crows] 29/4/2021 19:45

Pre Muddy Waters price was £15 or $20,
This is where it should be heading for a starters, Burford is in a stronger financial position now anyway, so seems like a reasonable re - rate to me

[lawdawg759] 29/4/2021 19:44

Does anyone have the most up-to-date scheduling order for Petersen?

[saltraider] 29/4/2021 18:10

I don't think there is any too much to be read into this. It's just the routine proceedings of the Court.

[lomax99] 29/4/2021 18:04

Maril Tweet: Tomorrow there will be news in the case for the expropriation of YPF. The dates of presentations of the information collected during the Discoveries are approaching. Popcorn.