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US Supreme Court denies Petersen hearing, further Burford sale of Petersen interests
Management will host a Capital Markets Event to be held on Monday 12 November 2018 in London between 3.00-6.00pm GMT.
Owing to limited in-person capacity at the event venue, Burford is hosting a webcast that will provide a real-time video broadcast of the event.
Registration for the webcast can be completed at: https://secure.emincote.com/client/burford/burford001
Burford Capital Limited (“Burford”), a leading global finance and investment management firm focused on law, announces that on 10 July 2018 the US Second Circuit Court of Appeals affirmed the trial court decision finding the Petersen claims against Argentina and YPF to be justiciable in the United States federal courts.
As a result, the case will now return to the trial court for substantive proceedings, although there is the possibility of the defendants seeking permission for a further review by the US Supreme Court, which is rarely granted.
While we are pleased with this decision, it is important to emphasize that this decision relates purely to a preliminary jurisdictional question and does not foreshadow any particular result in the underlying litigation.
Burford Capital Limited (“Burford” or “the Company”), a leading global finance and investment management firm focused on law, today announces that it has entered into a definitive agreement to sell its entire entitlement in the Teinver matter for $107 million in cash. Burford’s investment in the Teinver matter is $12.8 million. Thus, the sale represents an investment gain of $94.2 million and a return on invested capital of 736%.
The Teinver matter represents an investment in an arbitration matter arising out of the expropriation of two Argentine airlines by Argentina’s government. In July 2017, the arbitration tribunal rendered an award in favour of the claimants; that award entitled Burford to receive more than $100 million under its funding agreement. For further background to the Teinver matter, please refer to our RNS dated 24 July 2017 and our interim report for the six months ended 30 June 2017.
2017 commitments exceed $1.3 billion, more than triple 2016 level
Company also advises re financial calendar and investor meetings re possible bond issue
Burford Capital Limited (“Burford“ or “the Company“), a leading global finance and investment management firm focused on law, today reports on the strong growth in its new investment commitments.
In 2017, Burford made $1.3 billion in new commitments, more than triple its 2016 level. The new commitments reflect a number of dynamics in Burford’s business: continued growth in demand for capital in its core litigation finance business; access to capital through direct balance sheet investing and its new investment management business; and continued expansion of Burford’s product offerings and investment strategies.
Burford Capital Limited (“Burford“ or “the Company“), a leading global finance firm and investment management firm focused on law, today reports on the strong progress of its fund business at the one-year anniversary of its acquisition of Gerchen Keller Capital (“GKC”) and announces changes in Burford’s staffing and structure that position the business to meet the continuing growth of the legal finance sector.
Burford announces 2017 interim results
Management will host a conference call for investors and analysts at 2:00pm (BST) / 9.00am (EDT) on Thursday 27 July 2017.
The dial-in number for the conference call is +44 (0) 20 3003 2666 / +1 646 843 4608 / (Toll free +44 (0) 808 109 0700 / +1 866 966 5335) and the password is ‘Burford’.
A replay facility will be available until Thursday 10 August 2017 by dialing +44 (0) 20 8196 1998 / +1 866 583 1035 with the passcode ‘5490256#’.
27 Jun 2019
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This section of Burford’s website is intended for the use of Burford’s public investors and is required to be provided under AIM Rule 26. Burford also maintains a separate private funds business. Information presented here is not intended for the use of private fund investors, nor is it presented in the appropriate form for such investors. Moreover, Burford does not present this information as a solicitation of private fund investment, which occurs only through appropriate offering documents.