Burford Capital shares surge after US court rules against Argentina in YPF case

Shares up 30% this morning

Shares of Burford Capital, the AIM-traded litigation finance provider, surged 30% in early morning trading, following its victory in a long-running legal dispute with the Argentinian government.

On 31 March, a US federal court found Argentina liable for failing to make a tender offer for their shares in Argentine oil company YPF, of which a majority of 51% was renationalised in 2012 after having conducted an IPO.  In a stock exchange notice today (3 April), Burford explained: "The ruling was a complete win against Argentina with respect to liability, with the quantum of what we expect to be substantial damages yet to be determined, and a loss against YPF. However, no additional damages would have been payable had YPF also been found liable." The Argentinian government may now...