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...
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