Welcome to our dedicated page for Burford Capital news (Ticker: BUR), a resource for investors and traders seeking the latest updates and insights on Burford Capital stock.
Burford Capital Limited reports developments in legal finance, asset management and law-related financial services. The company provides capital tied to litigation and other legal assets, manages legal finance assets for third-party investors, and supports areas such as litigation finance, risk management, asset recovery and advisory activities for companies and law firms globally.
Recurring news includes financial results, portfolio commentary, capital actions, executive and governance changes, asset recovery activity, and updates on significant litigation-related investments such as the YPF matter. Burford's releases also cover its ordinary shares traded on the NYSE and LSE under the symbol BUR.
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Burford Capital, a global finance and asset management firm focused on law, has published the latest issue of its journal, Burford Quarterly, on April 19, 2023. This edition features insights from industry leaders, including an interview with ACC President and CEO Veta T. Richardson discussing diversity challenges in legal practice. Key topics include a case study on how health insurers utilized legal finance for risk management, insights from Burford's 2022 Securities Litigation Symposium, and discussions on the role of legal finance in protecting patent rights for medical device companies. The publication emphasizes the importance of legal finance in offsetting economic downturns for law firms and offers perspectives from insolvency practitioners across the Asia-Pacific region.
Burford Capital Limited (NYSE: BUR) announced a favorable ruling from the U.S. District Court for the Southern District of New York regarding its litigation against Argentina over unfulfilled tender offers related to YPF shares. The court found Argentina liable for damages but dismissed YPF from the case. Burford anticipates substantial damages, with estimates ranging from $4.5 billion to $7.5 billion for Petersen and between $550 million to $900 million for Eton Park. The court will hold a hearing to resolve issues before calculating damages, while Burford's shares were briefly suspended on the NYSE following the ruling.
Burford Capital Limited provided an update on its 2022 business activity, highlighting over $300 million in cash receipts and a significant increase in portfolio activity as courts resumed operations. The company reported Burford-only capital provision-direct realizations up 33% to $350 million and a record $1.2 billion in new commitments. Notable outcomes included a $90 million settlement and a potential $400 million in proceeds from appellate resolutions. Despite strong performance, Burford is revising its fair value methodology, which could lead to material changes in its financial statements. An interim dividend of 6.25¢ per share is set for June 2023.
Burford Capital announced plans to purchase up to 400,000 ordinary shares to satisfy awards under its 2016 Long Term Incentive Plan. The expected market value of this purchase is approximately £2,804,000, based on the closing price on the London Stock Exchange's AIM as of December 7, 2022. The share buyback will be requested from the trustee of the Burford Capital Employee Benefit Trust and will occur on the open market by December 31, 2022. An announcement will follow upon completion of the purchase.