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.
Burford Capital (NYSE:BUR), a leading global finance and asset management firm specializing in law, announced that previously proposed tax provisions related to litigation finance have been removed from the US Senate's budget reconciliation bill. The removal came after the Senate Parliamentarian ruled these provisions ineligible for inclusion. The Senate has subsequently adopted the bill without the litigation finance provisions.
Burford Capital (BUR), a global finance and asset management firm focused on law, has announced two significant developments. First, the Senate Parliamentarian ruled that proposed tax provisions relating to litigation finance in the US Senate's draft budget reconciliation bill are not eligible for inclusion.
Second, in the Petersen and Eton Park matters, the U.S. District Court for the Southern District of New York has ordered Argentina to transfer its Class D shares of YPF (approximately 51% of outstanding shares) to a Bank of New York Mellon custody account within 14 days. These shares are to be transferred to Petersen and Eton Park within one business day thereafter. While this represents a positive step in the enforcement campaign against Argentina, Burford notes that further judicial proceedings may follow.
Burford Capital (BUR) provided an update regarding proposed tax provisions for litigation finance in the US Senate's draft budget reconciliation bill. The revised bill includes a reduced tax rate of 31.8% (down from 40.8%) and a withholding tax rate of 15.9% on gains (reduced from 50% of tax rate on gross proceeds).
According to the Joint Committee on Taxation, the expected tax revenue from these provisions over the next decade has been reduced to $1.4 billion, down from previous estimates of up to $3.5 billion. The company notes that the legislation remains under Senate debate, with uncertain procedural and political steps ahead. Burford states it cannot yet assess the potential impact of these provisions on its future tax position if enacted.
Burford Capital (NYSE:BUR) has released new research revealing that US companies are significantly underutilizing commercial class action opt-out opportunities. The study, surveying 301 senior in-house lawyers, found that while 54% of companies had potential recoveries exceeding $50 million in the past five years, 62% typically remained in class actions.
The research indicates that 71% of lawyers believe opting out would have increased recoveries by over 25%. Despite 86% prioritizing maximizing recoveries, companies cite litigation costs and outcome uncertainty as main deterrents. Legal financing solutions, which could address these barriers, remain underutilized, with only 39% of companies having used them for opt-out strategies.
Burford Capital (BUR) has announced a significant change in its MSCI country classification, transitioning from the United Kingdom to the United States. The reclassification will be implemented after market close on May 30, 2025, and become effective on June 2, 2025. As a result, Burford will be added to the MSCI USA Indexes and MSCI US Equity Standard and Small Cap Indexes, while being removed from the MSCI United Kingdom Indexes. This change is expected to trigger a shift in passive holdings from Burford's London-listed shares to its New York-listed shares in the near term.
Burford Capital (BUR) has released its unaudited financial results for Q1 2025, reporting strong performance during what is typically a slower seasonal period. The company, which specializes in legal finance and asset management, experienced new business and realization activity significantly above first quarter levels compared to recent years.
CEO Christopher Bogart highlighted the company's focus on three core areas for shareholder value: platform growth, portfolio cash realizations, and generating attractive capital returns. Bogart emphasized that the uncorrelated nature of legal finance positions Burford advantageously in the current volatile market environment.
Burford Capital (BUR) has announced an upcoming audio webcast for retail shareholders scheduled for June 5, 2025, at 10:00 AM EDT / 3:00 PM BST. During the call, CEO Christopher Bogart and CFO Jordan Licht will discuss the company's financial results and address shareholder questions. Retail shareholders are required to pre-register for the event through a provided link and can submit questions in advance via email to IR@burfordcapital.com.