Every 8-K that Burford Capital Limited (BUR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow BUR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BUR filings page.
Burford Capital Ltd (BUR) reported that a jury awarded the plaintiff $5.7 billion in damages in Taction Technology, Inc. v. Apple Inc., a patent case in which Burford has a financial entitlement. If the verdict were paid as is, Burford’s entitlement would be $1.4 billion, split roughly equally between its balance sheet and investment funds.
Burford said the award is likely to be altered in post-trial and/or appellate proceedings. The verdict is not a final judgment and has not resulted in cash proceeds received by Burford. Post-trial proceedings have yet to occur, including a motion by Apple for judgment as a matter of law. Burford said the ultimate outcome and any recovery remain uncertain and depend in part on its financing agreement, fees, expenses, taxes and other deductions.
Burford Capital Ltd, through its indirect wholly owned subsidiary Burford Capital Global Finance LLC, closed a previously announced private offering of $300 million aggregate principal amount of 8.000% senior secured notes due 2029. The notes are guaranteed on a senior secured basis by Burford Capital and are secured by substantially all of the Issuer’s assets and the capital stock of certain Burford Capital subsidiaries, subject to exceptions.
Burford Capital intends to use the net proceeds from this offering, together with cash on hand, to redeem in full its 6.250% senior notes due 2028. The new notes bear interest at 8.000% per annum, payable semi-annually in arrears on April 15 and October 15, commencing April 15, 2027, and mature on October 15, 2029. An indenture governing the notes places limits on additional indebtedness, cash dividends and other restricted payments, certain liens, major asset sales and mergers, affiliate transactions, and, for Burford Capital itself, engaging in material business activities or owning material assets.
If a Change of Control Triggering Event (as defined in the indenture) occurs, the Issuer must offer to repurchase all outstanding notes at 101% of principal plus accrued and unpaid interest.
Burford Capital Ltd (BUR) reported that its indirect wholly owned subsidiary, Burford Capital Global Finance LLC, has launched a planned private offering of $300 million aggregate principal amount of senior secured notes due 2029.
In connection with this, the subsidiary has delivered a conditional notice of redemption for all $400 million of its outstanding 6.250% senior notes due 2028, with a planned redemption date of September 24, 2026, contingent on receiving at least $300 million of new indebtedness proceeds on terms satisfactory to the issuer. Burford also states that it intends to pursue additional de-leveraging transactions, which may include open market purchases of outstanding debt, on an opportunistic basis and subject to market conditions.
Burford Capital Limited reported mixed results for the three and six months ended June 30, 2026. Consolidated GAAP net income was $9 million in 2Q26, while net income attributable to shareholders was $2 million, compared with $88 million in 2Q25. For YTD26, net income attributable to shareholders was a loss of $(1,630) million, primarily driven by a substantial unrealized fair value write-down of YPF-related assets.
Operationally, cash generation was strong. Burford-only cash receipts were $157 million in 2Q26, the highest quarterly figure since 1Q25 and more than three times 2Q25, with YTD26 cash receipts of $247 million. Cash and marketable securities totaled $733 million as of June 30, 2026, while debt payable was $2,403 million. Tangible book value per share declined to $3.12 from $10.57 at December 31, 2025, and the debt to TBV ratio increased to 3.5x.
Management highlighted July 2026 portfolio developments, including a favorable $600+ million mining arbitration ruling that would entitle the Principal Finance segment to around $200 million if paid in full, an additional US jury verdict that would entitle Burford group-wide to $83 million if paid in full, and a favorable German Supreme Court ruling enabling cases with damages claims exceeding $500 million. The company is prioritizing portfolio-driven cash generation, about $10 million in annualized compensation savings, careful liquidity management and options to address a $400 million 2028 debt maturity, and it does not intend to declare an interim dividend in 2026.
Burford Capital Limited reported the results of its May 13, 2026 annual general meeting. Shareholders voted 152,939,775 ordinary shares, about 70.02% of the 218,422,440 shares outstanding as of the March 16, 2026 record date. All resolutions 1 through 16 passed, including the re-election of seven directors and approval of a final cash dividend of 6.25¢ per share, payable June 12, 2026 to shareholders of record on May 22, 2026. Investors also reappointed KPMG LLP as auditor, approved auditor compensation, received the 2025 accounts, and backed the advisory Say-on-Pay proposal with 72.92% support. Shareholders authorized the board to issue shares and make market purchases of ordinary shares, including limited non-pre-emptive issues for cash and for acquisitions or specified capital investments.
Burford Capital reported a GAAP net loss of $1,633 million for 1Q26, driven mainly by a large non-cash write-down of its YPF-related assets following an adverse US appeal ruling. Capital provision income was a loss of $1,669 million on a Burford-only basis, reflecting this valuation hit.
Management cut the Burford-only fair value of YPF-related assets to $93 million, but noted the case has already generated $236 million in cash proceeds and more than $100 million in profit and is being pursued through international arbitration. Outside YPF, the Principal Finance portfolio (excluding YPF) had deployed cost of $1,747 million and fair value of $2,137 million, and Burford ended the quarter with $740 million of cash and marketable securities against debt of $2,402 million, a debt-to-net tangible equity ratio of 3.5x.
Burford Capital Limited furnished a press release explaining that the US Court of Appeals for the Second Circuit reversed the prior District Court judgment in favor of Petersen and Eton Park in the long‑running YPF litigation. The company criticizes the majority’s reasoning and notes a strong dissent that would have affirmed the original judgment.
Burford says plaintiffs are expected to seek further review, potentially through an en banc rehearing at the Second Circuit and, depending on outcomes, possible US Supreme Court review. In parallel, they are likely to consider investment treaty arbitration against Argentina as an alternative route for recovery.
Management will assess the decision’s financial impact in first‑quarter reporting. Under Burford’s valuation policy, an intermediate appellate loss calls for a partial non‑cash write‑down of related assets, which is expected here. Because the YPF asset has a substantial carrying value, a material write‑down could reduce balance sheet equity enough to limit Burford’s ability to incur additional debt or make certain restricted payments under its senior note indentures. The company emphasizes that its broader portfolio continues to drive the business and that it recently raised additional capital to support future investments.
Burford Capital Limited updated the employment terms of its current President, Aviva Will. Effective March 11, 2026, she will transition from President to Vice Chair and will no longer serve as an executive officer of the company.
Under the amended and restated employment agreement, Ms. Will’s new role has a two-year term with an annual base salary of $1,000,000 and eligibility for employee benefit plans. She will receive a one-time cash retention payment of $1,762,984.88, a one-time grant of restricted share units valued at $300,000, an additional grant of 4,240 RSUs, and carried interest for the 2025 vintage year at the same level as in 2024.
If Burford terminates her employment without cause, she is entitled to a cash severance equal to the greater of $1,000,000 or her remaining base salary for the initial term, plus up to twelve months of continued health coverage for any termination. The agreement also includes ongoing confidentiality and non-disparagement obligations, and one-year non-compete and non-solicitation covenants after employment ends.
Burford Capital Limited reported mixed 2025 results, combining solid full-year profitability with a weak fourth quarter. For FY25, consolidated GAAP net income was $72 million, with $63 million attributable to Burford shareholders, down from $146 million a year earlier. 4Q25 swung to a loss of $(50) million consolidated and $(37) million attributable, reflecting extended case durations and unrealized fair value losses.
Capital provision income was $331 million in FY25, a 15% decline from $388 million, while cash receipts were $530 million versus $699 million in 2024, still highlighting strong cash generation from realizations. New definitive commitments rose 39% to $872 million and deployments increased to $459 million, supporting portfolio growth. Modeled realizations (excluding YPF) increased by about $700 million to $5.2 billion, with an implied modeled ROIC of 110%.
Book value per share at year-end was $11.18 and tangible book value per share was $10.57. Debt payable stood at $2.13 billion, with liquidity of $621 million in cash and marketable securities. The board declared a final dividend of $0.0625 per ordinary share for 2025, payable June 12, 2026 to shareholders of record on May 22, 2026, subject to shareholder approval. The company also highlighted a three-year rolling ROTCE of 13% and a fair value of $1.7 billion for its YPF-related assets as of December 31, 2025.
Burford Capital Limited disclosed that its indirect subsidiary Burford Capital Global Finance LLC has closed a private offering of $500,000,000 aggregate principal amount of 8.50% senior notes due 2034. The notes are guaranteed on a senior unsecured basis by Burford Capital and were issued under an indenture dated January 15, 2026 with U.S. Bank Trust Company, National Association, as trustee.
Burford Capital intends to use the net proceeds to redeem its 5.000% bonds due 2026 and for general corporate purposes, which may include repaying or retiring other existing debt. The new notes pay interest at 8.50% per annum, with semi-annual payments each January 15 and July 15, starting on July 15, 2026, to holders of record on the preceding January 1 and July 1.
The notes mature on January 15, 2034 but may be redeemed by the issuer, in whole or in part, before maturity as described in the indenture. Burford Capital PLC has issued a notice to redeem all outstanding 2026 bonds, with redemption scheduled for January 30, 2026, aligning the new financing with the upcoming bond maturity.
Burford Capital Limited reported that its subsidiary Burford Capital LLC has entered into amended and restated employment agreements with Chief Executive Officer Christopher P. Bogart and Chief Investment Officer Jonathan T. Molot, effective January 1, 2026. These changes respond to negative feedback from Institutional Shareholder Services following the May 14, 2025 shareholder meeting.
The new structure removes the target annual discretionary bonus and restores the executives’ formulaic carried interest from 3.00% back to 3.75% each, based solely on cash gains. As of January 1, 2026, each executive will generally receive a $1.9 million base salary plus 3.75% carry, with no annual bonus, and certain historical perquisites are discontinued.
If Burford terminates an executive without Cause or the executive resigns for Good Reason (outside a Change in Control Period), each is entitled to a cash severance equal to two times the sum of his annual base salary and $2.0 million.
Burford Capital Limited furnished an update on its operations by issuing a press release and a detailed presentation covering financial results for the three and nine months ended September 30, 2025. The materials were provided via a Form 8-K under Results of Operations and Financial Condition.
The press release and presentation are included as Exhibits 99.1 and 99.2 and are incorporated by reference. The company noted this information is being furnished, not filed, under the Exchange Act. Burford’s ordinary shares trade under the symbol BUR on the New York Stock Exchange and on London Stock Exchange AIM.
Burford Capital Limited furnished an update via Form 8-K about the status and expected timeline of the YPF matter in US and foreign courts. The company issued a press release on October 22, 2025, and attached it as Exhibit 99.1.
The information under Item 7.01 is being furnished, not filed, and is not subject to Section 18 liability nor incorporated by reference unless specifically stated. The filing also includes standard forward-looking statements language.
Burford Capital Limited’s board of directors approved and declared an interim dividend of 6.25 US cents per ordinary share for the year ending December 31, 2025. This interim payment represents cash being returned to shareholders ahead of the company’s full-year results for 2025. The update was disclosed as an Other Events report, and a related press release dated September 29, 2025, provides additional details.