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surprised not to see Mercardo Libre on there $MELI ???
https://topforeignstocks.com/foreign-adrs-list/the-full-list-of-argentina-adrs/
Here's a complete list of Argentinean companies listed in America with ADR's + of course YPF
now how can America allow these companies to continue listing and availing of the American money markets and share buying institutions and of course the general public,
Right now today Argentina at any time could actually legally chose to seize any of these companies and shares without proper and full compensation to all their shareholders, because if they don't settle burfords claims, then that's exactly the same as saying Argentina can do exactly the same thing to all these companies at any time and without their shareholders having any redress in American courts,
That simply can't or wouldn't be tolerated or allowed by the American courts or stock exchanges in any jurisdictions in any part of the world, and that's why burford will win and collect billions of dollars from Argentina's own self made commercial fiasco.
Also I've no doubts that the murmuring coming from our own YPF case lawyers will get wispered out to our top management / directors around any tentive low settlement offers, this would be normal in a case like this, though not any type of concrete offer you can count on at this stage, just susing each other out, that's why burford are buying our cheap shares along with our management, and yet our normal future profits alone could justify all that share buying this week.
Sammy it's very very difficult to seize a sovereign countries assets unless your a international law enforcement company, and burford knows how to play that game, though also burford have world leading experts in nicely nicely negotiating to get a good result for us, and if that fails they will definitely have a backup plan .
I don't have a legal background though I do know that there are restrictions on any country trying to grab another country's assets, once your sovereign you have extensive legal protections, though when it comes to pay up or it will cost your country even more by way of punitive trade restrictions then it's nearly always cheaper to pay the lowest monetary sum of money. That being our near certain settlement award.
Christopher Bogart has said several times in relation to enforcing Petersen that it's different to trying to enforce a sovereign debt claim. Does anyone have the legal knowledge to explain what that means?
I imagine it's basically easier to seize assets, whereas in a debt claim you have to go through certain channels of recovery.
The bottom line is, that this case could settle at anytime from now.
Hence, and in my honest opinion, Directors are buying shares outside of the closed period before the defence and prosecution sets of case sensitive information have become readily available - which is perfectly legal for them to so. Ker chink!
Sebastian maril is right the Argentinean regime has increased its dislike to America in the last few years, there's no love lost there, though I would be confident burford should quickly retrieve all its legal cost from Argentina , which runs into tens of millions,
But for Argentina to not negotiate on any possible YPF settlement award would or should have a very overarching negative effect on Argentina to trade in most countries, America can easily convey this case to any other country or company wishing to do business with Argentina, thus hindering anyone or any connected parties doing business with that country. That could cost Argentina much more than a few billion dollars, settle up Argentina and move on I say.
Sebastian Maril - Twitter 2hrs ago,
Donald Pond to Seb Maril:
"Thanks for your updates on this Seba, its been a long journey. The credibility of Argentina, the NYSE and @BurfordCapital all depend on the outcome".
Seb Maril to Donald Pond:
"Don't forget about the credibility of the court and the precedent it will set with this landmark ruling. It affects every sovereign's intention to expropriate a NYSE-listed company and its access to the U.S. capital markets".
Later on Seb tweets:
"Any settlement must go through Congress and I do not see that happening with the current environment of Argie politics. I have always said that the losing party will lose big and an out-of-court settlement was the best way to end this thing".
From Sebastian Maril twitter.
Reading the new arguments of the case for the expropriation of YPF at 3 AM
The ruling , no matter who it favours , will be epic,
The magnitude and scope of the charges , together with the defences , place a superlative responsibility on Judge Preskas shoulders.
I strongly believe burfords short term future earnings will be between $1.40 to $2 giving a low share price of around £14 to $20 dollars that's before any huge YPF settlement money gets added on here, so today's share price is a unbelievable give away, that's why burford are snapping up our cheap shares for Burfords employee share plans, brilliant move on burfords behalf, with the directors and chairman also snapping up these cheap shares before they shoot up to a much higher level, the directors and chairman are in the know, burfords earnings should rise very significantly in the coming months and years, follow the money .
I'm with ffc and others, I'm a sitting tight with my shareholding , and for the long run if not for good, I'm confident burford will surpass any high it hit in pass years,
Guys it’s just worth mentioning if your thinking of selling when we rerate due to Petersen , that we are so much more then this one investment!!! I honestly believe we will attract so much interest that it will continue to head north over the coming years ! All imo obviously!!!! Remember it’s time IN the market rather than timing the market .
Gla ,ffc
Repsol was settled through Manhattan US Court system, as YPF was a listed on the US Stock Exchange. Just not sure at what stage it settled, looks like there were few different factors with this case, the principles are very similar of course.
Sorry that's one of those links that you can read once and then you have to pay for it if you read it a second time, !!
Maybe this will throw some light on that settlement, it seems there was also Spanish political pressure on Argentina at that time, so you can imagine the trading pressure America can bring to the table in our case, or not. The difference is burford is already in profit, repsol had everything to loose then. I think judge preska will award $12+ billion dollars , and a negotiated 50% quick settlement reduction, but to be honest anything over $1 billion dollars would make me happy and beyond that amount very happy, to make that amount from a $15 million dollar lawsuit purchase and obviously large legal cost is excellent in my view. and as Sammy says this will be on every newspaper headlines in the world.
https://www.nytimes.com/2014/02/26/business/international/repsol-said-to-reach-settlement-with-argentina.html
I'm not sure they even started proceedings. There was basically a huge row between Spain and Argentina and a negotiated settlement.
It would be good to know at what stage of the US court case, Repsol were compensated?
Did they win, then negotiate, or settle on the steps prior to judgement ...
You think it might follow a similar pattern. I know Bogart said ARG loose then usually negotiate the settlement.