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Burford Capital Limited ("Burford"), the leading global finance and asset management firm focused on law, today announces that it will release its financial results for the year ended December 31, 2023 ("FY23") and the three months ended December 31, 2023 ("4Q23") on Thursday, March 14, 2024, at 7.00am EDT / 11.00am GMT.
In case of a growing company, there are several parameter, by which you can evaluate their performance.
Paying 9 % as interest may be a better deal, than leaving out promising opportunities or fund them through the investment funds. A few of the main long time owners might also be those fimamce by bonds, at that nice level of interests. They are bankers, with almost infinite resources.
"We are having a blow out year"
RNS:
"Burford Capital Limited,the leading global finance and asset management firm focused on law, today announces the closing on January 30, 2024 of the private offering of $675.0 million aggregate principal amount of 9.250% senior notes due 2031."
We certainly are Mr Bogart, we certainly are.
AceOfClubs
Hi Brigra, thanks for this!
This is the Quillan partner (founder) involved hxxps://www.lexology.com/firms/1325267/Mark_Hastings
.."For over five years, Mark acted for notable oligarch Boris Berezovsky, now deceased, in several signature cases. In Gorbunova v Berezovsky (2013), Mark succeeded in setting aside a £300 million worldwide freezing order obtained by his client’s former long-term partner, who made several claims against him. In Berezovsky v Hine & Ors (2011), Mark acted in a number of separate multi-billion-dollar actions arising from an alleged joint venture between CIS oligarchs, in a case involving freezing orders, search and seizure orders, jurisdiction disputes, complex issues of Russian law and Russian asset valuation. In Berezovsky v Abramovich (2012), Mark acted in $6 billion Commercial Court proceedings concerning Russian oil and aluminium assets, with the three month trial described by the international media as the most significant private court case ever..."
'Don't mention the Malvinas, ...'
Ho hum
No problem.. I tweeted Seb with the Magazine editor's details.
Seb replied to me saying that they had contacted him. He is now waiting for a copy of the actual document to see the details.
https://twitter.com/BrianCop/status/1765513935866798125
Google "New York moves to rewrite law on sovereign debt default recovery"
My reading is that it will only affect bond debt raised in NY and this nothing to worry about. I have however already written to Robert in IR and will share if anything of note
Interesting indeed …thank you Brigra
Things are hotting up!
A claim for the full $16B was lodged in the commercial court in London today.
Make Hastings of Quillon law filed it.
https://www.cdr-news.com/categories/litigation/20272-argentina-investors-file-usd-16-billion-london-enforcement-claim
Https://www.ft.com/content/3c4f3323-d9bb-4399-94fb-0bd4abd67b2a
I managed to open without bring subscriber.
I think it has nothing to do with anything in Burfords business .
Br
Thanks for all the responses, appreciated. ATB all
As a layman, without legal qualification, just at first sight: BUR's and its clients claims, and the awards are not defaulted sovereign debts.
Could someone with a legal background comment on whether this might have any impact on the progress of BUR's New York litigation, pls?
FT today : New York moves to rewrite law on sovereign debt default recovery
.."New York lawmakers have moved to limit how much creditors can recover from defaulted sovereign debt in the state's jurisdiction, ..."
rest behind paywall.
The issues are set out here hxxps://www.cliffordchance.com/content/dam/cliffordchance/briefings/2023/05/sovereign_debt_restructuring_three_new_york_assembly_active_bills.pdf
but I'm having a Paddington moment :'I am a bear of very little brain and long words bother me'.
;-
As I said before if milei wakes up and offers some kind of general amnesty for hidden dollars under peoples beds etc then tens of billions of dollars will be ploughed back into the Argentine banks for milei to collect taxes from, if he does this there could be a tsunami of dollars flooding into his banks and making it much easier for milei to dollarize his economy, that in itself will help to stabilise inflation for the ordinary poor people of that country, it would also be the biggest and most important incentive for multinational companies to do business in argentina and pay substantial taxes in argentina, get those hidden dollars out from beneath those hidden places and quicken up this whole dollarization programme. milei needs to encourage those hidden dollars out from there fearful place and into the Argentine banks to earn some interest for those impoverished citizens.
https://www.batimes.com.ar/news/economy/argentines-put-us23-billion-into-banks-signalling-faith-in-milei.phtml
Gla
"We are having a blow out year"
400 Million Doller in Cash from Non YPF cases, from increase cases pre 2020.
TOP UP
I’m so sorry jammy I seem to have started something ! My bad. Thing is it’ll be a least a couple of decades until I’m possibly proved wrong given my prediction of £100 was before I die. lol unlike matey with his certainty that it would be circa 20-26. Yes others thought it “possible” but that weren’t trying to convince the left s say more gullible!!!! Also the newbies here didn’t know about his “friend”
Absolutely everyone is free to post whatever but I refuse to allow some garbage unchallenged!!!
I have just recently (for a year) read and written on share forums or chats. Out of question, BUR forums are the extremely rare exception, where almost never can we read personal remarks, where you cannot find neither lunatocs nor those are eager to be THE right. Many valuable contribution and opinion. Some professionlism. And mutual respect to each other. This trend
should be maintained.
Br and Gl.
Gtx1 - The writing style of you and Rabc are exactly the same and you even sign off your posts the same! I'll leave it to others to check out the similarities and decide. As for my mood I still remain in a good mood, despite your efforts.
I'm going to park this as this is the Burford thread and would rather that be the topic for discussion
Oh I see anyone who backs me up here are all part of my gang and made up false accounts or something like that, the sort of thing that trump puts out for for facual misinformation to his believers, jammy if it suits you to think that then you wear that hat on your trump like head, but in the real ordinary normal world people post here and have there individual say on what's being said, respect that jammy, I do even if I have to say it's rubbish or non factual, it's up to that poster to back up there negative assertion about burford if they want to be believed by anyone,
As for your shield therapeutics shares at 60p and now just more than 2p. That's a horrific was blow for you, but own it and don't go taking your moods out on other innocent posters here jammy.
Gla
Gtx1, TB, Rabc and no doubt countless other handles - you remember poorly and even if you were correct, which you're not - to write such sums you up
Rider75 Argentina have officially pencilled in a settlement award of $8.4 billion dollars, believe me around that figure this case will get settled for, Burford acknowledges that we won't collect that top figure of $16 billion dollars,/ I wish,
So some kind of payments plan will eventually come in at around $8.4 billion dollars and believe me Burfords management will rejoice in anything near that figure. At the minute it's politically dangerous for Argentina to agree even that amount but that will hopefully change very soon.
Gla
I dont really get it how anyone can quote muddy waters again...
BUR could easly make cash flow by selling to third parties its holdings but why would they? Their aim was to overweight their self funded (BURF only) cases to maximize profit in the future. Could easily substitute the soutce of finamce of hese self funded (or bond funded) cases with external capital (funds).
At least I think thats the case.
Arg stated before that they think 4-5 bn (instead of 16) would be fair. Thus the present valuation in the books cannot be exeggarated
Jammyc go and get some help mate , don't take your moods out on other posters if you've invested heavily in shield therapeutics at around 60p if I remember correctly and now around 2p , that's life unfortunately, own it, don't take your moods out on other posters here or anywhere, penneylots has been on occasion a good contributor to this forum, though maybe this fall again has triggered some kind of anti burford meltdown, I don't know, but pennylots post are normally worth waiting on.
Gla
Setup another account GTX?
Rabc, your on the money mate.100% agree with all that.
Gla