Member Info for Renegade

https://www.defenseworld.net/2022/07/19/1501018-shares-in-burford-capital-limited-nysebur-acquired-by-sumitomo-mitsui-trust-holdings-inc.html

Just noticed that the USA short has increased from 829.61K  on 15 June 2022 to 863.03K on 30 June 2022. This has been reported some two weeks late but that is quite normal.

https://www.marketwatch.com/investing/stock/bur

ffc,

There's a nice golden cross heading our way next week which should be very positive for the SP. All things equal that is. DYOR. Lol.

https://www.investopedia.com/terms/g/goldencross.asp#:~:text=A%20golden%20cross%20is%20a%20technical%20chart%20pattern%20indicating%20the,indicating%20a%20bearish%20price%20movement.

Syoun11,

On 23rd June I posted (which still applies):

Regardless of Judge Preska's SJ decision - which could be 1-3 months away (or even greater!) - and with the possibility of further oral arguments commencing soon, I now ask myself how and when will the judge deliver her judgement?

Obviously her judgement will be price sensitive information so her verdict must be water/air tight up to the point of delivery. Any surges in share prices (before her verdict) would make me very suspicious although some profiteers may well see gain in spreading false rumours and information. Be aware!!!

As for the delivery, will her judgement be delivered through the US judicial system first or will both parties be told of her decision in advance to allow them time to raise RNS's which could then be released to the market to coincide with the court news? If this is so, it would mean more eyes on the prize and in the know beforehand!!!

Next I ask, what time of day will the judge release her verdict? Will the news be released in advance of the LSE opening, during LSE operating hours or even after the LSE has closed when the NYSE is in full swing? Questions, questions, questions!!!

No doubt from tomorrow, many investors both here and over the pond will be glued to their phones and electronic devices waiting for the news.

As reported by Sebastian Maril on 28 Jun 22:

"Judge Loretta Preska orders Banco Nacion in New York to deliver documents, emails, account information or any object, to initiate an inspection (Discovery) for the purpose of seizing assets and to pay a judgment to a creditor with bonds in default".

Accordingly in the link below, quantity 15x Banco Nacion branches lay outside Argentina (possibly more now?):

https://en.wikipedia.org/wiki/Banco_de_la_Naci%C3%B3n_Argentina

So with plenty of banks to choose from, Burford should have no problem obtaining assets/funds from Banco Nacion in countries who adhere to the American judicial system.

Gtx,

It depends on how Judge Preska decides to give her SJ decision. She may give it orally and then follow it through with an in depth write up which would support her decision (the quick way) or she may decide to go the hole hog and write the SJ decision in full before bring both parties together and announcing the outcome (the slow way). We just don't know.

Even though the case has been in the courts for 7 years and she and her predecessor have had nearly all the information in front of them for some considerable time, her decision will have to be thorough, unambiguous and decisive so much that the losing side will have little or no substantive grounds for an appeal. IMHO, I would be surprised if she takes the quick and easy option. I am expecting a delay of 1 month plus at the very least but that's more of a hunch than a full blow fact.

P.S. Any delay beyond 2 months will almost certainly bring it close or even beyond our half yearly results (interim).

https://journaltime.org/finance/banking/commercial-banks/the-american-justice-requests-information-so-that-argentina-pays-for-the-debt-in-default-since-2001/

Gtx1,
Couldn't have said it better. Lol.

Hotting up now:

Judge Loretta Preska orders Banco Nacion in New York to deliver documents, emails, account information or any object, to initiate an inspection (Discovery) for the purpose of seizing assets and to pay a judgment to a creditor with bonds in default.

https://twitter.com/SebastianMaril

Oh yes, I nearly forgot!

And a quick £10K paper profit for "Ms Muller" on her recent 10,000 shares purchase.

Not bad for a few days work doing nothing!!! Lol.

See my Sun 09:19 post.

It looks like Mr Market has finally woken up to Burford's true potential. The recent rise in the SP and this possible rerating is well overdue. IMHO, I still think that there's a way to go before the current euphoria pans out - before the SJ decision/update is forthcoming.

True value prior to the SJ is up for debate but again, imho, a few pounds more is not unrealistic at this time. Volume and demand both here and in the USA are looking robust. The Algorithm's seem to be having a party right now. Long may it continue.

And like the Pheonix bird that symbolizes immortality, resurrection and life after death, Burford is now rising from the MW ashes.

SP live 790p.

Yet another vote of confidence:

"Ms Muller purchased 10,000 Shares on the New York Stock Exchange between June 21 and June 23, 2022, at an average price of $8.88 per Share".

That approximately 7.24p per share.

Bargain.

As previously reported here, the dividend was paid into my Halifax account on the morning of 17 June. :-)) The SP at the time was 720.5p. Used the divi to buy more shares when the price dropped a little further.

Things are beginning to hot up now as we await Judge Preska's decision. The NYSE and it's investor's are driving the the SP and the volume upwards on the anticipated SJ outcome. All the charts are looking decent and continue to improve. A "Golden Cross" is clearly in sight in the not too distant future. Any sizeable sells are being absorbed quite nicely by the market without any significant impact to the SP. Minor or moderate buys are having a very positive impact. Generally all the news going forward looks good for Burford. What's not to like right now? Furthermore, I intend topping up on any further dips or bad news.

1hr ago he tweeted:

I do not rule out the possibility that Judge Preska only sends the compensation issue (award) to trial as it is the only topic that requires additional Discovery and generates important discrepancies between both parties on material issues and not on interpretation.

https://twitter.com/SebastianMaril

Now that is interesting!!!

• Summary judgment allows for possible judicial ruling without a trial; related filings will be public.

• If the case is resolved entirely at summary judgment, the losing party has a right of appeal, but if plaintiffs win, the judgment is immediately enforceable unless defendants post a surety bond to secure payment or the court grants a stay.

• If a trial is required, the judge has stipulated it will begin 115 days following announcement of summary judgment decision.

See Page 9 in the link below:
https://www.burfordcapital.com/media/2692/fy-2021-investor-presentation-updated-on-march-31-2022.pdf

Oral Argument

https://en.wikipedia.org/wiki/Oral_argument#:~:text=Oral%20arguments%20are%20spoken%20presentations,party%20in%20the%20legal%20dispute.

Regardless of Judge Preska's SJ decision - which could be 1-3 months away (or even greater!) - and with the possibility of further oral arguments commencing soon, I now ask myself how and when will the judge deliver her judgement?

Obviously her judgement will be price sensitive information so her verdict must be water/air tight up to the point of delivery. Any surges in share prices (before her verdict) would make me very suspicious although some profiteers may well see gain in spreading false rumours and information. Be aware!!!

As for the delivery, will her judgement be delivered through the US judicial system first or will both parties be told of her decision in advance to allow them time to raise RNS's which could then be released to the market to coincide with the court news? If this is so, it would mean more eyes on the prize and in the know beforehand!!!

Next I ask, what time of day will the judge release her verdict? Will the news be released in advance of the LSE opening, during LSE operating hours or even after the LSE has closed when the NYSE is in full swing? Question, questions, question!!!

No doubt from tomorrow, many investors both here and over the pond will be glued to their phones and electronic devices waiting for the news.

Dividend has been paid into my account.
Ker chink.

https://globalarbitrationreview.com/article/burford-wins-enforcement-against-kyrgyzstan

Try this:

https://2001-2009.state.gov/documents/organization/43475.pdf