Member Info for Renegade

End of year dividend due on 17 Jun 2022 (Friday).

And.....

The global retail shareholder call on Thursday, June 16, 2022, at 9.00am EDT / 2.00pm BST / 3.00pm CEST with Christopher Bogart, Chief Executive Officer, to discuss Burford's results for the year ended December 31, 2021 and other prior disclosures, as well as answer shareholder questions.

Yummy.

Probably bounced off the SMA (13) too. A positive sign?

SP dropped to 711.51p this morning. That's the gap filled between the 01 to 06 June 2022. Hopefully (fingers crossed) it's onwards and upwards from here???

Many have asked me about the timing behind Judge Loretta Preska’s ruling on the YPF Expropriation case. - Let's take a look at the history of this case and the two rulings that the Judge has published since April 2015.

The case began in April 2015 and saw its first ruling on September 9, 2016. - On that occasion, the Judge rejected the request of Argentina and YPF to dismiss the lawsuit on several grounds, including Lack of Jurisdiction. - Argentina and YPF appealed.

The Judge's ruling took 51 days (9 Sep 16) from the last presentation/hearing where the parties presented arguments. - Subsequently, the case went to the Court of Appeals and later to the Supreme Court. - It did not return to Judge Preska until June 2019.

On this occasion, Arg and YPF again tried to dismiss the case, this time on the grounds of Forum of Non Convenience. - The Judge's ruling took 119 days (5 Jun 20) from the last presentation/hearing where the parties presented arguments.

The first ruling (51 days) was 42 pages long. - The second ruling (119 days) was 41 pages long. The first ruling was more complex than the second to decide.

Finally, the last Summary Judgement motions are due 6/23/22. - The Judge knows the details of the case perfectly and should not take more than 30 days to decide - But if history repeats itself, it will be a long summer (or winter) and the ruling will take time to arrive.

Thanks for the heads up Sammy88.

Should Argentina loose the case and choose to deploy further delaying tactics (and, before any damages are awarded by Judge Preska), I'm pretty sure that she will take into account Professor Fischel's "Estimated Damages Scenarios" (6% to 9%) with regard to any future delays. In essence, she may decide to incur additional costs based on any future delays (and payment) under the previous YPF’s Bylaws Formulae and the NYSE rules.

Either way it's a win, win scenario for Burford. More delays equals more damages. Ker chink!

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 - 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".

Some light reading for you!!!

https://www.pacermonitor.com/public/case/7977221/Petersen_Energia_Inversora,_SAU_et_al_v_Argentine_Republic_et_al

Another confidence booster.

Christopher Halmy (non-executive director) purchased 12,500 Shares on the New York Stock Exchange at $8.10 per Share.

Burford Capital : COMPLETED PURCHASES OF ORDINARY SHARES FOR BURFORD EMPLOYEE DEFERRED COMPENSATION PLAN - Form 6-K.

https://www.marketscreener.com/quote/stock/BURFORD-CAPITAL-LIMITED-5668352/news/Burford-Capital-COMPLETED-PURCHASES-OF-ORDINARY-SHARES-FOR-BURFORD-EMPLOYEE-DEFERRED-COMPENSATION-40544657/

https://www.pacermonitor.com/public/case/7977221/Petersen_Energia_Inversora,_SAU_et_al_v_Argentine_Republic_et_al

The appearance of Sol Czerwonko on behalf of YPF S.A.

Sol Czerwonko is a litigation associate in the firm’s New York office who focuses her practice on international arbitration and litigation. She is a member of the firm’s International Dispute Resolution and Latin America Practice Groups.

https://www.debevoise.com/solczerwonko?tab=biography

and

https://ar.linkedin.com/in/sol-czerwonko-259a0879

23 May 2022:
On Thursday we will have news in the case for the expropriation of YPF in the US - The State, YPF and Burford (Petersen/Eton), will respond to the final arguments presented on April 14. - The last writings are scheduled for 6/23. - The ruling, as of that date.

One of his followers questions was:
Good morning Sebastian. Once the briefs have been submitted, can the resolution time be estimated? 1 week? 1 month? 1 year?

Sebastian's answer:
The ruling can fall any day starting June 24 (there may be a hearing sooner). - I don't think Judge Preska will take more than a month to publish it.

Seb's been pretty much spot on so far. Make of it what you will!

BBH, hope you've not booked your hotel yet? AGM is Wednesday!

The 2022 annual general meeting of Burford Capital will be held at 9.00am BST on May 18, 2022 at Oak House, Hirzel Street, St. Peter Port, Guernsey GY1 2NP.

Re todays RNS,

So (by my reckoning), with approximately 240K shares bought to date, only another 360K shares to go. Likely closure before the AGM???

https://www.lse.co.uk/rns/BUR/intended-purchases-of-ordinary-shares-82r66544s1zwncl.html

European power cable groups face UK class action over cartel.

The case, which is being funded by Burford Capital, has been filed with the Competition Appeal Tribunal (CAT), a specialist London court.........

https://uk.investing.com/news/stock-market-news/european-power-cable-groups-face-uk-class-action-over-cartel-2645958

Worthy of note is that MarketWatch reported the short interest some 12 days or so after the event. Yesterday afternoon/evening Nasdaq was quite busy with quite a few major trades (buying) going through - total volume 400.82K. Accordingly, all may not be as it would seem right now. Ex-dividend day coming up in two weeks time so US investors may now be seeing the forecasted 6.25 US cents divi looming closer in the not too distant headlights.

MarketWatch is now reporting that:

Short Interest in USA has gone up from 672.71K shares on 04/14/22 to 796.71K shares on 04/29/22.

This may account for some of the SP fluctuations?

Albeit ..... Argentina's investment anxiety/problems won't be cured if they don't pay a USA court award.

Q. So what would a sensible and responsible government do that was concerned about the prosperity of their people and their bleak and dwindling economy going forward?

Short Interest in USA gone down from 737.71K on 31/03/22 to 672.71K on 14/04/22.

Only just reported.

After the Summary Judgement is filed (scheduled for today), there will be a delay of up to 6 weeks until the Summary Judgement Responses are due (26 May). It may well be that we go into silent running mode for here on?

Of some interest is that the Short Interest in the USA (MarketWatch) was reduced to
737.71K shares on 31 March 2022 (previously 812.09K ). I can't see it reported on here - or I may have missed it - either way it's worthy of note going forward.