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Absolutely FFC, they will eventually settle. When they settled Repsol 5B, the Spanish government put a full embargo in place - they needed imports from Spain more.
Not many companies have a highly skilled, experienced and primed enforcement team in-house, ready to act immediately. No other company in the world is in a better position than Burford, to collect this dept.
Will it go sub £11 is the question :D
Argies are not paying, burford need to find some assets for leverage.
They are not fully US listed, so they don't have to adhere to the 45 day rule.
Usually March we see the results. (last year was the exception of course, was delayed due to SEC)
Thanks Brigia! Very interesting indeed.
£11.50 looks cheap. Looking add soon :D
*President Javier Milei (Not Mr Maril) I just read most of this from this X account, like us all.
My Maril, has been brilliant at keeping us updated.
Remember - 'actions speak louder than words'. Especially with Argentina.
Let’s look at the facts/actions, thus far this new government -
New Argie government tried to immediately delay a further 90 days, after initial 30 days provided.
Have asked for 30-day extension to appeals court, to provide a detailed statement (Intent to appeal)
Mr Maril - has no power to settle this, he needs senate approval, unfortunately they very much dislike him and his new policies (as he has been calling them out) he also has no control of the senate, being the minority party.
The defence lawyers (our lawyers) have seen no actions or positive discussions and have said they are 'Convinced' they will need to start the very difficult task of seizing assets.
So GT, Mr Maril may have said - we want to settle this. But this is not going to happen anytime soon I feel.
I will still add soon, in case I'm wrong (which I hope I am) but let’s not be deluded to the facts, with all due respect. They can't raise 16B overnight, no one is going to lend them it. If they do it will take many months, highest likelihood is the IMF providing additional support.
Putting YPF aside, there is still HUGE upside here in the coming years with all the other 'pillars' Mr Bogarts has discussed many times, to provide value to shareholders. But will take time still.
I sold £12.30. From buy in £10.50. Banked profit.
Buy back in prior to 10th & FY Results. Which I believe will show 80% increase on 2022. (Which was not a great year)
So 80% increase will mean more to some than others. Revenues still mainly coming from fictional gains of cases progressing.
Looks like Burfords lawyers don’t believe them either, looking at the letter they published today to Preska.
Mr Maril, kind re posted it just now.
Also new Argie government, seem to be fighting or ‘playing’ two front, asking appeals court for extension and saying we will pay but have no money or power todo so.
I’m not convinced.
I guess the Argentine Senate approved the 5 Billion Bond they took out to pay Repsol off? But the Spanish government did get involved and threatened to band all exports to/from Argentina, which made they pay rather swiftly.
Very interesting, thanks stocksaint.
Never would have found that article.
Looks similar value to YPF, Burford have invested a lot in this case and it has attracted media attention with client trying to settle early for a low ball with its suppliers; in which Burford prevented, to get better value for us. . Does anyone know the timings of the case? What’s next …
Think we need to draw our attention to this, as settlement does not look like such an issue if won, unlike YPF.
As it’s not a bankruptcy case, it’s not public. Believe this bombshell could drop in 2024.
I agree Rider, Milei needs to get any idea through the senate, which he’s the minority party. I think it’s all talk to show they want to, but hands are very tied unfortunately.
Very interesting trading conditions.
It needs to go up gradually or shares will just get suspended.
Reporter: “How are you going to pay the YPF Judgment?”
President Milei: With a Perpetual Bond funded with a “Kicillof Tax”.
"Argentina will comply with its commitments and will always respect its contracts, and will always respect the decision of justice in all order and under all circumstances, that's why we are analyzing the paths," the presidential spokesman said at the usual press conference.
"Argentina is going to fulfill its commitments," Adorni said about the trial by YPF
Mr Maril latest post -
Beneficiaries of the YPF judgment should take this development as encouraging.
'La Argentina va a cumplir con sus compromisos', dijo Adorni sobre el juicio por YPF
https://www.telam.com.ar/notas/202312/650343-estatizacion-ypf-argentina-compromisos-adorni.html
It’s reads they don’t want to, rather than they can’t.
Not sure how the Judge will take this, looks like they are crying mercy, while still sitting on the asset they stole.
The peso and calculations is total bull. One mind writing an article always worries me. Flawed.