Shares in the world’s biggest litigation funder surged yesterday after a judge ruled in its favour in a $16 billion dispute over an energy company nationalised by the government of Argentina.
The ruling in New York could pave the way for a multibillion-dollar payout for Burford Capital, which funded litigation brought by minority shareholders of YPF SA, Argentina’s biggest oil producer, which was nationalised more than a decade ago.
Shares in Burford rose 247p, or 22.5 per cent, to close at £13.43. In a statement to the market, Burford said it was preparing a “further announcement . . . after review and analysis of the decision”. Its shares, which are listed on London’s junior Aim market, were suspended pending the announcement.
According to court papers,
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