Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Burford makes 65% gains on positive US court decision in YPF case

AJ Bell is an easy to use, award-winning platform Open an account
We've accounts to suit every investing need, and free guides and special offers to help you get the most from them.
You can get a few handy suggestions, or even get our experts to do the hard work for you – by picking one of our simple investment ideas.
All the resources you need to choose your shares, from market data to the latest investment news and analysis.
Funds offer an easier way to build your portfolio – we’ve got everything you need to choose the right one.
Starting to save for a pension, approaching retirement, or after an explainer on pension jargon? We can help.
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
In a remarkable turn of events, investors in litigation finance firm Burford Capital (BUR:AIM) have seen their shares rocket from a 12-month low to a two-year high in less than two days of trading.
At 4.14pm on 31 March, Burford issued a statement to say the Southern District Court of New York had ruled in favour of its clients in a long-running dispute with the Argentine government.
Burford shares jumped 30% to 754p and added another 200p on 3 April for a two-day gain of 65%.
The firm financed claims by two of its clients, Peterson and Eton Park, that the Argentine government’s forced nationalisation in 2012 of former state-owned oil company YPF breached its 1993 listing agreement, which said YPF wouldn’t be nationalised or, if it was, the government would tender for the shares at a high level.
YPF was listed in Buenos Aires and New York, and the case has been going through the US courts for over a decade.
The decision by the US judge means Burford’s clients could share compensation of between $5 billion and $8.4 billion before interest, according to a press release.
While the company didn’t say how much it expected to earn from backing the case, analyst Julian Roberts at investment bank Jefferies believes it could be close to 40% of any settlement.
These articles are provided by Shares magazine which is published by AJ Bell Media, a part of AJ Bell. Shares is not written by AJ Bell.
Shares is provided for your general information and use and is not a personal recommendation to invest. It is not intended to be relied upon by you in making or not making any investment decisions. The investments referred to in these articles will not be suitable for all investors. If in doubt please seek appropriate independent financial advice.
Investors acting on the information in these articles do so at their own risk and AJ Bell Media and its staff do not accept liability for losses suffered by investors as a result of their investment decisions.
The value of your investments can go down as well as up and you may get back less than you originally invested. We don't offer advice, so it's important you understand the risks, if you're unsure please consult a suitably qualified financial adviser. Tax treatment depends on your individual circumstances and rules may change. Past performance is not a guide to future performance and some investments need to be held for the long term.
Our website uses cookies to give you a better browsing experience.
You can choose to accept all cookies, or control which we use by clicking 'Manage cookies'. To learn more, read our cookie policy.