US Appeals Court Reverses Multi-Billion Dollar Ruling for Burford Capital Against Argentina

The US Court of Appeals for the Second Circuit has reversed a lower court's judgment that previously favored Burford Capital-backed entities, Petersen and Eton Park. This decision marks a significant setback for Burford Capital in its long-standing multi-billion dollar litigation against the Republic of Argentina and state oil company YPF regarding the 2012 nationalization of the firm. The ruling was delivered by a majority of a three-judge panel, with Judge Cabranes dissenting and stating he would have affirmed the original judgment. This legal reversal is expected to weigh heavily on Burford Capital’s stock price as it diminishes the immediate prospects of a massive financial recovery. Conversely, the ruling provides a potential reprieve for Argentina’s sovereign fiscal outlook and its international legal liabilities. Investors are now closely monitoring the market reaction for both BUR and YPF shares following this unexpected judicial turn.

Sources:prnewswire.comft.comkavout.comworldoil.combatimes.com.arca.investing.commarketscreener.combarchart.comstreetinsider.comprnewswire.cominvestors.burfordcapital.combenzinga.comupi.com