|
Burford Capital Ltd on Tuesday said the US budget reconciliation bill known as ‘One Big Beautiful Bill’ makes no reference to litigation finance. The litigation finance provider with offices in London and New York said the US Senate released its version of the proposed text of tax-related provisions late on Monday. ‘The House version of the bill as passed makes no reference to litigation finance, while the Senate draft version includes a provision that aims to increase the statutory tax rate on litigation finance transactions. The provision’s language is not sufficiently precise to enable Burford to assess its potential impact were it to be enacted in its current form, which would then need further interpretation from the US Internal Revenue Service,’ Burford Capital highlighted. The company cautioned: ‘We are hopeful, as this labyrinthine process continues, that the US Congress will not set back the business growth and innovation that is fostered by the availability of our capital by making it more expensive for businesses to secure litigation financing.’ Burford shares fell 3.0% to 902.00 pence each on Tuesday morning in London, giving it a market capitalisation of £1.98 billion. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
