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Shares in Burford Capital Ltd jumped on Tuesday after a favourable legal ruling and as a proposed tax provision was ruled ineligible in the US. Shares in the litigation finance provider with offices in London and New York jumped 18% to 1,005.00 pence each in London on Tuesday after what the firm called ‘two significant developments’. First, Burford said the US Senate Parliamentarian on Monday ruled that proposed tax provisions relating to litigation finance are not eligible for inclusion in the budget reconciliation bill. Also Monday, Burford noted the US District Court for the Southern District of New York ordered Argentina to transfer its class D shares in energy company YPF SA, around 51% of YPF’s outstanding shares, to a global custody account at Bank of New York Mellon Corp within 14 days and to instruct BNYM to transfer those shares to Petersen Energia Inversora SA and Eton Park Capital Management LP within one business day. Petersen and Eton Park are plaintiffs represented by Burford. The claims related to Argentine government-controlled energy company YPF, of which a majority of 51% was renationalised in 2012 after having conducted an initial public offering. ‘While this is a positive development in the enforcement campaign against Argentina, it is entirely possible that it will be the subject of further judicial proceedings,’ Burford said in a statement. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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