Update Re US Budget Reconciliation Bill and YPF Turnover Decision
Burford Capital (BUR), a global finance and asset management firm focused on law, has announced two significant developments. First, the Senate Parliamentarian ruled that proposed tax provisions relating to litigation finance in the US Senate's draft budget reconciliation bill are not eligible for inclusion.
Second, in the Petersen and Eton Park matters, the U.S. District Court for the Southern District of New York has ordered Argentina to transfer its Class D shares of YPF (approximately 51% of outstanding shares) to a Bank of New York Mellon custody account within 14 days. These shares are to be transferred to Petersen and Eton Park within one business day thereafter. While this represents a positive step in the enforcement campaign against Argentina, Burford notes that further judicial proceedings may follow.
Burford Capital (BUR), una societ脿 globale di finanza e gestione patrimoniale specializzata nel settore legale, ha annunciato due sviluppi importanti. In primo luogo, il Parlamentare del Senato ha stabilito che le disposizioni fiscali proposte relative al finanziamento del contenzioso nel disegno di legge di conciliazione del bilancio del Senato degli Stati Uniti non sono ammissibili per l'inclusione.
In secondo luogo, nei casi Petersen ed Eton Park, il Tribunale Distrettuale degli Stati Uniti per il Distretto Sud di New York ha ordinato all'Argentina di trasferire le sue azioni di classe D di YPF (circa il 51% delle azioni in circolazione) su un conto di custodia presso la Bank of New York Mellon entro 14 giorni. Queste azioni devono essere trasferite a Petersen ed Eton Park entro un giorno lavorativo successivo. Pur rappresentando un passo positivo nella campagna di esecuzione contro l'Argentina, Burford sottolinea che potrebbero seguire ulteriori procedimenti giudiziari.
Burford Capital (BUR), una firma global de finanzas y gesti贸n de activos enfocada en el 谩mbito legal, ha anunciado dos desarrollos importantes. Primero, el parlamentario del Senado dictamin贸 que las disposiciones fiscales propuestas relacionadas con la financiaci贸n de litigios en el proyecto de ley de conciliaci贸n presupuestaria del Senado de EE.UU. no son elegibles para su inclusi贸n.
En segundo lugar, en los casos Petersen y Eton Park, el Tribunal de Distrito de los Estados Unidos para el Distrito Sur de Nueva York orden贸 a Argentina transferir sus acciones Clase D de YPF (aproximadamente el 51% de las acciones en circulaci贸n) a una cuenta de custodia en el Bank of New York Mellon dentro de 14 d铆as. Estas acciones deben ser transferidas a Petersen y Eton Park dentro de un d铆a h谩bil despu茅s de eso. Aunque esto representa un paso positivo en la campa帽a de ejecuci贸n contra Argentina, Burford se帽ala que podr铆an seguir procedimientos judiciales adicionales.
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霊橃Ц, Petersen 氚� Eton Park 靷贝瓿� 甏�霠晿鞐� 雺挫殨 雮秬 歆�氚╇矔鞗愳潃 鞎勲ゴ項嫲雮橃棎瓴� YPF鞚� 韥措灅鞀� D 欤检嫕(氚滍枆 欤检嫕鞚� 鞎� 51%)鞚� 14鞚� 鞚措偞鞐� Bank of New York Mellon鞚� 靾橅儊 瓿勳搿� 鞚挫爠頃� 瓴冹潉 氇呺牴頄堨姷雼堧嫟. 鞚� 欤检嫕霌れ潃 鞚错泟 鞓侅梾鞚� 旮办 1鞚� 鞚措偞鞐� Petersen瓿� Eton Park鞐� 鞚挫爠霅橃柎鞎� 頃╇媹雼�. 鞚措姅 鞎勲ゴ項嫲雮橃棎 雽�頃� 歆戫枆 旌犿帢鞚胳棎靹� 旮嶌爼鞝侅澑 歆勳爠鞚挫毵�, Burford電� 於旉皜鞝侅澑 靷矔 鞝堨皑臧� 鞚挫柎歆� 靾� 鞛堨潓鞚� 欤茧頃╇媹雼�.
Burford Capital (BUR), une soci茅t茅 mondiale de finance et de gestion d'actifs sp茅cialis茅e dans le domaine juridique, a annonc茅 deux d茅veloppements importants. Premi猫rement, le parlementaire du S茅nat a statu茅 que les dispositions fiscales propos茅es relatives au financement des litiges dans le projet de loi de r茅conciliation budg茅taire du S茅nat am茅ricain ne sont pas 茅ligibles 脿 l'inclusion.
Deuxi猫mement, dans les affaires Petersen et Eton Park, le tribunal de district des 脡tats-Unis pour le district sud de New York a ordonn茅 脿 l'Argentine de transf茅rer ses actions de classe D de YPF (environ 51 % des actions en circulation) sur un compte de garde 脿 la Bank of New York Mellon dans un d茅lai de 14 jours. Ces actions doivent ensuite 锚tre transf茅r茅es 脿 Petersen et Eton Park dans un d茅lai d'un jour ouvrable. Bien que cela constitue une avanc茅e positive dans la campagne d'ex茅cution contre l'Argentine, Burford souligne que d'autres proc茅dures judiciaires pourraient suivre.
Burford Capital (BUR), ein globales Finanz- und Verm枚gensverwaltungsunternehmen mit Schwerpunkt auf dem Rechtsbereich, hat zwei bedeutende Entwicklungen bekannt gegeben. Erstens entschied der Parlamentsjurist des Senats, dass vorgeschlagene Steuerbestimmungen im Zusammenhang mit Prozessfinanzierung im Entwurf des Haushaltsvers枚hnungsgesetzes des US-Senats nicht aufgenommen werden d眉rfen.
Zweitens hat das US-Bezirksgericht f眉r den s眉dlichen Bezirk von New York im Fall Petersen und Eton Park Argentinien angewiesen, seine Klasse-D-Aktien von YPF (etwa 51 % der ausstehenden Aktien) innerhalb von 14 Tagen auf ein Verwahrungskonto bei der Bank of New York Mellon zu 眉bertragen. Diese Aktien sollen innerhalb eines Werktages danach an Petersen und Eton Park weitergeleitet werden. Dies stellt einen positiven Schritt in der Vollstreckungskampagne gegen Argentinien dar, jedoch weist Burford darauf hin, dass weitere gerichtliche Verfahren folgen k枚nnten.
- Court ordered Argentina to transfer 51% of YPF shares to custody account for enforcement
- Removal of proposed litigation finance tax provisions from budget reconciliation bill
- Potential for further judicial proceedings may delay YPF share transfer enforcement
US Budget Reconciliation Bill
With reference to Burford's prior June 17 and June 30, 2025 statements in connection with proposed tax provisions relating to litigation finance included within the US Senate's draft of the budget reconciliation bill:
The Senate Parliamentarian ruled that those provisions are not eligible for inclusion in the bill.
YPF Turnover Decision
With reference to Burford's prior November 7, 2024 statement concerning a motion made in the
The Court ordered
While this is a positive development in the enforcement campaign against
About Burford Capital
Burford Capital is the leading global finance and asset management firm focused on law. Its businesses include and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the New York Stock Exchange (NYSE: BUR) and the London Stock Exchange (LSE: BUR) and works with companies and law firms around the world from its global network of offices.
For more information, please visit .
This press release does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.
This press release does not constitute an offer of any Burford private fund. Burford Capital Investment Management LLC, which acts as the fund manager of all Burford private funds, is registered as an investment adviser with the US聽Securities and Exchange Commission. The information provided in this press release is for informational purposes only. Past performance is not indicative of future results. The information contained in this press release is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including interests or shares in any of Burford private funds). Any such offer or solicitation may be made only by means of a final confidential private placement memorandum and other offering documents.
Forward-looking statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor provided for under these sections. In some cases, words such as "aim", "anticipate", "believe", "continue", "could", "estimate", "expect", "forecast", "guidance", "intend", "may", "plan", "potential", "predict", "projected", "should" or "will", or the negative of such terms or other comparable terminology, are intended to identify forward-looking statements. Although Buford believes that the assumptions, expectations, projections, intentions and beliefs about future results and events reflected in forward-looking statements have a reasonable basis and are expressed in good faith, forward-looking statements involve known and unknown risks, uncertainties and other factors, which could cause Burford's actual results and events to differ materially from (and be more negative than) future results and events expressed, projected or implied by these forward-looking statements. Factors that might cause future results and events to differ include, among others, those discussed in the "Risk Factors" section of Burford's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the US Securities and Exchange Commission on March 3, 2025. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements contained in the periodic and current reports that Burford files with or furnishes to the US Securities and Exchange Commission. Many of these factors are beyond Burford's ability to control or predict, and new factors emerge from time to time. Furthermore, Burford cannot assess the impact of each such factor on its business or the extent to which any factor or combination of factors may cause actual results and events to be materially different from those contained in any forward-looking statement. Given these uncertainties, readers are cautioned not to place undue reliance on Burford's forward-looking statements.
All subsequent written and oral forward-looking statements attributable to Burford or to persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Burford undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Burford Capital Limited
FAQ
What did the US Court order regarding Argentina's YPF shares in the Burford Capital (BUR) case?
What was the Senate Parliamentarian's ruling on litigation finance provisions affecting Burford Capital (BUR)?
How much of YPF's shares is Argentina required to transfer in the Burford Capital (BUR) enforcement case?
What potential challenges remain in Burford Capital's (BUR) YPF share enforcement process?
