24 Jun 2019
Sale of 10% of Petersen entitlement yields $100 million at an implied $1 billion valuation
24 June 2019 – Burford Capital Limited (“Burford Capital” or “Burford” or “the Company”), the leading global finance and investment management firm focused on law, announces that the US Supreme Court has declined to hear Argentina’s and YPF’s appeals in the Petersen case, with the result that the lower court decisions finding jurisdiction for Petersen’s claims in the US are now final. The Petersen case will now return to the trial court for merits proceedings. This continues an unbroken string of victories for the Petersen case in the courts. While we are pleased with this decision, it is important to emphasise that this decision relates purely to a preliminary jurisdictional question and does not foreshadow any particular result in the underlying litigation.