Burford Statement re YPF Matter
Burford Capital addresses inaccurate media reporting regarding a U.S. Department of Justice (DOJ) court filing in the Petersen and Eton Park matters. The filing only addresses a narrow legal question about judgment enforcement and does not represent DOJ's broader position on the case against Argentina. The DOJ's view suggests that U.S. courts cannot compel Argentina to move property from Argentina to the United States for creditor attachment under New York law, though this remains an unsettled legal issue. The DOJ's opinion is not binding, and further legal proceedings will follow. Burford plans to provide additional updates during their earnings call.
Burford Capital si occupa di notizie imprecise dei media riguardo a un deposito in tribunale del Dipartimento di Giustizia degli Stati Uniti (DOJ) relativo ai casi Petersen ed Eton Park. Il deposito affronta solo una ristretta questione legale riguardante l’esecuzione dei giudizi e non rappresenta la posizione più ampia del DOJ sul caso contro l'Argentina. Il parere del DOJ suggerisce che i tribunali statunitensi non possono costringere l'Argentina a trasferire beni dall'Argentina agli Stati Uniti per il sequestro da parte dei creditori secondo la legge di New York, sebbene questa rimanga una questione legale irrisolta. L'opinione del DOJ non è vincolante e seguiranno ulteriori procedimenti legali. Burford prevede di fornire aggiornamenti aggiuntivi durante la loro conferenza sugli utili.
Burford Capital aborda la información inexacta de los medios sobre un archivo judicial del Departamento de Justicia de EE. UU. (DOJ) en relación con los casos Petersen y Eton Park. El archivo solo trata una pregunta legal muy específica sobre la ejecución de sentencias y no representa la posición más amplia del DOJ en el caso contra Argentina. La opinión del DOJ sugiere que los tribunales de EE. UU. no pueden obligar a Argentina a trasladar bienes de Argentina a Estados Unidos para la ejecución por parte de los acreedores bajo la ley de Nueva York, aunque este sigue siendo un tema legal no resuelto. La opinión del DOJ no es vinculante, y seguirán más procedimientos legales. Burford planea proporcionar actualizaciones adicionales durante su llamada de ganancias.
버포드 캐피탈은 미국 법무부(DOJ)의 법원 제출과 관련하여 피터슨 및 이튼 파크 사건에 대한 부정확한 언론 보도를 다룹니다. 해당 제출은 판결 집행에 관한 좁은 법적 질문만을 다루며, 아르헨티나에 대한 사건에 대한 DOJ의 더 넓은 입장을 나타내지 않습니다. DOJ의 견해는 미국 법원이 아르헨티나로부터 미국으로 채권자 압류를 위해 재산을 이동하도록 강요할 수 없다는 것을 시사하지만, 이는 여전히 해결되지 않은 법적 문제입니다. DOJ의 의견은 구속력이 없으며, 추가적인 법적 절차가 이어질 것입니다. 버포드는 그들의 수익 전화 회의 중에 추가 업데이트를 제공할 계획입니다.
Burford Capital s'attaque aux rapports médiatiques inexacts concernant un dépôt de justice du Département de la Justice des États-Unis (DOJ) dans les affaires Petersen et Eton Park. Ce dépôt ne traite qu'une question légale étroite concernant l'exécution des jugements et ne représente pas la position plus large du DOJ dans l'affaire contre l'Argentine. L'avis du DOJ suggère que les tribunaux américains ne peuvent pas contraindre l'Argentine à déplacer des biens d'Argentine vers les États-Unis pour une saisie par les créanciers selon la loi de New York, bien que cela demeure une question juridique non résolue. L'opinion du DOJ n'est pas contraignante et d'autres procédures légales suivront. Burford prévoit de fournir des mises à jour supplémentaires lors de leur appel sur les résultats.
Burford Capital nimmt Stellung zu ungenauen Medienberichten über eine Gerichtseinreichung des US-Justizministeriums (DOJ) in den Petersen- und Eton Park-Fällen. Die Einreichung befasst sich nur mit einer engen rechtlichen Frage zur Vollstreckung von Urteilen und stellt nicht die umfassendere Position des DOJ im Fall gegen Argentinien dar. Die Auffassung des DOJ legt nahe, dass US-Gerichte Argentinien nicht zwingen können, Eigentum von Argentinien in die Vereinigten Staaten zu transferieren, um Gläubigerbeschlagnahmen nach New Yorker Recht zu ermöglichen, obwohl dies ein ungelöstes rechtliches Problem bleibt. Die Meinung des DOJ ist nicht bindend und es werden weitere rechtliche Verfahren folgen. Burford plant, während ihrer Telefonkonferenz zu den Ergebnissen weitere Updates bereitzustellen.
- DOJ has previously supported pursuing Argentina in US courts for breach of contract
- DOJ did not make any filing on the pending appeal, maintaining status quo
- DOJ's position could potentially limit enforcement options against Argentine assets
- Legal uncertainty regarding the ability to compel Argentina to move assets to US jurisdiction
Insights
The DOJ filing represents a scope intervention focused solely on a technical enforcement question, not a broader challenge to the YPF case merits. The specific issue concerns whether U.S. courts can compel Argentina to move assets from within its borders to the U.S. for attachment by creditors - a complex question of sovereign immunity and international law enforcement.
The DOJ's position, while noteworthy, is not binding on the court and only addresses one motion within the broader enforcement campaign. Importantly, the DOJ has previously supported the legitimacy of pursuing Argentina in U.S. courts over this contract breach and notably abstained from filing on the pending appeal.
This development represents a procedural hurdle rather than a fundamental challenge to the case. The enforcement process typically involves multiple parallel strategies and this affects only one potential avenue while leaving others intact.
For further information, please contact:
Burford Capital Limited | ||
For investor and analyst inquiries: | ||
+1 212 516 5824 | ||
EMEA & | +44 (0)20 3530 2023 | |
For press inquiries: | ||
David Helfenbein, Vice President, Public Relations - email | +1 212 516 5824 | |
Deutsche Numis - NOMAD and Joint Broker | +44 (0)20 7260 1000 | |
Giles Rolls | ||
Charlie Farquhar | ||
Jefferies International Limited - Joint Broker | +44 (0)20 7029 8000 | |
Graham Davidson | ||
James Umbers | ||
Berenberg – Joint Broker | +44 (0)20 3207 7800 | |
Toby Flaux | ||
James Thompson | ||
Yasmina Benchekroun | ||
About Burford Capital
Burford Capital is the leading global finance and asset management firm focused on law. Its businesses include litigation finance 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 it works with companies and law firms around the world from its offices in
For more information, please visit www.burfordcapital.com.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.
This announcement 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 Securities and Exchange Commission. The information provided in this announcement is for informational purposes only. Past performance is not indicative of future results. The information contained in this announcement is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities (including, without limitation, 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 announcement contains "forward-looking statements" within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, regarding assumptions, expectations, projections, intentions and beliefs about future events. These statements are intended as "forward-looking statements". In some cases, predictive, future-tense or forward-looking 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, but are not the exclusive means of identifying such statements. In addition, Burford and its representatives may from time to time make other oral or written statements that are forward-looking, including in its periodic reports that Burford files with, or furnishes to, the US Securities and Exchange Commission, other information made available to Burford's security holders and other written materials. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Burford cautions that forward-looking statements are not guarantees of future performance and are based on numerous assumptions, expectations, projections, intentions and beliefs and that Burford's actual results of operations, including its financial position and liquidity, and the development of the industry in which it operates, may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements contained in this announcement. Significant factors that may cause actual results to differ from those Burford expects include, among others, those discussed under "Risk Factors" in Burford's annual report on Form 20-F for the year ended December 31, 2023 filed with the US Securities and Exchange Commission on March 28, 2024 and other reports or documents that Burford files with, or furnishes to, the US Securities and Exchange Commission from time to time. In addition, even if Burford's results of operations, including its financial position and liquidity, and the development of the industry in which it operates are consistent with the forward-looking statements contained in this announcement, those results of operations or developments may not be indicative of results of operations or developments in subsequent periods.
Except as required by law, Burford undertakes no obligation to update or revise the forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise.
View original content:https://www.prnewswire.com/news-releases/burford-statement-re-ypf-matter-302298761.html
SOURCE Burford Capital
FAQ
What is the DOJ's position on Burford Capital's (BUR) YPF enforcement case?
How does the DOJ filing affect Burford Capital's (BUR) case against Argentina?
Has the DOJ filed anything regarding Burford Capital's (BUR) pending appeal in the YPF case?
