Core Insights - Burford Capital Limited has provided updates on two significant developments regarding litigation finance and enforcement actions against Argentina [1] Group 1: US Budget Reconciliation Bill - The Senate Parliamentarian ruled that proposed tax provisions related to litigation finance are not eligible for inclusion in the US Senate's draft of the budget reconciliation bill [2] Group 2: YPF Turnover Decision - The U.S. District Court for the Southern District of New York ordered Argentina to transfer its Class D shares of YPF, which represent approximately 51% of YPF's outstanding shares, to a global custody account at Bank of New York Mellon within 14 days [3] - The Court also instructed that these shares be transferred to Petersen and Eton Park within one business day [3] - This development is viewed positively in the context of the enforcement campaign against Argentina, although further judicial proceedings may occur [4] Group 3: Company Overview - Burford Capital is a leading global finance and asset management firm focused on law, involved in litigation finance, risk management, asset recovery, and various legal finance and advisory activities [5]
Update Re US Budget Reconciliation Bill and YPF Turnover Decision