Burford Capital requires investors to take a lot on faith. Those willing to stick with the litigation finance specialist through a bruising four years received the best indication yet that the pain might be worth it, after a ruling in its favour.
The $16 billion dispute over an oil company nationalised by Argentina should result in a multibillion- payout for Burford, which funded litigation brought by minority shareholders of YPF SA, the country’s biggest oil producer.
Caveats are plentiful. The judge has yet to issue a formal money judgment, says Chris Bogart, the chief executive, and the amount eventually recovered may fall short of the full award. There is also the matter of appeals and the process of collecting the cash. But the risk attached
