Watching Burford Capital; Traders Circulate Jefferies Note Saying 'Sundance Resources Has Announced A Conditional Settlement With The Republic Of Congo. The Settlement Would Bring To An End A Dispute Before The ICA, Expected To Be Final By The End Of Q3; Terms Are Confidential, But We Believe The Original Claim To Be For Over $8.5B. Burford Has Been Funding The Arbitration Process And This Would Likely Lead To A Realized Gain On Its Investment'
Portfolio Pulse from Benzinga Newsdesk
Burford Capital is expected to realize a gain from its investment in the arbitration process involving Sundance Resources and the Republic of Congo. A conditional settlement has been announced, potentially ending the dispute by the end of Q3. The original claim was over $8.5 billion.
July 02, 2024 | 7:45 pm
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Burford Capital is likely to see a realized gain from its investment in the arbitration process involving Sundance Resources and the Republic of Congo. A conditional settlement has been announced, which could finalize by the end of Q3.
The announcement of a conditional settlement in the arbitration process funded by Burford Capital suggests a likely positive financial outcome for the company. Given the original claim was over $8.5 billion, the settlement could result in a significant realized gain, positively impacting Burford's revenues and stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100