Burford Capital Ltd.’s big bet on a lawsuit over an Argentina oil company took a major step forward on Friday.
A federal court in New York mostly sided with former YPF SA shareholders, backed by Burford, who are suing Argentina. The court ruled that the country is liable for losses suffered by the 2012 nationalization of the oil company.
Burford has financed the shareholders’ lawsuit, arguing the legal claims are worth more than $7.5 billion before prejudgment interest. The litigation funder says it has already made more than three times its initial investment in the case, after previously selling claims ...
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