Bloomberg Law
March 24, 2021, 3:29 PMUpdated: March 24, 2021, 4:58 PM

Burford Posts Cash Haul, Profit Dip as Argentina Case Drags (1)

Roy Strom
Roy Strom

Litigation finance firm Burford Capital Ltd. reported on Wednesday its best-ever year for recoveries from the lawsuits it invests in, but its profits dipped from 2019 as its largest case, a battle over an Argentina oil company, added nothing to the firm’s bottom line for the first time in five years.

The company reported a realization figure—proceeds from concluded litigation investments—of $608 million, up 72% from $354 million in 2019. Total income, though, dipped 1% from a year ago to $353 million, and an after-tax profit figure fell 19% to $172 million.

The company said the pandemic had less of ...

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