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 ...