The gain from the lawsuit payout is around twice the company's market capitalization, according to Jefferies.
Shares of litigation financing company Burford Capital jumped 20% last week after a U.S. judge ruled that Argentina must pay about $16 billion to minority shareholders of an energy company that was nationalized in 2012. The payout is expected to be a significant win for Burford Capital , which funded the lawsuit brought by YPF's minority shareholders, Petersen Energia Inversora and Eton Park Capital Management. Investment bank Jefferies estimates Burford Capital is entitled to around $6.
District Judge Loretta Preska ruled Argentina breached its obligations to YPF minority shareholders by seizing a 51% stake in the company from Repsol without tendering for the remaining shares. The $16 billion payout includes around $8.4 billion in damages plus about $7.6 billion in 8% pre-judgment interest since the April 2012 seizure date determined by the judge.
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