US Court Ruling Deals $10 Billion Blow to Burford Capital in YPF Case

A recent U.S. court decision has upended what seemed like a lucrative venture for litigation funder Burford Capital in its lawsuit against Argentina over the 2012 renationalization of YPF, the country’s state oil firm. The New York Court of Appeals ruled 2-1 in favor of Argentina last month, derailing Burford’s claim to a multi-billion-dollar payout and sending its shares plummeting by 50 percent on the New York Stock Exchange. The fund had initially invested $15 million in the case, expecting a