The Group has announced the dismissal of an annulment application against the Teinver case by the World Bank arbitration panel, meaning the put option on this case has now expired and it can recognise the full income for the 2018 sale. Not only does this remove the risk of reversal of previous income, further details in the announcement shows the conservatism in the FV marking of this case. We re-iterate our Buy rating.
30 May 2019
Positive Teinver annulment dismissal
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Positive Teinver annulment dismissal
Burford Capital Limited (BUR:LON) | 1,173 -199.4 (-1.4%) | Mkt Cap: 2,571m
- Published:
30 May 2019 -
Author:
Michael White -
Pages:
2
The Group has announced the dismissal of an annulment application against the Teinver case by the World Bank arbitration panel, meaning the put option on this case has now expired and it can recognise the full income for the 2018 sale. Not only does this remove the risk of reversal of previous income, further details in the announcement shows the conservatism in the FV marking of this case. We re-iterate our Buy rating.