Burford Capital Awarded Over $600 Million in ICC Arbitration

Burford Capital Limited, a global finance and asset management firm focused on the legal sector, reported that an International Chamber of Commerce (ICC) arbitration tribunal has issued an award exceeding US$600 million in favor of one of Burford's counterparties.

The company stated that if the award were paid in full, Burford's entitlement would be over AUD $250 million. This entire return would accrue to Burford's balance sheet, with no participation from its investment funds. Burford issued this statement in anticipation of a public announcement from its counterparty.

Burford emphasized that the issuance of the award does not represent cash proceeds received. The case remains subject to significant litigation and collection risks, including potential annulment, set-aside proceedings, and enforcement actions in other jurisdictions. The ultimate outcome is uncertain, and any recovery could be substantially less than the award amount or, in certain circumstances, result in a total loss.

Burford's final entitlement will also depend on its financing agreement terms, fees, expenses, and taxes. The company will not comment on potential settlement discussions until they conclude. Burford is publicly traded on the New York Stock Exchange and the London Stock Exchange.