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(Sharecast News) - Burford Capital said on Friday that an International Court of Arbitration tribunal had awarded more than $600m in favour of one of its counterparties in a Cameroon mining dispute.
If the award were paid in full today, Burford said it would be entitled to more than AUD 250m, with the entire return accruing to its balance sheet rather than its investment funds.
The AIM-traded litigation finance group cautioned that the award did not represent cash proceeds and remained subject to litigation, enforcement and collection risks, including potential annulment or settlement.
Burford said any eventual recovery could be materially lower than the face value of the award, or it could ultimately recover nothing.
At 1137 BST, shares in Burford Capital were up 4.77% at 316p.
Reporting by Josh White for Sharecast.com.
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