Burford Capital is backing a claim by Union Investment, Germany’s third largest asset manager, in the Wirecard insolvency proceedings. Union, a Wirecard shareholder, is seeking to have its equity claim elevated to the same level as other creditor claims so that it can participate in a distribution of recoveries. Read more.
Burford has shared that it is modifying its fair value approach following a six-month review by the US Securities and Exchange Commission (SEC) into how Burford values its legal finance assets.
Sysco has sued affiliates of Burford for allegedly meddling in the food distributor’s efforts to settle several major antitrust cases in which it’s a plaintiff, while Burford argues that Sysco has breached the funding agreement by assigning some of the claims, giving Burford the right to veto the settlements.
David Perla of Burford comments on the US GAO Legal Finance Report and responds specifically to fabricated attacks against the legal finance industry as a so-called “national security threat”.
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