{"id":129292,"date":"2019-08-12T01:20:21","date_gmt":"2019-08-12T01:20:21","guid":{"rendered":"https:\/\/www.bnreport.com\/window-slams-shut-on-litigation-funder-floats-after-burford-capitals-terrible-week\/"},"modified":"2019-08-12T01:20:21","modified_gmt":"2019-08-12T01:20:21","slug":"window-slams-shut-on-litigation-funder-floats-after-burford-capitals-terrible-week","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/window-slams-shut-on-litigation-funder-floats-after-burford-capitals-terrible-week\/","title":{"rendered":"Window slams shut on litigation funder floats after Burford Capitals terrible week"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.cityam.com\/assets\/uploads\/main-image\/full_width_article_body_image\/2014\/08\/london-stock-exchange-57ff723b8ab0e-57ff723ba1a3b.jpg\"\/><\/p>\n<p>The attack by shortseller Muddy Waters on Burford Capital last week has slammed shut the window on other litigation funders looking to go public.<\/p>\n<p>Muddy Waters criticised Burfords use of fair value accounting \u2013 the inclusion of unrealised gains \u2013 and accused the funder of \u201caggressively marking\u201d the value of the cases on its books, something Burford denied.<\/p>\n<p>The Aim darling-turned-lame-duck lost nearly half its value on Wednesday before recovering some ground after it fired back at the shortseller.<\/p>\n<p>With fellow shortseller Gotham City Research lining up to take a shot at Burford and a swarm of claimant law firms readying shareholder class action lawsuits, Burford faces a struggle to convince the market of its bona fides.<\/p>\n<p><strong>Read more:<\/strong> <a href=\"https:\/\/www.cityam.com\/burford-blasts-muddy-waters-report-as-baseless\/\" rel=\"noreferrer noopener\" target=\"_blank\">Burford Capital share price surges as it blasts shortseller Muddy Waters<\/a><\/p>\n<p>The affair has smashed confidence in what looked set to be a growing listed sector.<\/p>\n<p>Two litigation funders \u2013 Manolete Partners and Litigation Capital Management (LCM) \u2013 listed in London late last year, but they are unlikely to be joined by any of their peers any time soon.<\/p>\n<p>Augusta \u2013 which describes itself as the largest litigation funder in the UK by number of cases \u2013 is understood to have recently examined a London listing.<\/p>\n<p>Vannin Capital announced its intention to float last September, before pulling its offering, blaming a volatile market.<\/p>\n<p>Vannin said it was pausing until conditions improve. However, its failed float is a case study of the problems litigation funders face on the public markets.<\/p>\n<p>Firstly, the firm delayed the publication of its prospectus after telling investors it expected to lose several million pounds in a case it is funding against Costa Rica, highlighting the unpredictable nature of litigation.<\/p>\n<p><strong>Read more:<\/strong> <a href=\"https:\/\/www.cityam.com\/listed-litigation-funders-scramble-to-avoid-burford-contagion\/\" rel=\"noreferrer noopener\" target=\"_blank\">Listed litigation funders scramble to avoid Burford contagion<\/a><\/p>\n<p>Secondly, in its<a href=\"https:\/\/www.cityam.com\/window-slams-shut-on-litigation-funder-floats-after-burford-capitals-terrible-week\/\" rel=\"noreferrer noopener\" target=\"_blank\"><strong>Read More<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The attack by shortseller Muddy Waters on Burford Capital la..<\/p>\n","protected":false},"author":1,"featured_media":129293,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-129292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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