Hardman & Co Research
Hardman & Co Research: Positive progress on Petersen
The Petersen case relates to ownership of a 25% stake in YPF, which was expropriated by the Argentinian government. Petersen subsequently went into administration, and a claim was initiated for compensation for the loss incurred by the expropriation. Having started in 2015, this is a lengthy process. A trial court decision that the claims could be heard in the United States federal courts was appealed by Argentina last year. On 10 July, over one year after the appeal was argued, the US Second Circuit Court of Appeals affirmed that decision. The next step is for the substantive proceedings to recommence in the trial court. This decision came too late for the interim results as of 30 June, and Burford will consider the impact, if any, in the year-end valuation process.
Please click here for the full report:
Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.
About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.
Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259.
Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.