Burford Capital Stock Slides After Court Ruling Strikes $16.1B

A divided panel of the 2nd U.S. Circuit Court of Appeals overturned the $16.1 billion award tied to Argentina's 2012 takeover of state‑owned oil company YPF. In a 2–1 ruling, the court said the breach‑of‑contract claims brought by former YPF shareholders were not valid under Argentine civil codes and public law, effectively wiping out the judgment, Reuters reported.