In the legal showdown between Sundance Resources and the Republic of Congo at the ICC, Congo started talks that ended with a hush-hush settlement. The initial claim was a whopping 8.5 billion, but they're keeping tight-lipped on the actual agreed amount. Burford Capital, who is the litigation funder for Sundance, saw their stock shoot up 3.6% today, adding about AUD 140 million to their value. It's all speculative for now, though -- Burford shareholders are left guessing about the return on their Sundance investment. "Without more detail, the potential benefit for Burford is impossible to quantify", a market expert noted. Could be a big win, but they'll have to wait and see!
Time will tell if The Congo sticks to this conditional settlement. Good news for AVZ followers, though -- it shows litigation pressure can bring parties to the table.
Could Nigel be eyeing a strategy like this with the DRC?
AVZ Buyback Offer, page-25
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