Burford Capital issued a follow-up statement on March 30 addressing the financial fallout from the Second Circuit's reversal of the $16.1 billion judgment against Argentina in the long-running YPF nationalization dispute.

As reported by PR Newswire, the litigation funder emphasized that the ruling has no cash impact on its operations, pointing to more than $700 million in cash, cash equivalents, and marketable securities on hand. The company said its diversified portfolio routinely delivers cash proceeds independent of the YPF asset and reaffirmed plans to double its portfolio by 2030 without additional borrowing.

Burford expects a substantial GAAP write-down of the YPF asset as of March 31, with full details to be disclosed in its first-quarter results in the first half of May. Management noted the write-down is a non-cash accounting adjustment that does not affect operational cash flow.

Looking ahead, Burford signaled it may pursue arbitration through the World Bank's International Centre for Settlement of Investment Disputes under bilateral investment treaties. The company argued Argentina breached investment protections during the 2012 expropriation, though it acknowledged any ICSID proceeding would be a multi-year process.

The statement comes days after Burford shares cratered more than 45% following the Second Circuit's March 27 decision, which found Argentina's nationalization of YPF was governed by public law rather than private corporate bylaws, rendering the breach-of-contract claims non-cognizable.

Cadence Minerals has obtained third-party litigation funding to pursue an international arbitration claim against Mexico following the cancellation of its mining concessions during the country's lithium sector nationalization.

As reported by Investing.com via bilaterals.org, LCM Funding SG Pty Ltd has approved financing for the arbitration on a non-recourse basis, meaning Cadence and its subsidiary REM Mexico Limited have no obligation to repay if the claims are unsuccessful. The funding arrangement is designed to allow the company to pursue the case while preserving its balance sheet flexibility.

Cadence and REM Mexico allege that Mexico violated the UK-Mexico bilateral investment treaty by canceling concessions tied to the Sonora Lithium Project. The claims include unlawful expropriation and failure to provide fair and equitable treatment to foreign investors.

CEO Kiran Morzaria said the funding "materially strengthens our ability to pursue the arbitration in an appropriately resourced manner." The company indicated it remains open to negotiated settlement discussions with the Mexican government.

The case highlights the growing role of litigation funding in investor-state dispute settlement, where resource companies increasingly turn to third-party funders to pursue treaty-based claims against sovereign governments over nationalization and regulatory actions.