Firm funding £453m oligarch divorce case sinks in to red: Burford Capital warns it will swing to a £51m loss for first six months of the year
Divorce settlement: Tatiana Akhmedova
Burford Capital, which helps firms and individuals fund their legal cases, has warned it will swing to a £51million loss for the first six months of the year.
Burford said that ‘almost nothing bad happened’ for the business between January and June, but that it is changing the way it accounts for future pay to its top staff, which led to a £58million charge.
But it saw some successes. In a divorce case, where it is helping Tatiana Akhmedova enforce her £453million divorce settlement against ex-husband Farkhad Akhmedov, it managed to achieve its £75million entitlement.
Burford has also been trying to seize Akhmedov’s £225million superyacht Luna, and instructed a team of former SBS soldiers to storm the vessel.