company: It funds Quinn Emanuel's case against failed engineering company RCR Tomlinson, which is currently before the New South Wales supreme court, and its case against financial services group AMP over losses to shareholders caused by the company's disastrous performance at last year's banking royal commission, according to The Guardian. Quinn Emanuel lost a beauty parade conducted by the court to decide which of five law firms would win the right to represent AMP shareholders, but is appealing the decision. But the lawyer running the class actions, Quinn Emanuel partner Damian Scattini, said he was not concerned by a report from short-selling group Muddy Waters slamming Burford Capital as arguably insolvent . Burford is part of a funds management empire run by Briton Neil Woodford that has been under pressure since June. Packer sold share of Crown to tycoon who was director of 'banned' company Read more In its report, Muddy Waters claimed the values Burford put on lawsuits it had funded but which had not finished were overblown and said it manipulated its figures to create what we believe is an egregiously misleading picture of its investment returns . It said Burford committed US 4.8m to fund the case against RCR Tomlinson, which then went into administration. Scattini said the report doesn't really concern us and Muddy Waters's characterisation of the RCR Tomlinson case was flat out wrong . They say Burford has spent 4.7m on it but they haven't, nothing like it, he said. As a result, stockholders are likely to recover little to nothing from previously announced suits, Muddy Waters said.
(news.financializer.com). As
reported in the news.
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