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Burford share price rises, as Barbados pics resurface

Burford share price rises, as Barbados pics resurface

Friday 01 November 2019

Burford share price rises, as Barbados pics resurface

Friday 01 November 2019


Attempts to 'dish dirt' on the board members of Burford Capital have seen pictures from 2015 shared online and reprinted including one of Deputy Charles Parkinson during a trip to Barbados.

At that time he wasn't a States member, having stood down at the 2012 election, before rejoining the States in a by-election in December 2015.

Deputy Parkinson has never hidden his business interests outside his political career. He and others elected to public office are required by law to declare their interests - which he does here.

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Pictured: Deputy Parkinson holds a number of directorships.

While he has never made any secret of his involvement with finance firm Burford Capital, Deputy Parkinson's role as a director was recently put under the spotlight as national newspaper articles accused the company of taking its board members on 'all-expenses paid' trips to 'luxury destinations' for board meetings.

The allegations made in the Standard and Telegraph in September included photos taken of directors and some of their partners in Barbados, in 2015, during a trip for a board meeting.

One of the articles also claimed Deputy Parkinson, although then not a politician, was paid a salary of $66,000 and had enjoyed $80 bottles of wine.

The article printed by the Telegraph alleged he had failed to disclose this to the States, but under the rules for States Members he wouldn't have had to, and he wasn't a  Deputy at the time of the Barbados trip anyway.

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Pictured: Deputy Charles Parkinson and others in Barbados in 2015. Inset: The Standard headline from 11 September. The full article can be read HERE. 

Burford Capital is registered in Guernsey and is described by the Standard as a'litigation funding giant'. It hit rocky times earlier this year when share prices dropped in the aftermath of criticism of its governance and accounting practices. Those claims were made by a US hedge fund, Muddy Waters.

However, Deputy Parkinson has told Express that Burford Capitals' fortunes have improved since then. 

He was also surprised at the recent interest in the board meeting held in Barbados as it was almost five years ago.

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Pictured: The Telegraph article can be read in full HERE. 

"Burford held a Board Meeting in Barbados in 2015, an event which is not ‘recent’," he said, "and which occurred long before the short attack of this summer that damaged the share price.  The share price is now steadily rising, as the market realises that the allegations made against Burford were largely unfounded."

Deputy Parkinson also confirmed he declares all of his personal business interests in line with the rules for elected States members in Guernsey. 

"It is sufficient that I have declared my interest in Burford.  The purpose of the Register of Interests for States Members is to make public any relationships which could potentially give rise to a conflict of interest, not to discover the cost of our lunch. My entries in the Register are complete and accurate."

Pictured top: Deputy Parkinson pictured in Barbados in 2015. 

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