Business
Progress on direct balance sheet investment
Progress on direct balance sheet investment.
About this update from Litigation Capital Management Ltd
[{"type":"text","content":"\n \n \n \n \n \n 23 February 2023\n \n \n \n \n \n Litigation Capital Management Limited\n \n \n (\"LCM\" or the \"Company\")\n \n \n \n \n \n Progress on direct balance sheet investment\n \n \n \n \n \n Litigation Capital Management Limited (AIM:LIT),\n an alternative asset manager specialising in dispute financing solutions internationally,\n announces positive progress on an investment forming part of its portfolio of direct investments.\n \n \n \n \n \n \n Successful award in investment in arbitration\n \n \n \n \n \n \n The Company is pleased to announce a positive development on one of LCM's 100% direct balance sheet investments which was heard by an ICC International Court of Arbitration tribunal. A partial award on liability and quantum was granted in favour of the funded party. This means that the funded party has succeeded in the claim and the only matter yet to be determined is the costs award. The Company expects the funded party to also be successful in an award of its costs, however, that costs award does not affect LCM's interest or its potential returns. \n \n \n \n \n \n The award is subject to challenge in the court by the respondent. That challenge is not in the nature of an appeal. LCM is confident that the award will be upheld.\n \n \n \n \n \n LCM has invested approximately AUD$ 2.9m (USD $2m) in this arbitral dispute. The investment performance is protected by a compounding interest rate.\n \n \n \n \n \n \n Patrick Moloney, CEO of LCM, commented:\n \n \n \"We are pleased with the positive adjudication in this investment. Despite the Respondent challenging the award we are confident that the award will be maintained. In the current uncertain macro-economic environment our direct investments, as well as those made alongside our fund investments, continue to demonstrate the non-cyclical and uncorrelated nature of the returns from litigation funding.\n \n \n \n \n \n \n \n \n \n This award is expected to generate a return in line with management expectations\".\n \n \n \n \n Enquiries\n \n \n \n \n \n \n \n \n Litigation Capital Management\n \n \n \n \n \n c/o Tavistock PR\n \n \n \n \n \n \n Patrick Moloney, Chief Executive Officer\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Ca...