Business
Successful Award in LCIA International Arbitration
Successful Award in LCIA International Arbitration.
About this update from Litigation Capital Management Ltd
[{"type":"text","content":"\n \n \n \n RNS Number : 3378R\n Litigation Capital Management Ltd\n 04 November 2021\n \n \n \n \n 4 November 2021\n \n \n \n \n \n Litigation Capital Management Limited\n \n \n (\"LCM\" or the \"Company\")\n \n \n \n \n \n Successful award in LCIA international arbitration \n \n \n \n \n \n \n Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces the delivery of an award in favour of the funded party in an international arbitration, under the LCIA (London Court of International Arbitration) rules. The arbitration, seated in London and brought under the rules of the LCIA was for the determination of a construction dispute relating to a development in the Middle East. \n \n \n This investment forms part of LCM's Direct Investment Portfolio and was 100% funded from balance sheet.\n \n \n As a result of this award LCM has received approximately £9.8m (AUD$18.4m) in revenue, which includes the return of LCM's investment of £2.8m (AUD$5.1m). This investment generated ROIC on the investment of 255%, with an IRR of 195%. The life of this investment was 26 months. \n \n \n \n \n \n Patrick Moloney, Chief Executive Officer of LCM, commented: \"This successful Award is the realisation of one of the first investments which LCM entered into following the opening of its London office in 2018 and demonstrates the successful application of its underwriting process to an expanding range of investments both in terms of geography and claim type. This award is an excellent result for both LCM and our funded party.\"\n \n \n \n \n \n Enquiries\n \n \n \n \n \n \n \n \n Litigation Capital Management\n \n \n \n \n c/o Alma 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 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Canaccord (Nomad and Joint Broker) \n \n \n \n \n Tel: 020 7523 8000\n \n \n \n \n \n \n Bobbie Hilliam\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 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Investec Bank plc (Joint Broker)\n \n \n \n \n Tel: 020 7597 5970\n \n \n \n \n \n \n David Anderson\n \n \n \n \n \n \n \n \n...