New Litigation Finance Agreement

RNS Number : 1460E

Litigation Capital Management Ltd

06 July 2021

 

06 July 2021

Litigation Capital Management Limited

("LCM" or the "Company")

New Litigation Finance Agreement

LCM to fund claim alleging Govia Thameslink Railway abused its dominant position in the market

Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces it has entered into a new litigation finance agreement with Edward Vermeer and David Boyle in an application to commence a collective action launched in the Competition Appeal Tribunal against Govia Thameslink Railway Limited ("GTR") and its parent companies, The Go-Ahead Group Plc and Keolis (UK) Ltd.

The agreement to provide a litigation finance facility is to fund a claim alleging GTR abused its dominant position in the market for rail services on the London-Brighton mainline, in breach of the Competition Act 1998.  

We remain focused on sustainable long-term growth through our strategic relationships and the development of a high-quality portfolio of investments.

Further information relating to the collective action can be found at the following link: www.GTRClaim.co.uk and/or www.catribunal.org.uk.

Patrick Moloney, CEO of LCM, commented: "We are seeing an increasing number of competition-based claims in the UK. These types of claims are made possible through litigation funding as the economics would not permit a victim of anti-competitive behaviour to bring a claim alone without external support. 

Nick Rowles-Davies, Executive Vice Chairman of LCM, commented: "We are delighted to support this action with this significant litigation funding agreement as LCM builds its position as a leader in disputes funding in the UK. Importantly, this agreement demonstrates our commitment to supporting and facilitating opportunities which benefit consumers and the broader communities in which we operate."

Enquiries

Litigation Capital Management	c/o Alma PR
Patrick Moloney, Chief Executive Officer
Canaccord (Nomad and Joint Broker)	Tel: [phone]
Bobbie Hilliam
Investec Bank plc (Joint Broker)	Tel: [phone]
David Anderson
Alma PR	Tel: [phone]
Justine James	[e-mail]
Susie Hudson Kieran Breheny Molly Gretton

NOTES TO EDITORS

Litigation Capital Management (LCM) is a leading international provider of litigation financing solutions. This includes single-case and portfolios across; class actions, commercial claims, claims arising out of insolvency and international arbitration. LCM has an unparalleled track record, driven by effective project selection, active project management and robust risk management.

Headquartered in Sydney, with offices in London, Singapore, Brisbane and Melbourne, LCM listed on AIM in December 2018, trading under the ticker LIT.

www.lcmfinance.com

 

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