Resolution of Fund I Investment

Litigation Capital Management Ltd

10 January 2024

 

10 January 2024

Litigation Capital Management Limited

("LCM" or the "Company")

Resolution of Fund I Investment

Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces a successful resolution on an investment which forms part of LCM's Fund I portfolio.

Successful Awards in Arbitration Portfolio Investment

LCM's investment related to a portfolio of two separate construction related disputes. One dispute was heard in the SIAC (Singapore International Arbitration Centre) and the other determined via an arbitration seated in Hong Kong SAR. LCM provided funding to the claimants in both proceedings, which recently received awards in their favour. The subject matter, findings and funding terms remain subject to confidentiality. 

Partial payment has been received with respect to one of the two portfolio investments, with the final return expected following the Tribunals' final determinations in relation to interest and costs. The overall financial performance of these investments is expected to be commensurate with LCM's past performance metrics. These Tribunal determinations are anticipated before the end of the current financial year, at which point an announcement with details about our final return will be made.

Patrick Moloney, CEO of LCM, commented: "This portfolio project was originated, underwritten, and managed entirely by our Singapore team and we are extremely pleased that the funded client entities have achieved awards in their favour on liability and quantum in both arbitrations. The resolution of this investment highlights in particular our depth of experience in the building and construction sector.

LCM is seeing increased activity in the Asian region which necessitated the expansion of our investment management team in our Singapore office in 2023. The Singapore case was the first domestic arbitration to be supported by litigation funding since the Singapore market further opened up in June 2021 to allow both domestic arbitration and disputes in the Singapore International Commercial Court to be funded, highlighting the strength of our position in a fast growing market."

Enquiries

Litigation Capital Management	c/o Tavistock PR
Patrick Moloney, Chief Executive Officer
Canaccord (Nomad and Joint Broker)	Tel: [phone]
Bobbie Hilliam
Investec Bank plc (Joint Broker)	Tel: [phone]
David Anderson
Tavistock PR	Tel: [phone]​
Tim Pearson	[e-mail]
Katie Hopkins

NOTES TO EDITORS

Litigation Capital Management (LCM) is an alternative asset manager specialising in disputes financing solutions internationally, which operates two business models. The first is direct investments made from LCM's permanent balance sheet capital and the second is third party fund management. Under those two business models, LCM currently pursues three investment strategies: Single-case funding, Portfolio funding and Acquisitions of claims. LCM generates its revenue from both its direct investments and also performance fees through asset management.

LCM has an unparalleled track record driven by disciplined project selection and robust risk management.

Currently 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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