Settlement of litigation project

RNS Number : 1812L

Litigation Capital Management Ltd

21 December 2018

 

21 December 2018

Litigation Capital Management Limited

("LCM" or the "Company")

Settlement of litigation project

Litigation Capital Management Limited (AIM:LIT), a leading international provider of litigation financing solutions, today announces that a settlement has been reached in respect of one of its litigation projects.

Highlights

§ Expected to contribute over A$1.5 million in revenue for the current financial year to 30 June 2019; with a similar sized contribution to EBITDA

§ The litigation project was managed to settlement in less than one month

§ Third litigation project that LCM has completed in the current financial year

The parties involved in the litigation project are undisclosed, but it relates to an international arbitration case. International arbitration represents one of several types of litigation projects that LCM provides funding for across single-case and portfolio funding, as well as class actions, commercial claims and claims arising out of insolvency.

LCM has also entered into an agreement to provide litigation finance in relation to proceedings brought in the Supreme Court of Western Australia.  The terms of the funding agreement are subject to confidentiality between the parties involved and are therefore undisclosed. 

Patrick Moloney, CEO of LCM, said: 

"The ability of LCM to manage this litigation project to completion in such a short time period is reflective of LCM's active project management approach in an opportunistic situation and we will look to replicate this where we can. Across the diverse portfolio of litigation projects we finance, international arbitration is one of a number of sectors in which we expect to see continued growth in the coming years, particularly in markets such as Hong Kong and Singapore." 

-ENDS-

CONTACTS

Litigation Capital Management

Patrick Moloney, Chief Executive Officer                            

Nick Rowles-Davies, Executive Director

Canaccord (Nomad and Broker)                                                Tel: [phone]

Sunil Duggal / Emma Gabriel / Michael Reynolds

Hawthorn Advisors                                                                      [e-mail]

Lorna Cobbett / Zinka MacHale                                                  Tel: [phone]

NOTES TO EDITORS

About LCM

Litigation Capital Management ("LCM") is a leading international provider of litigation financing solutions. This includes single-case and portfolio; 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 has been listed on AIM since December 2018, trading under the ticker LIT. www.lcmfinance.com

 

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