Litigation Capital Management Ltd Resolution of Fund I Investment (1641Z)
January 10 2024 - 2:00AM
UK Regulatory
TIDMLIT
RNS Number : 1641Z
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 Tel: 020 7523 8000
Broker)
Bobbie Hilliam
Investec Bank plc (Joint Tel: 020 7597 5970
Broker)
David Anderson
Tavistock PR Tel: 020 7920 3150
Tim Pearson LCM@Tavistock.co.uk
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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