Litigation Capital Management Limited (AIM:LIT) (LCM), a leading international provider of litigation financing solutions, today provides an update as to its portfolio and pipeline of litigation projects as at 30 June 2019.
Current Portfolio
LCM currently has a portfolio of 29 projects under management. 23 of those litigation projects are unconditionally funded and 6 projects are conditionally signed. The composition of the portfolio is as follows:
Commercial Claims 8
Class Actions 9
International Arbitration 5
Insolvency Claims 5
Corporate Portfolios 2
Since LCM’s last announcement in relation to its portfolioon 28 May 2019, the projects whichare now unconditionally funded include:
A class action brought in the Supreme Court of New South Wales on behalf of members of superannuation funds administered by Suncorp Portfolio Service Limited (“Suncorp”) alleging that Suncorp breached its duties to avoid conflicts, act with due care and diligence and to act in the best interest of its members.
A commercial claim involving proceedings in two separate jurisdictions seeking to recover funds which it is alleged were not paid to the claimant in breach of contract.
A commercial claim to be brought in the Federal Court of Australia on behalf of a fashion designer seeking damages or an account of profits as a result of alleged trademark infringement.
An international arbitration governed by the rules of the London Court of International Arbitration (LCIA) relating to a construction project in the middle east.
Current Pipeline
The current pipeline of pre-qualified opportunities continues to demonstrate the large and diverse investment opportunities within the company. LCM currently has approximately 59 pipeline projects across a mix of litigation financing including commercial, international arbitration, insolvency, class actions andcorporateportfolios. The estimatedpotentialinvestment across those 59projects exceeds A$380 million. That pipeline of investment opportunities is dynamic and changes regularly. The
pipeline reflects the global nature of LCM’s business with projects in Australia, the Asia Pacific and EMEA.
Patrick Moloney, CEO of LCM, said:
“LCM is ina period ofsignificant growthand wearepleased that this is reflectedinthe recent additions to our portfolio of litigation projects. Such increase demonstrates LCM’s ability to complete the due diligence process with respect to opportunities that were included in its pipeline at the time of IPO. It also demonstrates that LCM’s experienced team of investment managers are able to source and conduct due diligence on new opportunities to maintain a consistent and healthy pipeline of potential investment of a high value and quality. This will fortify LCM’s ability for future growth. These new projects are diversified across claim size, claim type and jurisdiction, contributing to a balanced portfolio.”
CONTACTS
Litigation Capital Management
Patrick Moloney, Chief Executive Officer Nick Rowles-Davies, Executive Director
Canaccord (Nomad and Broker) Bobbie Hilliam / Emma Gabriel
Hawthorn Advisors
Lorna Cobbett / Zinka MacHale
Tel: 020 7523 8000
lcm@hawthornadvisors.com Tel: 020 3745 4960
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
