As demand for litigation funding has continued to grow with funders seeing increased adoption from major law firms and corporate entities, the market is also seeing a parallel increase from…
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LCM
Litigation Capital Management Limited (“LCM” or the “Company”): Interim results for the half year ended 31 December 2021
by John Freund
written by John Freund
Litigation Capital Management Limited (AIM:LIT), a leading international alternative asset manager of disputes financing solutions, is pleased to announce its unaudited interim results for the half year ended 31 December 2021, delivering a significant improvement on the prior year.
LCM Ousts Executive Vice-Chair for Alleged Financial Misconduct
by John Freund
written by John Freund
AU Litigation Funders See Agreements Grandfathered Through MIS Regime
by John Freund
written by John Freund
Litigation Capital Management: Successful award in LCIA international arbitration
by John Freund
written by John Freund
Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces the delivery of an award in favour of the funded party in an international arbitration, under the LCIA (London Court of International Arbitration) rules. The arbitration, seated in London and brought under the rules of the LCIA was for the determination of a construction dispute relating to a development in the Middle East.
Even among other large-scale infrastructure projects around the world, China’s Belt and Road Initiative (BRI) is impressive. Its plan is to expand and fortify the Silk Road in an international effort that involves stakeholders from around the globe. In any venture of this size, legal disputes cannot be avoided.
The pandemic has made an unwitting impact on nearly every industry. Its impact on litigation funding was largely positive. Since the first COVID shutdowns began, funders around the world have been besieged with interest from investors, businesses, and clients hoping to launch individual or collective actions. Litigation Capital Management (LCM) has seen exceptional progress, even within the funding industry.
Court Grants Funder Permission to Use Documents Produced for Examination
by John Freund
written by John Freund
Litigation Capital Management maintains that its team has performed admirably in what has been a difficult and unusual year. On that note, LCM announced its second specialist litigation fund is on track to close this quarter, owing to explosive investor interest.
Litigation Capital Management Secures Another Major Funding Agreement
by John Freund
written by John Freund
Prominent third-party litigation funder LCM (Litigation Capital Management) has secured a trio of major legal funding agreements in the last seven weeks. These include cases against rail services giant Govia, French electrical retailer Darty, and former Carillion auditor KPMG. As expected, investors have noticed LCM’s success; share prices rose 25%. Many analysts, including Simon Thompson, are lauding the stock and calling it a ‘buy.’
Litigation funders may purchase claims from liquidators, keeping a portion of the recovery. But there are practical questions that need answers here—such as whether funders may use evidence from previous examinations of the insolvent company’s affairs. In the instance of LCM Operations Pty Ltd; 316 Group Pty Ltd, LCM bought claims from a liquidator, who would receive 15% of any proceeds collected.
Litigation Capital Management agrees to fund Comet liquidation claim
by John Freund
written by John Freund
Dispute financing solutions provider Litigation Capital Management said it had agred to provide litigation funding to Geoffrey Carton-Kelly, a partner of FRP Advisory, additional liquidator of CGL Realisations Ltd, formerly known as Comet, seeking to recover £83 million from Darty.
LCM CEO Patrick Moloney details that LCM has made strong progress in the first half of its fiscal year. Quality applications are up, and demand for legal finance is increasing as predicted. Most of the direct investment portfolio is balance sheet funded, and portfolio investments are reaching maturity. While timing remains somewhat unpredictable, that should smooth out as portfolio investments increase over time.
An order for securities for costs is meant to ensure that defendants can receive remuneration from an unsuccessful plaintiff. Monies are verified or set aside until the case is completed. If a securities for costs order is not met, a case may be dismissed. For the courts, deciding whether this is necessary can be a balancing act that weighs the hardship of a defendant who cannot recover costs, versus the financial burden to the plaintiff.
Liquidators are sometimes ordered to pay costs, which is not a situation any want to be in. Liquidators have a duty to examine what led up to the liquidation, and to bring and defend a legal case if applicable. But if they lose, costs can be awarded against them personally.
Indiana Resources is still pursuing its case against the government of Tanzania. The case deals with the alleged expropriation of the southern African Ntaka nickel project. Indiana’s claim now exceeds $95 million, with the first hearing scheduled for next month.