LCM backs claim in liquidation proceedings of the Comet Group

Litigation Capital Management is backing a claim in the liquidation proceedings of the Comet Group. At the time of its insolvency, Comet was the UK’s second largest electrical retailer with 239 stores and 6,900 employees. Liquidators from FRP Advisory are bringing a claim against Darty, a multinational electrical retailer based in France, alleging that it received a £83 million preferential payment prior to Comet entering into administration. Read more.

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LCM investment yields 195% IRR

LCM has announced 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. The investment forms part of LCM’s Direct Investment Portfolio and was 100% funded from the company’s balance sheet. The investment produced approximately £9.8 million in revenue and produced a 255% ROIC and a 195% IRR. The life of the investment was 26 months.

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