LawFinance sells litigation funding business JustKapital

Australian funder LawFinance (ASX:LAW) has completed the sale of its litigation funding business JustKapital to Legal Equity Partners, a subsidiary of Lucerne Composite Master Fund, for A$10 million. The sale was announced in January, at which time Law Finance stated that it was “not in a strong enough capital position to constructively remain in and grow the litigation funding business” and because “the amount of debt secured against the cases and the continued requests for further funding of the cases has resulted in a lower probability of recovery than originally envisaged”. Read more.