Litigation Capital Management

All articles about Litigation Capital Management.

Litigation Capital Management has reported a strong fiscal year in the 12 months to 30 June 2022, with highlights including a 23% increase in adjusted operating profit, a fully committed Fund I of US$150 million and two thirds of the targeted US$300 million raised for Fund II, overall commitments consistent with the previous year at A$104 million, and applications decreasing to 442, down from 572 for fiscal 2021.
GreenX Metals Ltd, a Perth, Australia-based mining company, said its £737 million arbitration claim against Poland, which alleges that Poland has breached its obligations under the applicable treaties through its actions to block the development of the company's Jan Karski and Debiensko mines, is proceeding at pace following the company's submission of its statement of reply in the arbitration. The claim is backed by Litigation Capital Management.
The Full Court of Australia has ruled that litigation funding arrangements should not be considered managed investment schemes. In a judgment dated 16 June 2022, the Full Court of Australia  has sided with LCM in its appeal of the decision of the primary judge in Stanwell Corporation Limited v LCM Funding Pty Ltd. As a result, litigation funding arrangements in Australia will no longer be considered managed investment schemes, and litigation funders will be relieved from the burden of a "legislative and regulatory regime characterised by uncertainty, inconvenience and the potential for mischief by class action respondents."
LCM is backing a new representative action in the UK being brought by Mishcon de Reya on behalf of up to 1.6 million individuals against Google and DeepMind Technologies for the unlawful use of patients' confidential medical records. The claim arises out of an arrangement formed in 2015 between Google and DeepMind and the Royal Free London NHS Foundation Trust. The tech companies obtained and used a substantial number of confidential and private medical records without patients' knowledge or consent.
Litigation Capital Management (LCM) has announced its half year results ended 31 December 2021. The company saw a gross profit of A$13.9m (H121: A$5.4m) and a further 89 applications received in the two month period to 28 February 2022 which demonstrates an acceleration in momentum and return to normal operating conditions. Overall, at the ten-and-a-half-year mark, LCM saw an increase in investment performance metrics achieving a cumulative Return on Invested Capital (ROIC) of 162%, [including losses] and a cumulative IRR of 79% (HY 2021: 78%). 

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