Litigation Capital Manag... Share Discussion Threads

[nchanning] 26/11/2024 07:52

Panthera case has moved a step forward . To be honest it seems like another open and shut case where the resource was clearly expropriated and the Indian government has itself valued it and sold it to a third party so not much doubt about the value .

[robertbarns1] 22/11/2024 16:26

share price holding up well

[citywolf1] 22/11/2024 10:33

One reason for the recent underperformance of these shares imv has been the poor outturns of the recent legacy balance sheet cases. We seem to have had several losses and these have a double impact because they are 100% bs funded and also due to their age would have delivered strong returns had they been wins e.g. the katy perry case may be a 3m loss in cash terms, but would have potentially delivered 15m+ as a win.

I don't think you can draw any go forward conclusions about underwriting because the performance of the Fund I cases which were underwritten after these cases has been very strong. But it is frustrating that a sizeable chunk of balance sheet capital (which could have been compounded at high rates as coinvest via the funds) has been forgone.

However losses are part of the game here and I'm still a mega bull on this stock; hopefully there are a flurry of wins in the remaining cases to balance it out. If so the financial impact will be very significant indeed

[robsy2] 22/11/2024 08:20

Oh dear. Thanks for telling us. Let’s see what happens next.

[l2b] 22/11/2024 07:21

Bad news - Katy Perry wins her appeal.
Federal Court found on appeal the Ms Taylor's 'Katie Perry' trademark must be cancelled, in part because the name was globally synonymous with the singer when it was trademarked and ongoing use may "deceive" and "cause confusion".

Will LCM appeal to the High Court?

www.abc.net.au/news/2024-11-22/katy-perry-wins-appeal-trademark-battle-sydney-label-katie-perry/104633950

[l2b] 20/11/2024 23:37

Katy Perry appeal against Katie Perry.
Judgment tomorrow (22nd) at 9.30am (NSW).
It might be available for livestream (confirmed in the arvo).

For the newbies, Katie Perry (Aussie fashion designer funded by LCM) won the original trademark case against Katy Perry (singer) so this should wrap it up.
www.bbc.co.uk/news/entertainment-arts-65421964#:~:text=Singer%20Katy%20Perry%20has%20lost,infringed%20a%20trademark%20she%20owned.

[pigeonfeeder] 18/11/2024 14:48

I have had a response to my W/T query from IG index.

After reviewing with their custodian they can confirm that the payment should be tax free so they will refund me the tax deducted in error.

[someuwin] 18/11/2024 14:14

I wonder why LIT never seem to mention new cases to the market? i.e putting out an RNS to say they are funding a new £3bn claim against Apple would surely be beneficial to their own standing and could provide a good boost to the share price as well. I'm sure they used to announce such deals, why have they gone so shy?

[johnwig] 18/11/2024 13:49

Robert, you may have missed this part of the announcement 10 days ago:

"Following this purchase, the Company confirms that the Share Buyback Programme, as announced on 5 October 2023, has been completed."

It does not seem to have affected the share price adversely. In fact, somewhat the opposite!

[brad_k] 18/11/2024 13:46

My HL account has been credited with another dividend payment (also dated 25/10/2024) which appears to be the 30% tax which they withheld last year. Anyone else seeing that ?

[robertbarns1] 18/11/2024 09:35

looking like the buybacks have come to an end ?

[waterfall city] 16/11/2024 13:25

HLs reply on the dividend is that the Australian government deduct it at source as its a foreign income dividend, im surprised anyones receiving it gross.

[l2b] 15/11/2024 16:53

LCM funding £3b claim against Apple by Consumer group Which?
The next step will be for Which? to obtain permission from the Competition Appeal Tribunal to pursue the claim to trial.
www.bbc.com/news/articles/c20g50ny53eo

Poland as expected exercised their option to annul GreenX decision.
Makes sense as a delay tactic to negotiate settlement as can always undo.

[maddox] 15/11/2024 11:02

Thanks Pigeonfeeder, that's a helpful clarification of policy. That position is logical and with the tax issue resolved I support it. The shares need more institutional support not less.

[pigeonfeeder] 13/11/2024 11:30

I was pleased to see that no Australian witholding tax was deducted from the recent dividend by my SIPP provider (AJ Bell).

Unfortunately my ISA provider (IG Index) did deduct the witholding tax. I contacted the company and the CFO responded that they had resolved the issue and no witholding tax should be deducted.

So if you had tax deducted you should contact your broker.

The CFO also answered my question as to why they pay a dividend as follows:

"Why pay a dividend?  We have significant opportunities to reinvest our capital given the high IRR’s we generate on investment into new cases and also as we aim to cautiously build out our business operations (we signalled expansion into the US and investment into AI technology in our recent results presentation).  So, reinvestment is priority number 1.  However, we have a mix of different shareholders and many of those shareholders (particularly UK fund managers) are keen on us paying a dividend as this enables them to hold our shares in their funds.  Thus, we pay a modest dividend for that reason."

[elsa7878] 11/11/2024 07:57

Thought after Tusk's comments they would roll over and pay up. Clearly not (for now).

[nchanning] 11/11/2024 07:33

Poland appealing jurisdiction , unlikely to succeed . I guess extra draw down on litigation finance to contest appeal , and extra time mean a larger MOIC for LIT

[professor x] 08/11/2024 08:24

Good to see an Australian insti adding to their holding.

[robertbarns1] 01/11/2024 21:03

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[rider75] 30/10/2024 17:40

Wasnot it the case that Poland doesnt have the opportunitx to appeal, only annulment procedure might be initiated, but only if any serious malpractice or fault have been made?

[robsy2] 29/10/2024 23:07

Thanks L2B for the update.
Feels like the book of cases is maturing into money.

[l2b] 29/10/2024 20:52

Officially Poland have 30 days and 3 months (for BIT/ECT) to appeal the GRX decision.

Today Polish PM Donald Tusk said the case is "hopeless" and "quite obvious that [GRX] would win the arbitration".
He will review the legal analysis this week.

IMO their only reason to appeal would be to stretch it out for settlement negotiations. Or they could play some local Polish politics. We'll find out soon.

www.parkiet.com/surowce-i-paliwa/art41370911-tusk-przyznaje-po-przegranym-arbitrazu-z-australijczykami-sprawa-jest-beznadziejna

www.youtube.com/live/CW910eL-8Ck (29 min)

[someuwin] 28/10/2024 09:57

Does judgment reserved imply he's giving it serious consideration. i.e he hasn't dismissed the appeal out of hand?