(Alliance News) - Litigation Capital Management Ltd on Monday said that a claimant backed in a London arbitration proceeding won an award in its favour.
Litigation Capital Management shares rose 14% to 78.80 pence each on Monday morning in London.
It added that findings and funding terms remain subject to confidentiality.
The asset manager specialising in dispute financing solutions said "initially, the investment was expected to complete within a short time frame from the commencement of funding, however, the matter was delayed due to a number of external factors".
Chief Executive Officer Patrick Moloney said that the award validated the skillset of the investment managers and exemplifies an investment which it had originally expected to resolve in a prior financial period.
By Tom Budszus, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Litigation Cap. (LIT)