RE: A bit of fun3 May 2025 16:09
Found it this was my posts back in Feb 2023.
RE: RNS...28 Feb 2023 08:34
They get their money back and then the higher of ........ between 2 to 4.25 times.
After the 5th year, they take interest of 25% per annum, wow.
How much is the claim even to give all this? That might maybe justify these charge.
Gist
Posted in: PAT
Posts: 221
Price: 4.45
No Opinion
RE: RNS...28 Feb 2023 08:31
On the face of it, it looks good until you see the details.
In the event that there is a award and/or recovery, LCM Funding shall be entitled, in the first instance, to the amounts it has deployed from the Facility, as well as the greater of:
a) approximately US$1.05 million being 10% of the Funding Limit;
b) a Funder's commission (the "Commission") of between 5% and 15% of the damages recovered, based upon the number of years that have passed from the date of the Funding Confirmation Notice; or
c) a multiple (the "Multiple") of between 2 and 4.25 times the total of the Facility, based upon the number of years that have passed from the date of the Funding Confirmation Notice.
Time period
Multiple
Commission
Funding Confirmation Notice to its one-year anniversary
2
5%
1st year anniversary of Funding Confirmation Notice to 2nd anniversary thereof
2.5
7.5%
2nd year anniversary of Funding Confirmation Notice to 3rd anniversary thereof
3
10%
3rd year anniversary of Funding Confirmation Notice to 4th anniversary thereof
3.75
12.5%
Any time following the prior period
4.25
15%
Following the fith year, the Funder is additionally entitled to an agreed interest rate at 25% per annum on the Deployed Funding until receipt of damages payments.
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