RE: Lack of clarity about the timeline for succesful receipt of cash.8 Oct 2024 13:22
LIT get 2-5x what they put up so just for round number £10m gives them a maximum £50m return, below is from 30/6/2020 RNS re AU$18m/US$12m of funding that I have rounded to £10m
LITIGATION FUNDING AGREEMENT TERMS
The LFA (which is denominated in US$) provides for monies to be progressively drawn down from the financing facility to meet expenses associated with the Claim. A detailed budget has been approved as part of the LFA, which confirms all expected legal and ancillary costs associated with the arbitration process, as well as a portion of the Company's claim related operating expenses.
LCM will provide up to US$12.3m (A$18m) in limited recourse financing which is repayable to LCM in the event of a successful Claim or settlement of the Dispute that results in the recovery of any monies. If there is no settlement or award, then LCM is not entitled to any repayment of the financing facility. In return for providing the financing facility, LCM shall be entitled to receive repayment of any funds drawn plus an amount equal to between two and five times the total of any funds drawn from the funding facility during the first five years, depending on the time frame over which funds have remained drawn, and then a 30% interest rate after the fifth year until receipt of damages payments.
As far as the rest is concerned all that should become clearer over the next few weeks and/or months.
Not sure Poland has much of a leg to stand on with regards to appeals given they where mining one of the assets.