Juridica, the leading provider of capital to the law market, provides the following portfolio update.
The Company is pleased to report that Case 0408-W has reached a successful conclusion which, when the full proceeds have been received, will have delivered a return on investment of 34%. Juridica’s portion of the settlement totals US$ 3.8 million having invested US$2.8 million. The Company has already received US$2.4 million and expects the remaining US$1.4 million to be received before 19 January 2011.
This positive outcome in the Case occurred despite a negative ruling in Q1 2010 which denied certain of the plaintiff’s claims, (as detailed in the Company’s Annual Report and Account for 2009). The Company’s investment in this claim was structured such that any return over a de minimus amount would generate a return of the Company’s investment plus a profit.
Commenting on the Case Juridica’s Chairman, Lord Brennan, said: "This was one of the Company’s initial investments and serves as further validation of our strategy and approach to corporate claims finance. Richard Fields and his team at the investment manager, Juridica Capital Management, continues to show that their due diligence and portfolio monitoring processes provide the best opportunity for our investments to deliver exceptional returns."
Juridica will announce its interim results for the six months to 30 June 2010 prior to 30 September 2010.
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