NIHL is a porfolio of 50,000 hearing loss cases aquired for 'free' from Quindell and is subject to a 50/50 profit sharing agreement after costs.
As of last report Grech maintained a 40-50% success rate expectation for the portfolio.
As of last report it has been a huge money pit costing 30m for just 1m in revenue.
There is 50m pounds as insurance (escrow) if it underperforms as part of the aqusituon deal.
If those success rates materialise it would help pay down a significant amount of debt, however it's a write off at this stage with no new info on it.
There is no recognition of it in WIP because there are no teliable accounting precedents to value it. The WIP is zero.
