Grech said at AGM that costs are significantly down on the portfolio of cases.
Case quality is low. AGM guidance 18-22% successful resolution. Likely lower because of 'case attrition'. The costs will be recovered because the fees are substantial. Given the medium term cash burn it was a disaster. In the end SGH took on all the risk paying for the case load that would have sent watchstone broke (quindell). They will collect 50% of the earnings, pretty nifty for them.
SGH Price at posting:
32.0¢ Sentiment: None Disclosure: Held
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