I haven't looked at IMF for a while but I was waiting for the outcome of their big cases - Wivenhoe was due late last year so that cant be far away. I think on a risk adjusted basis that decision will hurt the share price either way unless they get a resounding win because it has been a drawn out affair with a lot of costs. The best cases are like the recent LCA win where they settled within a week without spending anything although it was obviously the exception to the rule.
The other thing I want to see from IMF is dealflow (case flow). Cases are like blood to these businesses and the "overheads to cases" over at IMF was beyond a joke when I sold a few years ago.
The other reason in my opinion why IMF never scaled into a Burford was their very high cost of capital due to their poor deal with Fortress. I did read the recent announcement that they have secured better terms on their most recent raising but I haven't had time to look into the detail. Has anyone else that follows the sector looked at IMF recently?
LCA Price at posting:
91.0¢ Sentiment: None Disclosure: Held
