If you want a litigation funder that turns cases over quickly...

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thebigbadbear

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23/01/19

13:10

Post #: 37198846
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Originally posted by Portfolio: ↑

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?

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If you want a litigation funder that turns cases over quickly have a look at MANO (LSE) also listed on AIM recently, they are in the niche of insolvency litigation funding only and their average settlement time frame is 1 year. They are were trading at 3 x book value and are a similar size to LCM - their stock also took off last night by the looks. Nice to see LCM trading above 2 x book value now

I only have a small position in IMF and once the Wivenhoe case is off their books i will add more

LCA Price at posting: 91.0¢ Sentiment: Buy Disclosure: Held
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If you want a litigation funder that turns cases over quickly...

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