LEGAL FINANCE SE EQS-News: Legal Finance SE: Distressed Finance - Lawsuit filed
Transparency directive : regulatory news
|
Issuer: Legal Finance SE
/ Key word(s): Sales Result/Market Launch
Frankfurt based litigation financier Legal Finance SE announces the commencement of proceedings in its first 'Distressed Finance' case. For the first time, Legal Finance is financing a lawsuit for the re-transfer of shares in a company and, if successful, will take a stake in the company. Typically, litigation financiers fund payment claims and participate in the success of the litigation: If the case is won, the litigation funder receives a share. However, this model is impractical when the creditor does not receive money but, for example, real estate or shares of a company. Under the new 'Distressed Finance' model, Legal Finance also finances such cases in return for a share of the assets. The current case is international and complex: It involves the retransfer of shares in a company from a private individual. The company in question is a valuable and had been 'stolen' from the plaintiff, including by fraud, resulting in a six-figure loss (in euros). Out-of-court letters and settlement efforts have so far been unsuccessful. Legal proceedings have now been initiated. The case is considered to have a good chance of success. In particular, Legal Finance sees the possibility of a speedy conclusion to the proceedings through a court settlement. Legal Finance is financing the case through its subsidiary Legal Finance International GmbH and will participate in the event of success.
Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |