IMF Bentham Limited
(ASX:IMF) has agreed to fund a further case in the US by IMF’s wholly owned subsidiary Bentham Capital LLC.
While the company did not disclose specific details, the litigation funder told shareholders the new matter involves the funding of an appeal of an arbitration award in a US federal court.
IMF said the initial claim value is $12 million and will be included in its quarterly investment portfolio report.
The company said this is its best estimate of the claims recoverable amount, but that the figure could be subject to changes.
IMF reported a net profit of $6.3 million at 30 June 2015.
