IMF Bentham Limited
(ASX:IMF) has announced it has agreed to fund a further matter in the US by its wholly owned subsidiary Bentham Capital LLC.
The initial claim value for the matter is $35 million and involves funding a law firm across a portfolio of cases.
IMF Bentham has indicated the claim value is a best estimate of the claims recoverable amount, which could be subject to exchange rate fluctuations in the future.
The company has restated it will not disclose specific details about its subsidiary’s US investments to limit the possibility of publically disclosed information having a negative impact on its clients in the case concerned.
IMF Bentham Limited reported a net loss of $944,000 at 31 December 2015.
