Omni Bridgeway (ASX:OBL)
, a global leader in financing and managing legal risks has announced the completion of a Fund 4, patent litigation investment in the United States by way of settlement. A payment of US $8.5 million is expected to occur in August 2021.
Omni Bridgeway offers claim securitisation, litigation, funding, legal recovery, trading, and other related solutions. If settlement completion occurs on or after 9 September 2021, the total income increases to US $9.7 million. Total income generated by Fund 4 is dependent on the timing of settlement completion.
US managing director and CEO Andrew Saker said, “we have observed a developing trend in the resumption of activity upon the reopening of courts in the United States, and as indicated by the conclusion of these legal proceedings, this should lead to further potential settlement discussions and opportunities for completions.”
Shares in Omni Bridgeway (ASX:OBL)
are trading 2.28 per cent higher at $3.59.