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Litigation Capital Management: Progress on direct balance sheet investment

Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specializing in dispute financing solutions internationally, announces positive progress on an investment forming part of its portfolio of direct investments.

Successful award in investment in arbitration

The Company is pleased to announce a positive development on one of LCM’s 100% direct balance sheet investments which was heard by an ICC International Court of Arbitration tribunal.  A partial award on liability and quantum was granted in favour of the funded party. This means that the funded party has succeeded in the claim and the only matter yet to be determined is the costs award. The Company expects the funded party to also be successful in an award of its costs, however, that costs award does not affect LCM’s interest or its potential returns.

The award is subject to challenge in the court by the respondent. That challenge is not in the nature of an appeal. LCM is confident that the award will be upheld. LCM has invested approximately AUD$ 2.9m (USD $2m) in this arbitral dispute.  The investment performance is protected by a compounding interest rate.

Patrick Moloney, CEO of LCM, commented: “We are pleased with the positive adjudication in this investment. Despite the Respondent challenging the award we are confident that the award will be maintained. In the current uncertain macro-economic environment our direct investments, as well as those made alongside our fund investments, continue to demonstrate the non-cyclical and uncorrelated nature of the returns from litigation funding.

This award is expected to generate a return in line with management expectations”.

Enquiries

Litigation Capital Managementc/o Tavistock PR
Patrick Moloney, Chief Executive Officer
  
Canaccord (Nomad and Joint Broker) Tel: 020 7523 8000
Bobbie Hilliam
  
Investec Bank plc (Joint Broker)Tel: 020 7597 5970
David Anderson 
  
Tavistock PRTel: 020 7920 3150
Tim Pearsonlcm@tavistock.co.uk
Katie Hopkins 

Litigation Capital Management (LCM) is an alternative asset manager specialising in disputes financing solutions internationally, which operates two business models. The first is direct investments made from LCM’s permanent balance sheet capital and the second is third party fund management. Under those two business models, LCM currently pursues three investment strategies: Single-case funding, Portfolio funding and Acquisitions of claims. LCM generates its revenue from both its direct investments and also performance fees through asset management.

LCM has an unparalleled track record driven by disciplined project selection and robust risk management. Currently headquartered in Sydney, with offices in London, Singapore, Brisbane and Melbourne, LCM listed on AIM in December 2018, trading under the ticker LIT.

www.lcmfinance.com

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Announcements Consumer

34% of Americans Trust ChatGPT Over Human Experts, But Not for Legal or Medical Advice

By Harry Moran |

A newly released study from Express Legal Funding, conducted with the help of SurveyMonkey, reveals that while 34% of Americans say they trust ChatGPT more than human experts, the majority still draw a hard line when it comes to using generative AI for serious matters like legal or medical advice. The findings highlight a growing national tension between fascination with artificial intelligence and fear of misusing it for high-stakes decisions.

Key Findings from the ChatGPT Trust Survey:

  • 60% of U.S. adults have used ChatGPT to seek advice or information—signaling widespread awareness and early adoption.
  • Of those who used it, 70% said the advice was helpful, suggesting that users generally find value in the chatbot's responses.
  • The most trusted use cases for ChatGPT are:
    • Career advice
    • Educational support
    • Product recommendations
  • The least trusted use cases are:
    • Legal advice
    • Medical advice
  • 34% of respondents say they trust ChatGPT more than a human expert in at least one area.
  • Despite its growing popularity, only 11.1% believe ChatGPT will improve their personal financial situation.
  • Younger adults (ages 18–29) and Android and iPhone users report significantly higher trust in ChatGPT compared to older generations and Desktop (Mac/Windows) users.
  • Older adults and high-income earners remain the most skeptical about ChatGPT's reliability and societal role.
  • When asked about the broader implications of AI, only 14.1% of respondents strongly agree that ChatGPT will benefit humanity.

Expert Insight:

"This study highlights how many Americans are navigating the fast-growing influence of generative AI and natural language processing agents in their daily lives and that ChatGPT is far from being just a fringe use tool," said Aaron Winston, PhD, Strategy Director at Express Legal Funding and lead author of the report. "Most people are open to using ChatGPT for advice—and over a third even say they trust it more than a human expert. But when it comes to high-stakes decisions involving legal, financial, or medical matters, most still prefer real-world professionals. It's a sign that while AI is gaining ground quickly, trust is still tied to context."

Why It Matters:

As AI tools like ChatGPT become more integrated into everyday life, understanding where people draw the line between curiosity and trust is critical. This distinction helps reveal not only how Americans are using AI today but also where they're still relying on human expertise for reassurance and accuracy.

About Express Legal Funding:

Express Legal Funding is a leading pre-settlement funding company headquartered in Plano, Texas, serving plaintiffs nationwide. Recognized for its commitment to ethical funding practices and consumer advocacy, the firm provides non-recourse financial support to individuals involved in personal injury and civil lawsuits—helping clients cover essential living expenses while their legal claims move forward. Beyond funding, Express Legal Funding is a trusted voice in the legal tech and finance space, publishing original research and data-driven insights that inform public discourse and guide industry best practices.

Announcements Commercial Fundraising

Manolete Partners Announces New Revolving Credit Facility with HSBC Bank

By Harry Moran |

Manolete Partners Plc (AIM:MANO), the leading UK-listed insolvency litigation financing company, is pleased to announce it has signed a new Revolving Credit Facility ("RCF") with its existing provider, HSBC UK Bank Plc ( "HSBC"). 

The new RCF provides Manolete with the same level of facility as the previous arrangement, at £17.5m. However, the margin charged to Manolete by HSBC on the new RCF is at a reduced rate of 4.0% (previously 4.7%) over the Sterling Overnight Index Average (SONIA) and has a reduced non-utilisation fee, from 1.88% to 1.40%. 

The new RCF is a 3.25-year facility with an initial maturity of 27 June 2028. Manolete has the option to further extend the facility on its current terms by an additional year. 

The covenants remain unchanged except for the Asset Cover covenant which has been relaxed for the next six months. 

Steven Cooklin, CEO commented: "We are delighted to have secured a new long-term commitment to the business from HSBC, which is testament to the strong partnership we have established since 2018. The improved terms of the facility demonstrate confidence in the Manolete business." 

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). 

Announcements Commercial Deals

Angeion Group Expands Mass Tort Litigation Management Capabilities Through Merger with Case Works

By Harry Moran |

Angeion Group (“Angeion”), the industry leader in end-to-end group litigation support, announced today its merger with Case Works, a premier provider of case data management solutions, including client engagement, medical record retrieval, medical review, and inventory analysis. Neutral, but never passive, this strategic integration of Case Works reinforces Angeion’s forward thinking approach to providing seamless tech-enabled support for complex litigation firms and leading law departments, with efficiency and precision.

The merger of Angeion and Case Works follows majority investments into both companies by private equity firm Renovus Capital Partners (“Renovus”) in 2024. Angeion also acquired bankruptcy administration solutions provider Donlin Recano in late 2024. Renovus worked alongside the companies’ founders and management teams to unify the businesses and deliver a seamless experience for clients and employees throughout the integration.

Case Works has earned a reputation of excellence by ensuring accuracy, completeness, and applicability of case data to support legal requirements. By combining their core capabilities with Angeion’s advanced technology and data-driven approach, this merger further solidifies Angeion’s position as the most trusted partner for navigating complex, high-stakes litigation and settlements.

Effective large-scale litigation and settlements rely on comprehensive, well-organized data and the ability to apply that data effectively within the context of a particular project. Combining Case Works’ proven excellence in capturing and managing critical case information with Angeion Group’s expertise in technology, process efficiency and claims management, provides a more structured, more transparent, and more effective approach to large-scale litigation and settlement management.

“Case Works brings deep expertise and a proven track record of supporting firms with large data and medical record retrieval needs. They are known for their dedication to precision, care and bedside manner,” said Steven Weisbrot, CEO of Angeion Group. “Together, we are raising the bar for what clients can expect—faster, more accurate processes and a commitment to white glove service.”

Angeion Group and Case Works share a common vision: to set the new standard for how large-scale litigation and group settlement support can combine technological efficiency with thoughtful human interaction. Both organizations are driven by a commitment to innovation, precision, and efficiency and are mindful that litigants should expect and receive compassion and respect throughout the group litigation process. This merger will elevate industry standards and ensure that all parties, their council, and the courts benefit from a more streamlined, thoughtful and effective process.

“We’re excited to join forces with Angeion Group,” said Susan Barfield, Founder of Case Works. “Their commitment to innovation and client service aligns perfectly with our own, and we look forward to delivering even greater value to the firms and clients we support.”

“We’re honored to have partnered with these leading companies, building upon our strong track record in tech-enabled legal services,” added Lee Minkoff, Managing Director at Renovus. “We’d also like to thank founders Steve Weisbrot and Susan Barfield for their leadership throughout this game changing merger for the group litigation support industry.”

Angeion remains steadfast in its mission to completely modernize and optimize complex litigation management to the benefit of all stakeholders.

About Case Works

Case Works is the leading provider of tech-enabled litigation support solutions to the country’s premier plaintiff law firms. Based in Austin, Texas, the Company was created with a single mission: To Help Lawyers Help People. Case Works provides a full suite of case management services including claims qualification, intake, medical records retrieval & review, case development, and ongoing plaintiff engagement.

About Angeion Group

Angeion Group is a leading provider of legal notice and settlement administration services, leveraging advanced technology, proven best practices, and expert consulting to manage class actions, mass torts, and collective redress administration. Recognized for its innovation, efficiency, and unwavering client commitment, Angeion Group continues to redefine industry standards.