Update on Covenant Waiver, Case & Strategic Review
Litigation Capital Management Limited has secured an extension of its debt covenant waiver from Northleaf until June 30, 2026, with the existing 2.00% per annum interest increase remaining in effect without an additional waiver fee. The company also reported negative developments in two case investments, representing approximately A$9 million of invested capital, which are expected to result in material write-downs in upcoming financial statements. These events occur as the company's strategic review, initiated in September 2025, continues, with the waiver extension demonstrating Northleaf's ongoing support during LCM's efforts to resolve its capital position.
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Litigation Capital Management Limited ("LCM"), an alternative asset manager specialising in dispute financing solutions internationally, announces that the debt covenant waiver from Northleaf that was due to expire on 30 May 2026 has been extended to 30 June 2026. During the extended waiver period the interest on the loan remains increased by 2.00% per annum consistent with the initial waiver. There is no additional one-time waiver fee in relation to this extension.
LCM has recently received negative developments in relation to two of its case investments. These two matters have a combined LCM invested capital of approximately A$9 million. Management is reviewing these matters and expects to recognise material write-downs in relation to these investments in its next set of financial statements.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.