Juridica, a provider of strategic capital for corporate legal claims to both businesses and the legal markets, provides the following portfolio update.
Two cases in the Company’s portfolio have reached settlement, with one being a definitive settlement agreement and the second being a partial settlement agreement and this latter case is ongoing. Gross proceeds from the definitive settlement agreement are expected to be approximately US$65 million and approximately US$800,000 from the partial settlement agreement. These gross proceed amounts will be reduced by tax and other reserves and Juridica expects net proceeds from both settlements to be transferred to the Company prior to the end of 2016.
Subject to the receipt of cash proceeds described above, the Board will consider the most appropriate way in which to distribute returns to shareholders.
These two case results represent approximately US$55 million of the US$126 million 2015 year-end NAV reported by the Company on 31 March 2016.
JIL : Juridica gets result in two cases