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IMF, IMF AUSTRALIA LTD
blacksheep
post Posted: Dec 2 2019, 03:05 PM
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Posts: 6,791
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SP up 9.43% @ $3.83 currently on this news - creates a big gap @ $3.50
BRISBANE FLOODS CLASS ACTION JUDGMENT
QUOTE
Summary

• IMF announces that the Supreme Court of New South Wales has found the defendants in
the Brisbane Floods class action to be liable in negligence to the group members.

• Consistent with the class action regime, issues common to all or a sub-set of the group
members, have been determined in the judgment but without an assessment of the amount
of damages payable by the defendants to each group member. Such an assessment
requires consideration of each group member’s respective claims for loss in line with the
Court’s findings.

• The lawyers acting for the group members, Maurice Blackburn, are reviewing the detailed
findings in the judgment and will update and advise the group members accordingly in due
course.

• IMF currently estimates, subject to the outcome of any appeals, that it is likely to recognise
income from this investment (including the reimbursement of IMF’s share of expended
costs, which are currently approximately $25 million) in the range of $100 million to $130
million.
The timing of such recognition is uncertain and will be subject to applicable
accounting standards. IMF notes that it is not possible at this stage to provide a more
precise estimate of future income due to the need for a detailed damages assessment to be
conducted for all group members.

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 8 2019, 07:01 PM
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In Reply To: blacksheep's post @ Aug 8 2019, 04:15 PM

A plug for the way IMF account for litigation assets in this tweet from MuddyWaters - should restore confidence in IMF

MuddyWatersResearch Verified account@muddywatersre

QUOTE
How you SHOULD account for litigation assets $BUR $IMFAU https://www.imf.com.au/newsroom/press-relea...capital-limited …


https://twitter.com/muddywatersre/status/1159356233947549696

Also interesting is this video interview with MW's Carson Block wherein he describes how Burford (allegedly) misleads investors about the returns on its cases by manipulating IRR and ROIC.
https://www.youtube.com/watch?v=bEBV6rXbqJ8...eature=youtu.be



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 8 2019, 04:15 PM
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Posts: 6,791
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In Reply To: blacksheep's post @ Aug 8 2019, 03:44 PM

Some serious damage to BUR holders

Muddy Waters Declares War on London Litigators
The implosion of Burford Capital's share price after a Muddy Waters short-seller attack raises questions about how it values its legal cases.

QUOTE
Investors who bought shares in the litigation finance specialist Burford Capital Ltd. when it listed on London’s Aim market in 2009 had enjoyed a more than 2,000% return by the time the stock peaked in the summer of 2018.

This week has been more sobering. On Wednesday the shares lost more than half of their value after Muddy Waters published a note casting doubt on the company’s seemingly stellar performance. Almost 2 billion pounds ($2.4 billion) of investor wealth has gone up in smoke since rumors of the short-selling firm’s interest first emerged on Tuesday.

https://www.bloomberg.com/opinion/articles/...burford-capital


Burford Capital shares down 65% in further blow to Neil Woodford
QUOTE
The fund manager Neil Woodford has been dealt a new blow after more than £1bn was wiped off the value of Burford Capital, the second largest holding in his suspended flagship fund.

QUOTE
Burford, which is chaired by the former Barclays boss and Treasury mandarin Sir Peter Middleton, had been one of the strongest performing stocks in Woodford’s portfolio

The fund manager, who was forced to shut his Woodford equity income fund in May following a surge in redemptions, holds a 7% stake in Burford.

Woodford’s former employer, Invesco, is Burford’s largest shareholder with a 14% stake in the business..

https://www.theguardian.com/business/2019/a...o-neil-woodford



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 8 2019, 03:44 PM
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Short seller Muddywaters - Carson Block - prompts IMF Bentham to defend it's own model following a report on IMF's UK rival - Burford Capital Ltd IMF's SP reached a low of $3.00 before bouncing back - currently $3.28 -2.09%

QUOTE
MARKET UPDATE
Summary

• IMF is aware of the report issued by a US investment firm on Wednesday, 7 August 2019
(Short Report) on Burford Capital Limited (Burford). IMF does not express a view on the
issues in the Short Report as they pertain to Burford. IMF notes the following in relation to
IMF’s accounting policies and disclosures:


O IMF’s litigation funding assets, and those of investment vehicles managed or
advised by IMF, are recognised at cost throughout the life of the investment. IMF
does not record any unrealised gains attributable to market value adjustments of its
litigation assets; and

O as stated in prior announcements, IMF calculates its aggregate Return on Invested
Capital (ROIC) and Internal Rate of Return (IRR) on concluded investments only
(excluding any partial conclusions, withdrawals and overheads). These metrics
include losses on concluded cases.

• IMF established funds with aggregate capital commitments of US$1 billion in FY19
(including commitments from IMF of US$200 million). This external capital secures IMF’s
medium-term funding requirements for its current and future litigation funding investments.

• In FY19, IMF completed an equity placement raising approximately $75 million, refreshed
the terms of its listed bonds pushing maturity out to FY23 and raising a further $41 million
from the issue of new bonds. More recently, IMF announced that it anticipates receiving
income of approximately $70 million in FY20 from conditional and in principle settlements
which have occurred since 1 July 2019 to date, of which $23.5 million relates to on-balance
sheet investments.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 23 2017, 04:52 PM
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Posts: 6,791
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The CBA class action could be a money spinner for IMF, who are bankrolling the class action by Maurice Blackburn Lawyers

Class action to be launched against CBA

QUOTE
It is being pitched as the biggest shareholder class action in the country. Commonwealth Bank on one side, and Maurice Blackburn bankrolled by IMF on the other side.


http://www.theage.com.au/business/banking-...822-gy21ev.html
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
ead83
post Posted: May 23 2010, 09:45 AM
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In Reply To: crystal's post @ May 21 2010, 12:53 PM

IMF is a cracker of a little company. Management are excellent, they are market leaders in class action funding with a monster potential portfolio and pay out great consistent dividends! smile.gif

 

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crystal
post Posted: May 21 2010, 12:53 PM
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bit like an oiler /miner ,if they hit paydirt ,the share will go up ,and maybe the banks will go down ?

holding up well today with some bot trading, up a cent

yesterdays chart

cheers mick

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OZGAZ
post Posted: Mar 19 2009, 10:09 AM
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This one just recently hit my radar after stumbling across the half yearly - not only are they one of the few in an uptrend (as stated previously) their workload is bound to increase over the coming years given that state of businesses atm. Also bear in mind how long these cases can drag on for as well....definately worth watching !!!!

Cheers

Ozgaz



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Smile while TRADING it's only money... :)
 
ead83
post Posted: Jan 28 2009, 02:33 PM
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Agree with you hungry, IMF is a little cracker of a company. They won't go out of business anytime soon with all the corporate fraud being exposed these days! wacko.gif

 
hungry
post Posted: Jan 28 2009, 12:47 PM
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Not a post from any person since 2006 & this is the only stock I have found that has been in an unfaltering uptrend since Feb 08. Even paid a div this month.
Pity I only heard of it when reading the latest Smart Investor mag blush.gif
It's a litigation funder - how ironic in the current era!
Now in a watchlist waiting for the next low.
Cheers

 
 


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