Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces that the Federal Court of Australia has delivered a judgment in the class action funded by LCM on behalf of the Queensland users of electricity against Stanwell Corporation Ltd and CS Energy Ltd (the “Judgment”).

The Judgment found against LCM’s funded party, the Queensland users of electricity. LCM has invested A$25m of its own balance sheet capital into this case to date.

There is a right of appeal from the Judgment which must be filed within 28 days. LCM is considering the Judgment with the legal team and any appeal will be filed in due course.

Patrick Moloney, CEO of LCM commented: “We will carefully review the Federal Court’s decision and, with the legal team, will assess the prospects of a successful appeal from the judgment. Our expectation has always been that an appeal in this case was likely, regardless of the initial outcome. We remain confident in the strength of the underlying claim.”

In the interview below LCM’s CEO Patrick Moloney outlines the Group’s performance and business model at last years Year End Results