ots Ad hoc-Service: FORIS AG FORIS AG successfully opens up the market for litigation funding

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    Berlin (ots Ad hoc-Service) -      

    Half a year after its flotation on the Neuer Markt as the first financer of litigation in return for a share in the recovery upon success, FORIS AG sees its budget assumptions fully confirmed.

    By the end of the year the company had received over 1,200 enquiries about litigation financing with a total value of over DM1.5 billion. As of today's date FORIS AG has entered into 195 agreements with a total value of DM 188.7 million. The average value per action is therefore 14% above the budget assumptions made at the date of flotation. The same is true of the possible proceeds from litigation financing. With a 50% share in the successfully recovered amount, the entire option amounts to DM 94.35 million, assuming all actions are completely successful. FORIS AG's budget assumes a 60% success rate. Taking into account the costs to be borne in unsuccessful actions, these forecast figures would result in proceeds from litigation financing in the order of DM 47.1 million. On account of the duration of legal proceedings, a delay is to be expected in receipt of the proceeds which, however, accrue interest at the rate of at least 4% during the life of the contentious proceedings.

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