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13.04.2011
ALF Group Pty Ltd - 1st Quarter Update and New Business Overview
ALF Group Pty Ltd - 1st Quarter Update and New Business Overview
SYDNEY Wednesday 13th April 2011 - Australian Litigation Funders ALF Group Pty Ltd, the main income generating daughter company of ALF Group Holdings AG, provides a first Quarter update of income and new business overview.
Australian legal firms and the courts are mostly closed until the third week 22nd January, however, the company managed to settle a number of matters, some are subject to confidentiality agreements. In summary, the matters settled in the first quarter of 2011 are:
• Mekrizis - Bankruptcy settlement. Settled and paid
• Wallace - Litigation settled. Court order in our favor and paid
• Robsat - Court order in our favour. Payment net 7 days
• Wilkins - Commercial settlement and paid
The above matters produced AUD$350,000 net of expenses in free cash to ALF.
New Matters signed in the first quarter of 2011:
• Miller - Claim against Australian Government of AUD$3m, with 50% commission to ALF
• Wily - Liquidator claim mortgage recovery of AUD$1m, with 35% commission to ALF
• Russo - Claim against lawyer for improper use of trust funds of AUD$890,000, with 40% commission to ALF
• Confidential client - Claim for percentage of property joint owned with family. Claim is AUD$300,000 with a fee of 35% to ALF.
This new business should produce in excess of AUD$2m in net revenue.
Additionally, there are several new matters that have been agreed and are in the process of final documentation.
About ALF Group Holdings AG
ALF Group Holdings AG (ALF) wholly owns ALF Group Pty Ltd and its subsidiaries, which includes one of Australia’s largest litigation funders, and a corporate restructuring services company which also provides funding and debt and equity solutions. It is also an acquirer and developer of distressed assets.
For further information please contact:
ALF Group Holdings AG
Level 29, Chifley Tower, 2 Chifley Square, Sydney, NSW 2000, Australia
Telephone +61-2-9293-2500
Fax +61-2-9293-2930
Website: www.alfgroupag.com
E-mail: info@alfgroupag.com
max. Equity Marketing GmbH
Maximilian Fischer, Marienplatz 2, 80331 Munich, Germany
Telephone +49 89 1392889 0
Fax +49 89 1392889 29
Website: www.max-em.de
E-mail: m.fischer@max-em.de
Legal Disclaimer
This press release contains forward-looking statements based on beliefs of ALF management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of ALF Group Holdings AG as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. ALF disclaims any intention or obligation to update these forward-looking statements.
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SYDNEY Wednesday 13th April 2011 - Australian Litigation Funders ALF Group Pty Ltd, the main income generating daughter company of ALF Group Holdings AG, provides a first Quarter update of income and new business overview.
Australian legal firms and the courts are mostly closed until the third week 22nd January, however, the company managed to settle a number of matters, some are subject to confidentiality agreements. In summary, the matters settled in the first quarter of 2011 are:
• Mekrizis - Bankruptcy settlement. Settled and paid
• Wallace - Litigation settled. Court order in our favor and paid
• Robsat - Court order in our favour. Payment net 7 days
• Wilkins - Commercial settlement and paid
The above matters produced AUD$350,000 net of expenses in free cash to ALF.
New Matters signed in the first quarter of 2011:
• Miller - Claim against Australian Government of AUD$3m, with 50% commission to ALF
• Wily - Liquidator claim mortgage recovery of AUD$1m, with 35% commission to ALF
• Russo - Claim against lawyer for improper use of trust funds of AUD$890,000, with 40% commission to ALF
• Confidential client - Claim for percentage of property joint owned with family. Claim is AUD$300,000 with a fee of 35% to ALF.
This new business should produce in excess of AUD$2m in net revenue.
Additionally, there are several new matters that have been agreed and are in the process of final documentation.
About ALF Group Holdings AG
ALF Group Holdings AG (ALF) wholly owns ALF Group Pty Ltd and its subsidiaries, which includes one of Australia’s largest litigation funders, and a corporate restructuring services company which also provides funding and debt and equity solutions. It is also an acquirer and developer of distressed assets.
For further information please contact:
ALF Group Holdings AG
Level 29, Chifley Tower, 2 Chifley Square, Sydney, NSW 2000, Australia
Telephone +61-2-9293-2500
Fax +61-2-9293-2930
Website: www.alfgroupag.com
E-mail: info@alfgroupag.com
max. Equity Marketing GmbH
Maximilian Fischer, Marienplatz 2, 80331 Munich, Germany
Telephone +49 89 1392889 0
Fax +49 89 1392889 29
Website: www.max-em.de
E-mail: m.fischer@max-em.de
Legal Disclaimer
This press release contains forward-looking statements based on beliefs of ALF management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of ALF Group Holdings AG as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. ALF disclaims any intention or obligation to update these forward-looking statements.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0121325671">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0121325671</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.