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Owners of litigation funder Novitas set aside £90m for failed cases

26th January 2023

Law Gazette

The owner of failed legal sector lender Novitas is preparing to write off £90m after admitting that its book of cases is unlikely to come to anything.

In an update to the London Stock Exchange, merchant banking group Close Brothers Group plc, which bought Novitas Loans in 2017, said a review of cases had found some which now have ‘limited prospects of successfully progressing through the courts’.

Read the full article here: Law Gazette

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