Ann: New Australian Funding Agreement, page-7

You are absolutely right Portfolio, thanks for the correction. For some reason I had the brain fart that 15% of claim value is settlement to be shared between IMF and plaintiffs (whereas IMF itself targets 15% of claim value). @imback - apologies are in order, then!

I don't follow LCA, thanks for highlighting. The only competitor I've briefly looked at is Burford, because I feel that going forward the majority of IMF's profitability will come from the US market given it's a market that dwarfs the Aus market in terms of scale. Unless IMF completely neglect the Aus market, I suspect that it is basically going to be going forward what it has been for the last decade - a business that can write $30-40m business per year, and will always be the first port of call for plaintiff firms looking to finance class actions. It'll win most cases, and occasionally flop others, but I look at IMF's Aus business as a pretty steady state proposition.