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TANGIBLE
FIXED ASSETS
Freehold Property
- The companies occupy a freehold office building situated on the
former RAF Airfield at Binbrook in Lincolnshire. The size of the
property is substantially in excess of the companies current requirements.
It is proposed to place this on the market immediately to assess
the potential interest in the property.
LEGAL
CLAIMS FUNDING
The
company funds the actions of claimants in personal injury claims
to enable them to pay their legal fees and related expenses, thus
enabling them to pursue their actions. There is currently £26
million outstanding. We have examined the documentation used, it
is a standard consumer loan agreement and there does not appear
to be any unusual lending within the sample we examined.
The value could
be affected if the insurance company which insures the adverse cost
risk is able to deny claims on the basis, inter alia, that continued
funding to pursue potentially successful claims was not available.
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