Impact Holdings (UK) Plc Update on Supreme Court Hearing

 
TIDMIHUK 
 
Impact Holdings (UK) plc 
 
                          ("Impact" or "the Company") 
 
             Update on Supreme Court hearing dated 30th June 2016 
 
Impact Holdings (UK) plc advises following the hearing on 30th June 2016 at the 
Supreme Court between Impact Funding Solutions Limited ("IFSL") and AIG Europe 
Insurance UK Limited ("AIG") the Court found in favour of AIG. This may trigger 
the contingent liability detailed in the 2016 Financial Statements, note 23. 
 
The Supreme Court is considered to have brought to conclusion the mitigation 
claims pursued by IFSL against various solicitor practices with the effect that 
IFSL can now continue with its claim against the ultimate defendant.  The Board 
is presently taking professional advice from its legal team on the implications 
of this judgement. It is the Board's opinion that this decision enhances its 
claim against the ultimate defendant. 
 
A further announcement will be made when appropriate advice has been taken. 
 
For further enquiries: 
 
Impact Holdings (UK) plc                       Paul Davies, Chief Executive 
Officer 
 
Tel: 01928 793550 
 
Zeus Capital Limited                               Andrew Jones 
 
                                                            Tel: 0161 831 1512 
 
 
 
END

(END) Dow Jones Newswires

October 26, 2016 07:11 ET (11:11 GMT)

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