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LOANCHECK SA COMPLETES ITS SUCCESSFUL BRIDGE FINANCING ROUND. |
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LoanCheck SA today announced that it had successfully raised the full
round of bridge finance from ThomasLloyd Secured Finance Fund. This
capital will be used further to grow its litigation finance
subsidiary, Ascot Legal Services.
LoanCheck is the leading supplier of forensic information and audit
services for borrowers in the United Kingdom. Through its operating
subsidiary, Severn Administration Ltd, the company operates
'www.loancheck.co.uk'. At no initial cost, the website allows
borrowers to check whether they have been correctly charged fees and
interest on any mortgage or consumer loan. Should there be cause for
a claim, the company then offers a range of services to help
consumers seek redress.
In late 2008, the company extended its business model into the
provision of litigation finance, in order to help less fortunate
claimants secure pre-financing of their legal costs. The company
believes that in the current economic climate, this is a key
service. As Tim Hadley, CEO of LoanCheck SA says, 'We aim to make
justice affordable for everyone.'
This new round of finance will enable Ascot Legal Services to
increase its funding to solicitors, who take up these cases of
mis-sold and mis-priced consumer loans and mortgages. Says Michael
Sieg of the ThomasLloyd Secured Finance Fund, 'We were very excited
when first introduced to LoanCheck. It offers a very important
social service to many people, at their time of greatest
vulnerability and greatest need.'
- Ends -
Enquiries:
ThomasLloyd Group plc +41 44
213 6767
Tony Coveney, Executive Director
ThomasLloyd Capital LLC +1 212
331 7829
Anna Brescia, Vice President
ThomasLloyd Secured Finance Fund +41 44
213 6700
Michael Sieg, General Partner
LoanCheck SA
Tim Hadley, +44 174
CEO 3709 090
- Notes to Editors -
About ThomasLloyd Group plc
ThomasLloyd is a full-service global investment banking, securities
and investment management firm that provides a diverse range of
financial products and services worldwide to a select client base
that includes corporations, financial intermediaries, institutional
clients and high-net-worth individuals.
Founded as an alternative asset management company in Germany 2003,
ThomasLloyd expanded through a combination of organic growth and
strategic acquisitions and today comprises of two business divisions:
Investment Banking, and Investment Management where it manages USD
1.9 billion of fee generating assets. The company employs more than
70 professionals internationally, offering all its core activities in
Americas and Europe and select activities in the Middle East and
Asia.
About ThomasLloyd Secured Finance Fund
The ThomasLloyd Secured Finance Fund has been recently launched to
provide short term bridge financing to companies with strong
collateral and clear business vision. Investors in the fund have
direct access to deals, which a bank traditionally would have done
for its own account. The fund will generate returns comparable to a
fixed income product, but with an added equity return. This will be
generated through a warrant portfolio, which the fund will secure as
part of its loan terms.
About LoanCheck SA
Listed on the Frankfurt Stock Exchange, ISIN LU0374350667, LoanCheck
SA is a leading provider of forensic research into consumer loans and
mortgages. Through it subsidiary, Ascot Legal Services Ltd, the
company also provides litigation finance to clients who have a strong
claim against their lender. The company was originally founded in
2007 and listed on the Frankfurt Exchange in the summer of 2008.
Most recently, the company has launched 2 new services; the LoanCheck
Gold Service, for clients seeking faster redress, and the Payment
Protection Insurance Service. The PPI service is a direct response
client feedback and dissatisfaction with this discredited product.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement. Copyright © Hugin AS 2009. All rights reserved.
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