Fox Williams acted for City of London Group Plc (“COLG” or “the Company”) on its recent fundraising of up to £5 million to finance a portfolio of legal cases. COLG has agreed to issue 8% fixed rate unsecured 1 year loan notes to High Net Worth Clients of St Vincent Capital Limited (“SVC”) in advance of SVC establishing a fund to provide finance to Therium Capital Management Limited (“Therium”), which is 50% owned by COLG and provides litigation funding.

This series of loan notes will be available for up to £5 million of funds from clients of SVC and it is envisaged the Company will give one week’s notice to redeem the loan notes when SVC has established a fund, to allow SVC’s clients to re-invest in the fund. At that point, the fund established by SVC will acquire the rights and benefits to Therium’s portfolio of litigation cases, which will be funded at the outset from the proceeds of the loan notes issued by COLG.

COLG is an investment company, with a wide range of national and international investments. A public company since 1986, COLG has had a full London Stock Exchange listing since August 1996 (LSE Symbol CIN).

Paul Osborne, Head of Corporate at Fox Williams LLP handled the fund raise in conjunction with Senior Associate Howard Taylor.

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