Published on: April 8, 2020
VW emissions case holds significant potential
As well as its credit hire and related legal practice businesses, Anexo also operates an advocacy practice, with in-house barristers, which is headed by Executive Chairman, Alan Sellers. That team is involved in the high-profile Aston Hall abuse case and today’s announcement brings news of its significant role in the group litigation against Volkswagen (VW). Although no specific revenue or profit numbers are mooted, Anexo currently has around 8,000 clients and expects to gain more (while mitigating its exposure to the cost of acquiring new claimants). Litigation is ongoing so there is no guarantee of success, but the potential level of the impact on profits and cash flow clearly warrants an announcement from Anexo. Although Anexo withdrew forward estimate guidance recently, we note the very positive impact that a case settlement would bring.