Westfleet Advisors, the leading U.S. litigation finance advisory firm, announced today that it has expanded its executive team with the addition of Wendie Childress as Managing Director and Counsel. Ms. Childress was most recently an Investment Advisor at commercial litigation funder Validity Finance, where she forged and deepened relationships throughout the U.S. legal market and advised parties seeking funding through all stages of the process. "We are delighted to attract such high-quality talent and extensive industry experience to our team, enabling us to expand our capacity to serve our growing client base," said Charles Agee, Founder and CEO of Westfleet Advisors. "Wendie's background is especially well-suited for the type of advisory services we provide, and we are pleased to bolster our presence in the growing and underserved Texas market as well.""I'm thrilled to join Charles and his talented team at Westfleet and excited to combine my experience as a litigation funder and trial counsel for the benefit of parties seeking litigation funding," said Ms. Childress. "There is obviously a continuity with what I have done in my years in the litigation finance industry, but an important draw for me in joining Westfleet is the ability to serve counsel and their clients in new ways. I can now help them secure the most favorable terms and find the best structural fit across a vast array of options industrywide."Ms. Childress brings substantial litigation experience to her new role at Westfleet, having spent seventeen years at top trial boutique Yetter Coleman, LLP, where she represented plaintiffs and defendants in complex commercial litigation and arbitration. "Not only has Wendie developed deal expertise over many years in the litigation finance industry, she also perfectly understands the issues and concerns of Westfleet's core audience because she has been in their shoes," Agee added."Having seen the challenges and opportunities of complex legal disputes from the perspective of both counsel and funder, I appreciate the need for clients to have a bona fide expert on their litigation financing deal team. And by closely advising clients through the process, I can help trial counsel stay focused on what matters most – winning the case," said Childress. "Also, in publishing objective industry analysis and research, Westfleet carries its commitment to transparency well beyond our individual client engagements. That matters a great deal to me and to my colleagues in the bar."
In this episode, we spoke with Steve Nober, President and CEO of Consumer Attorney Marketing Group, or CAMG. Steve discussed why mass torts are so popular right now, why smart money is moving into the sector, how litigation funders can structure their investments into mass torts, what ethical issues they need to be aware of, and much more. [podcast_episode episode="11840" content="title,player,details"]
Opposition to the use of litigation funding and calls for increased regulation of the industry are not uncommon, but have traditionally focused on claims that the practice incentivizes frivolous litigation, or that the lack of transparency is damaging to the judicial system. However, a new hearing announced in the US House of Representatives takes on the issue from a different angle, alleging that third-party funding is being exploited by ‘left-wing activists’.The House Committee on Oversight and Accountability announced yesterday that it would be holding a hearing on Wednesday, September 13, titled “Unsuitable Litigation: Oversight of Third-Party Litigation Funding.” The purpose of the hearing, according to the press release, is to “investigate how left-wing activists are funding litigation against companies and agencies to achieve liberal policy goals”, whilst also examining issues around funders’ level of control in lawsuits.Representative James Comer (R-Ky), chairman of the committee, provided the following statement as part of the announcement: “Private equity and left-wing billionaires are funding litigation against companies and agencies in an all-out effort to sway policy and determine outcomes in the courtroom. These tactics are not only being used consistently to push an agenda, but also seek to enable agencies to implement burdensome regulations and avoid public scrutiny. The House Oversight Committee must work to prevent financiers from hijacking America’s courtrooms, and I look forward to hearing from witnesses on how Congress can also address these litigation schemes to protect industry and consumers.”The witnesses who will appear before the committee will include:
Maya Steinitz, Professor of Law, Boston University School of Law
Erik Milito, President, National Ocean Industries Association
Julie Lucas, Executive Director, MiningMinnesota
Aviva Wein, Assistant General Counsel, Johnson & Johnson
There has been understandable concern, in the weeks since the Supreme Court’s judgement in PACCAR, that the appetite among funders to support large group actions in the UK might be diminishing. However, there are little signs of any slowdown in new funding commitments, as a new class action targeting Google and funded by Hereford Litigation was just announced.An article in The Guardian covers a new class action that has been filed with the Competition Appeal Tribunal, alleging that Google’s anti-competitive behaviour in the search engine market has caused an increase in prices for consumers across the whole UK economy. The class action, which is being led by Hausfeld and funded by Hereford Litigation, is seeking an estimated £7.3 billion compensation to account for the approximately 65 million users of Google in the UK.Luke Streatfield, partner at Hausfeld, explained that at the core of this claim is the allegation that “Google has choked off competition in search engines for years, to the detriment of the businesses that use its services – and, ultimately, consumers.” As a result of these monopolistic and anti-competitive behaviours, consumers have been faced with “higher prices and poorer quality” across a range of sectors. In response to the lawsuit, a spokesperson for Google provided the following statement: “This case is speculative and opportunistic – we will argue against it vigorously. People use Google because it is helpful. We only make money if ads are useful and relevant, as indicated by clicks – at a price that is set by a real-time auction. Advertising plays a crucial role in helping people discover new businesses, new causes and new products.”
Providing financing for class actions remains one of the best possible engagements for litigation funders, as it represents not only the potential for lucrative returns, but also epitomizes the mission statement of funders to widen access to justice and support communities who lack the resources to seek compensation. A funding announcement for another class action in Western Australia, this one seeking legal redress for homeowners from a construction group, is a pertinent reminder of the positive impact that funders can have.Reporting by WAtoday covers the announcement from Morgan Alteruthemeyer Legal Group that it has secured funding from Omni Bridgeway to pursue a class action against BGC Housing Group, representing homeowners who suffered financial losses from delays in BGC’s construction of the houses. The class action in federal court could represent up to 5000 homeowners who signed contracts with BGC between July 2019 and June 2022.Spencer Lieberfreund, partner at Morgan Alteruthemeyer Legal Group, explained that the funding agreement with Omni Bridgeway would allow the firm to bring the class action, whilst providing “individuals a way of seeking financial compensation without being exposed personally to legal costs.” BGC Proposed Class Action Group, a grassroots organization that has been raising awareness of the issues facing BGC homeowners, welcomed the news of Omni Bridgeway’s involvement and joined Lieberfruend in encouraging other homeowners to register for the lawsuit. Jess Spithoven, one of the founders of the campaign group, emphasized that “securing funding to commence a class action is not enough,” and that the most important thing was for all BGC homeowners to join the class action. At present, Spithoven’s organisation counts more than 2200 homeowners as members.Homeowners are encouraged to register their interest in the class action through Omni Bridgeway’s BGC Class Action website.
Wendy Chou is the Founder and CEO of Dealmakers Forums, operating with 20+ years of experience in marketing, communications, events, and business development. She created the first series of intellectual property monetization and finance conferences starting in the early 2000s — a number of those conferences are still being held on an annual basis. That’s what sparked her interest in the sectors where legal, finance, and tech converge. Since then, Wendy has served as CMO for a financial services firm, led a marketing agency, and in her various roles, has produced over 100 successful events in IP, litigation finance, and other complex markets. She’s become a big believer in the power of events. If designed and executed well, she believes an event experience can bring people together, build community, stimulate thinking and creativity, advance both personal and professional objectives, and even move industries and markets forward. Dealmakers Forums curates meaningful event experiences and content for senior executives in the legal, finance and technology industries, bringing together a selection of organizations and individuals who are working at the forefront of the industries we serve to facilitate deep discussions onstage and offstage, and to make valuable new connections that lead to collaborations and strengthen existing relationships. For ten years our IP Dealmakers Forum has been the “must-attend” event for decision makers driving IP transactions. Upon its debut in 2018, our inaugural LF Dealmakers event likewise became the “go-to” conference for litigation finance. In 2022 Wendy created LINE, a digital publishing platform, to share perspectives from our community year-round. Find out more at: DealmakersForums.com Below is our LFJ Conversation with Wendy Chou: This is the 6th annual LF Dealmakers Forum! Hard to believe it has been six years already. What have you noticed in terms of how the industry has evolved over the years? Absolutely, it’s remarkable to think that this marks the sixth annual LF Dealmakers Forum! During this time, we’ve witnessed significant transformations within the litigation finance industry. One of the most striking changes has been the overall growth in both size and scope of the industry. In addition to an increased acceptance of litigation finance as a legitimate and valuable tool, the industry has evolved into a multifaceted ecosystem with a diverse range of players and products. In just six years, we’ve gone from primarily talking about single-case funding to discussions involving various insurance products, co-investing partnerships, innovative deal structures, and even secondary market transactions. The industry has also become more global in scope, with cross-border partnerships and international cases becoming more prevalent. It's truly exciting to witness the growth and evolution of this industry. Having said that, there are of course the challenges and controversies inherent in a maturing industry that benefit from having a space for continued dialogue. That’s why I believe LF Dealmakers has grown alongside the industry, as we provide a necessary forum for discussion, debate, and dealmaking. What can we expect at this year's conference? Any speakers or agenda items you'd like to highlight? This year's LF Dealmakers promises to be our most impactful event yet, featuring a diverse range of sessions and discussions. One of the sessions I’d like to highlight is, "The Great Debate: Trust and Transparency in Litigation Finance." In this session, we'll bring together leading experts who hold differing perspectives for an open dialogue and insightful exchange on critical issues such as disclosure, control, ethics, and conflicts of interest. We’re particularly excited to have the U.S. Chamber of Commerce participating in the discussion via their Institute for Legal Reform. They are not typically a participant in public debate on this topic, and I feel honored to host them at LF Dealmakers. I think you’ll be surprised to hear what they have to say. These aren’t always easy discussions, but we don’t shy away from reality and controversy, especially when it is necessary and can be productive to the advancement of industry practices. Alongside this, we've curated a lineup of distinguished speakers who are experts in various facets of litigation finance and the broader landscape of legal finance and risk management. Our agenda is filled with panel discussions covering topics ranging from emerging trends to navigating regulatory challenges to best practices and lessons learned. I’d say that over the years of LF Dealmakers the discussions have become much more advanced, and often provide practical takeaways for funders, funded parties, and others, including how to negotiate the best deals and address the inevitable issues that arise post-funding. So we are looking forward to hearing about those aspects of the industry and much more this year. The industry is facing some headwinds at the moment. How will issues like the recent UK Supreme Court ruling and the impact of inflationary pressure factor into this year's conference? The recent UK Supreme Court ruling and the challenges posed by inflationary pressures are indeed significant concerns within the industry, both of which will certainly come up in discussions this year. We also have dedicated sessions specifically addressing the headwind issues including a policy briefing session covering the latest in US federal, state, and forum-specific (e.g. Delaware) treatment of litigation funding as well as the industry response. A prominent expert and lobbyist from the American Legal Finance Association will address both the consumer and commercial fronts and where pending legislation and efforts would impact both. We believe that openly discussing these challenges and exploring solutions will help attendees navigate these headwinds more effectively. How would you recommend that litigation funding stakeholders make the most of this year's conference? First of all, I’d like to note that we’ve expanded the event this year, to include a pre-conference workshop on navigating the mass tort landscape and an opening reception the evening before, so attendees should plan on getting to NYC early to attend those events. Other than that, I would advise litigation funding stakeholders to come prepared to engage in robust discussions and networking opportunities. Take advantage of the diverse perspectives shared by our speakers and fellow attendees, attend the sessions to gain practical insights that can be applied directly to your strategies and most importantly, don't be afraid to ask questions and participate actively in the panels. It wouldn’t be a Dealmakers event without mentioning the one-to-one meetings. As in past years, attendees will have the opportunity to book 30-minute meetings with one another to occur throughout the event, and because the audience is curated, there should be plenty of options for productive discussions with new and existing clients and partners. The conference is a prime opportunity to foster connections, share knowledge, and explore new collaborations. What is it like for you--the conference organizer--during this multi-day event? Do you have time to enjoy the discussions and networking, or are you overwhelmed with last minute hiccups? Well, as they say, it’s not my first rodeo. Seriously, as the conference organizer, these multi-day events are both exhilarating and demanding. The key is that I've built a fantastic team that helps manage the logistical details. This allows me to actively engage in the discussions and networking opportunities. Of course, there are always last-minute hiccups that require quick thinking and problem-solving, but I've come to embrace these challenges as part of the experience. Ultimately, witnessing the exchange of ideas, the forging of partnerships, and the enthusiasm of attendees makes all the hard work incredibly rewarding. Who was it that said change is the only constant in life? I believe that wholeheartedly. Once you accept that, your mind shifts from thinking “why are there waves” to “how can I best ride these waves” (and yes, I took up surfing on one of my post conference vacations)!
Wendy Chou es la fundadora y consejera delegada de Dealmakers Forums, con más de 20 años de experiencia en marketing, comunicaciones, eventos y desarrollo empresarial. Creó la primera serie de conferencias sobre monetización y financiación de la propiedad intelectual a principios de la década de 2000, varias de las cuales se siguen celebrando anualmente. Eso fue lo que despertó su interés por los sectores en los que convergen el derecho, las finanzas y la tecnología. Desde entonces, Wendy ha sido CMO de una empresa de servicios financieros, ha dirigido una agencia de marketing y, en sus diversas funciones, ha producido más de 100 eventos de éxito en PI, financiación de litigios y otros mercados complejos. Se ha convertido en una gran creyente en el poder de los eventos. Si se diseña y ejecuta bien, cree que la experiencia de un evento puede unir a la gente, crear comunidad, estimular el pensamiento y la creatividad, hacer avanzar los objetivos personales y profesionales, e incluso hacer avanzar a las industrias y los mercados. Dealmakers Forums organiza eventos y contenidos significativos para altos ejecutivos de los sectores jurídico, financiero y tecnológico, reuniendo a una selección de organizaciones y personas que trabajan en la vanguardia de los sectores a los que servimos para facilitar debates profundos en el escenario y fuera de él, y para establecer nuevas y valiosas conexiones que conduzcan a colaboraciones y refuercen las relaciones existentes. Durante diez años, nuestro Foro IP Dealmakers ha sido el evento de “obligada asistencia” para los responsables de la toma de decisiones que impulsan las transacciones de PI. Tras su debut en 2018, nuestro evento inaugural LF Dealmakers se convirtió asimismo en la conferencia “de referencia” para la financiación de litigios. En 2022, Wendy creó LINE, una plataforma de publicación digital, para compartir las perspectivas de nuestra comunidad durante todo el año. Más información en: DealmakersForums.com A continuación encontrarás nuestra Conversación LFJ con Wendy Chou: ¡Este es el 6º Foro anual de LF Dealmakers! Cuesta creer que ya hayan pasado seis años. ¿Qué has notado en cuanto a la evolución del sector a lo largo de los años? Desde luego, ¡es extraordinario pensar que éste es el sexto Foro anual de LF Dealmakers! Durante este tiempo, hemos sido testigos de importantes transformaciones en el sector de la financiación de litigios. Uno de los cambios más sorprendentes ha sido el crecimiento general tanto del tamaño como del alcance del sector. Además de una mayor aceptación de la financiación de litigios como herramienta legítima y valiosa, el sector ha evolucionado hasta convertirse en un ecosistema polifacético con una diversa gama de actores y productos. En sólo seis años, hemos pasado de hablar principalmente de la financiación de un solo caso a debatir sobre diversos productos de seguros, asociaciones de coinversión, estructuras de acuerdos innovadoras e incluso transacciones en el mercado secundario. El sector también ha adquirido un alcance más global, con asociaciones transfronterizas y casos internacionales cada vez más frecuentes. Es realmente emocionante ser testigo del crecimiento y la evolución de esta industria. Dicho esto, existen por supuesto los retos y controversias inherentes a una industria en proceso de maduración que se benefician de disponer de un espacio para el diálogo continuo. Por eso creo que LF Dealmakers ha crecido a la par que el sector, ya que proporcionamos un foro necesario para la discusión, el debate y la negociación. ¿Qué podemos esperar de la conferencia de este año? ¿Algún ponente o punto del orden del día que te gustaría destacar? El LF Dealmakers de este año promete ser nuestro evento más impactante hasta la fecha, con una amplia gama de sesiones y debates. Una de las sesiones que me gustaría destacar es “El Gran Debate: Confianza y Transparencia en la Financiación de Litigios”. En esta sesión, reuniremos a destacados expertos que mantienen perspectivas diferentes para mantener un diálogo abierto y un intercambio perspicaz sobre cuestiones críticas como la divulgación, el control, la ética y los conflictos de intereses. Estamos especialmente contentos de que la Cámara de Comercio de EE.UU. participe en el debate a través de su Instituto para la Reforma Legal. No suelen participar en el debate público sobre este tema, y me siento honrado de acogerles en LF Dealmakers. Creo que te sorprenderá oír lo que tienen que decir. No siempre son debates fáciles, pero no rehuimos la realidad y la controversia, sobre todo cuando son necesarias y pueden ser productivas para el avance de las prácticas del sector. Además, hemos preparado un elenco de distinguidos ponentes expertos en diversas facetas de la financiación de litigios y en el panorama más amplio de las finanzas jurídicas y la gestión de riesgos. Nuestra agenda está repleta de mesas redondas que abarcan temas que van desde las tendencias emergentes a la navegación por los retos normativos, pasando por las mejores prácticas y las lecciones aprendidas. Diría que, con los años de LF Dealmakers, los debates se han vuelto mucho más avanzados, y a menudo ofrecen conclusiones prácticas para financiadores, partes financiadas y otros, incluido cómo negociar los mejores acuerdos y abordar los inevitables problemas que surgen tras la financiación. Así que estamos deseando oír hablar de esos aspectos del sector y de mucho más este año. El sector se enfrenta actualmente a algunos vientos en contra. ¿Cómo influirán cuestiones como la reciente sentencia del Tribunal Supremo del Reino Unido y el impacto de la presión inflacionista en la conferencia de este año? La reciente sentencia del Tribunal Supremo del Reino Unido y los retos que plantean las presiones inflacionistas son, en efecto, preocupaciones importantes dentro del sector, y ambas surgirán sin duda en los debates de este año. También tenemos sesiones dedicadas específicamente a las cuestiones de los vientos en contra, incluida una sesión informativa sobre políticas que cubre lo último en el tratamiento de la financiación de litigios en EE.UU. a nivel federal, estatal y de foros específicos (por ejemplo, Delaware), así como la respuesta del sector. Un destacado experto y miembro de un grupo de presión de la Asociación Americana de Financiación Jurídica abordará los frentes comercial y del consumidor, y las repercusiones de la legislación y los esfuerzos pendientes en ambos. Creemos que debatir abiertamente estos retos y explorar soluciones ayudará a los asistentes a sortear estos vientos en contra con mayor eficacia. ¿Cómo recomendarías a las partes interesadas en la financiación de litigios que aprovecharan al máximo la conferencia de este año? En primer lugar, me gustaría señalar que este año hemos ampliado el evento, para incluir un taller previo a la conferencia sobre cómo navegar por el panorama de los daños masivos y una recepción de apertura la noche anterior, por lo que los asistentes deben planear llegar pronto a Nueva York para asistir a esos eventos. Aparte de eso, aconsejaría a las partes interesadas en la financiación de litigios que vengan preparadas para participar en intensos debates y oportunidades de establecer contactos. Aprovecha las diversas perspectivas compartidas por nuestros ponentes y compañeros asistentes, asiste a las sesiones para obtener ideas prácticas que puedas aplicar directamente a tus estrategias y, lo más importante, no tengas miedo de hacer preguntas y participar activamente en los paneles. No sería un evento Dealmakers sin mencionar las reuniones individuales. Como en años anteriores, los asistentes tendrán la oportunidad de concertar reuniones de 30 minutos entre ellos, que tendrán lugar a lo largo del evento, y como la audiencia es selecta, debería haber muchas opciones para mantener conversaciones productivas con clientes y socios nuevos y existentes. La conferencia es una oportunidad excelente para fomentar las conexiones, compartir conocimientos y explorar nuevas colaboraciones. ¿Cómo es para ti -el organizador de la conferencia- este evento de varios días? ¿Tienes tiempo para disfrutar de los debates y del trabajo en red, o estás abrumado por los contratiempos de última hora? Bueno, como suele decirse, no es mi primer rodeo. En serio, como organizadora de la conferencia, estos eventos de varios días son tan estimulantes como exigentes. La clave es que he formado un equipo fantástico que me ayuda a gestionar los detalles logísticos. Esto me permite participar activamente en los debates y en las oportunidades de establecer contactos. Por supuesto, siempre hay contratiempos de última hora que requieren rapidez mental y resolución de problemas, pero he llegado a aceptar estos retos como parte de la experiencia. En última instancia, ser testigo del intercambio de ideas, la creación de asociaciones y el entusiasmo de los asistentes hace que todo el duro trabajo sea increíblemente gratificante. ¿Quién dijo que el cambio es la única constante en la vida? Yo lo creo de todo corazón. Una vez que lo aceptas, tu mente pasa de pensar “¿por qué hay olas?” a “¿cuál es la mejor manera de cabalgar estas olas?” (y sí, me aficioné al surf en una de mis vacaciones posteriores a la conferencia).
Silver Bull Resources Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull” or the “Company”) is pleased to announce that it has secured funding for its international arbitration proceedings against the United Mexican States (“Mexico”) under the Agreement between the United States of America, Mexico, and Canada (the “USMCA”) and the North American Free Trade Agreement (“NAFTA”).HIGHLIGHTSLitigation Funding Agreement (“LFA”) signed with Bench Walk Advisors LLC (“Bench Walk”) to pursue international arbitration claims against Mexico for breaches of its obligations under NAFTA.
The LFA facility is available for immediate draw down and provides funding to cover legal, tribunal and external expert costs and corporate operating expenses associated with the Company.
US$9.5 million is provided as a purchase of a contingent entitlement to damages in the event that a damages award is recovered from Mexico.
Legal counsel for the claim is Boies Schiller Flexner (UK) LLP (“BSF”), an international law firm with extensive experience in international investment arbitration concerning mining and other natural resources, to act on its behalf. The BSF Team will be led by Timothy L. Foden, a noted practitioner in the mining arbitration space.
The arbitration arises from Mexico’s unlawful expropriation and other unlawful treatment of Silver Bull and its investments resulting from an illegal blockade of Silver Bull’s Sierra Mojada project that began in September 2019 and continues to this day.
Silver Bull’s CEO, Mr. Tim Barry commented, “Whilst it had been Silver Bull’s intention to continue developing the Sierra Mojada Project, an illegal blockade by a small group of local miners trying to extort and force an underserved royalty payment from the Company began in September 2019 and continues to this day. Despite numerous requests to the Mexican Government to uphold the law and end the illegal blockade, the Government failed to act, preventing Silver Bull from accessing the site for over four years and preventing the Company from conducting its lawful business in Mexico. The direct actions and inactions by the Mexican Government has driven away investors from the project and resulted in the expropriation of the Sierra Mojada project.“The substantial litigation funding secured under the LFA is a testament to the strength of Silver Bull’s claims. The US$9.5 million funding facility is non-dilutive to Silver Bull shareholders and will cover the full legal budget of the claim, expert, and ancillary costs, as well as Silver Bull’s operating expenses. Bench Walk will have a contingent entitlement to damages in the event that damages are awarded.”Mr. Barry continued, “We note that other companies have successfully enforced their rights through international arbitration and received substantial sums for damages. Recent examples of this include (i) a US$110 million award issued by the World Bank International Centre for Settlement of Investment Disputes (“ICSID”) tribunal in August 2023 to Indiana Resources Ltd. regarding the revocation of its mining license by the Tanzanian Government in 2018, which case was led by our legal counsel Tim Foden from BSF, and (ii) a US$5.8 billion award issued by the World Bank ICSID tribunal to Barrick Gold/Antofagasta regarding Pakistan’s unlawful denial of a mining permit for the Reko Diq copper project.”BACKGROUND TO THE CLAIM: The arbitration has been initiated under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States process, which falls under the auspices of the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), to which Mexico is a signatory.Silver Bull officially notified Mexico on March 2, 2023 of its intention to initiate an arbitration owing to Mexico’s breaches of NAFTA by unlawfully expropriating Silver Bull’s investments without compensation, failing to provide Silver Bull and its investments with fair and equitable treatment or full protection and security, and not upholding NAFTA’s national treatment standard.Silver Bull held a meeting with Mexican government officials in Mexico City on May 30, 2023, in an attempt to explore amicable settlement options and avoid arbitration. However, the 90-day period for amicable settlement under NAFTA expired on June 2, 2023, without a resolution.Despite repeated demands and requests for action by the Company, Mexico’s governmental agencies have allowed the unlawful blockade to continue, thereby failing to protect Silver Bull’s investments. Consequently, Silver Bull will seek to recover an amount of approximately US$178 million in damages that it has suffered due to Mexico’s breach of its obligations under NAFTA, which includes sunk costs of approximately US$82.5 million, usually considered minimum damages in such cases.THE SIERRA MOJADA DEPOSIT: Silver Bull’s only asset is the Sierra Mojada deposit located in Coahuila, Mexico. Sierra Mojada is an open pittable oxide deposit with a NI 43-101 compliant Measured and Indicated “global” Mineral Resource of 70.4 million tonnes grading 3.4% zinc and 38.6 g/t silver for 5.35 billion pounds of contained zinc and 87.4 million ounces of contained silver. Included within the “global” Mineral Resource is a Measured and Indicated “high grade zinc zone” of 13.5 million tonnes with an average grade of 11.2% zinc at a 6% cutoff, for 3.336 billion pounds of contained zinc, and a Measured and Indicated “high grade silver zone” of 15.2 million tonnes with an average grade of 114.9 g/t silver at a 50 g/t cutoff for 56.3 million contained ounces of silver. Mineralization remains open in the east, west, and northerly directions.For a full summary of the Sierra Mojada resource, please refer to Silver Bull’s news release located at the following link:https://www.silverbullresources.com/news/silver-bull-resources-announces-5.35-billion-pounds-zinc-87.4-million-ounces-silver-in-updated-sierra-mojada-measured-and/
Moving beyond single-case funding and actively supporting law firms through direct funding is certainly a tempting prospect for many funders, creating new avenues for lucrative returns on their investments. However, as LFJ recently reported, these investments can be risky where the funded law firm faces financial difficulties, or in this example, where the firm is the target of allegations of malpractice and barred from collecting case fees.An article in Reuters provides the details on the unusual case of McClenny, Moseley & Associates, a Texas law firm that is currently facing disciplinary proceedings in the Western District of Louisiana. The firm and its attorneys came under the courts’ scrutiny earlier this year after it had filed hundreds of lawsuits against insurers, on behalf of households who had suffered property damage from hurricanes. Allegations were leveled that the attorneys had “improperly solicited or paid for clients, brought claims against the wrong insurers, filed duplicate lawsuits or sued insurers that had already settled with their clients.” The Louisiana court has since suspended a group of the firm’s attorneys and, last month, prohibited them from collecting on any costs or fees from over 200 lawsuits it had filed in the district.However, the disciplinary case against McClenny, Moseley & Associates now has a new dimension, as two litigation funders, Equal Access Justice Fund and EAJF ESQ Fund, have asked U.S. District Judge James Cain to allow their participation in the disciplinary case. Having lent a combined $30 million to the law firm, the funders argued in their filing that they “need a seat at the table because the existing parties have not adequately represented (nor are they expected to adequately represent) the Lenders’ interests.”According to Reuters’ reporting, the funders are also pursuing litigation against the law firm in a Texas state court, as they seek to protect their investment which may now be in danger if the suspended law firm is not allowed to collect on any proceeds from the funded cases.
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