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Commercial Deals

International Legal Finance Association on Increasing Liquidity

The Global Legal Post reports that litigation financiers are experiencing increased cash flows with assets jumping more than 11% over the last year. With the jump in figures, Gary Barnett (Executive Director, International Legal Finance Association) says litigation finance is being widely accepted as a professional financial utility to access justice. Global Legal Post says that hedge funds are starting to look to litigation finance as an investment vehicle. Meanwhile, only 10% of cases presented to funders ultimately obtain funding. Funders are also considering a wide variety of additional products and services to offer potential customers.  Raymond van Hulst (EMEA Executive Director at Omni Bridgeway) warns that high liquidity may suffer in the near future. This, as inflation and interest rates are rising. Mr. van Hulst suggests that given these constraints, only the most attractive litigation finance franchises will be successful over the long term.
Announcements Commercial Deals

DLA Piper launches global partnership with UNHCR

DLA Piper today announces a new partnership with the UN Refugee Agency (UNHCR) that will see the two organisations working collaboratively to develop innovative responses to the global refugee crisis, enhance refugee integration and advocate for impactful, systemic change. During the first three years, DLA Piper will provide pro bono support worth over $3.7m and contribute financially to the agency’s global programmes.

The partnership has been developed in collaboration with UK for UNHCR, an organisation responsible for developing humanitarian partnerships with British corporations that support global relief efforts for refugees.

DLA Piper and UNHCR already have a long-established relationship spanning over ten years. Since 2012, the firm has provided more than 8,500 hours pro bono legal support valued at over USD 3,000,000 to UNHCR. This new phase of the partnership will focus on the co-development of innovative responses to the refugee crisis, including innovative finance models and impact investment, among other key areas.

According to UNHCR, there are now more than 100 million people who have been forcibly displaced from their homes. The number of displaced people has increased every year over the past decade and now stands at the highest level since records began. These unprecedented levels of displacement represent a global humanitarian emergency. The impact is especially pronounced on children, who account for 30% of the world's population, but 42% of all forcibly displaced people.

DLA Piper has long-standing commitment to working to protect the rights of refugees, displaced people and those who are stateless, with a particular focus on supporting the most vulnerable groups, including women, children and LGBT+ people. Human displacement has a number of components that are relevant to businesses as it affects how companies manage the relationship with their workforce, their value chain, the societies in which they operate and the political environment. Over the past ten years, the firm has worked to address the root causes and consequences of displacement by providing legal recognition for people on the move and supporting inclusion into destination countries.

This partnership with UNHCR is an extension of this work and DLA Piper’s ongoing commitment to protecting and upholding the rights of displaced people.

Simon Levine, Global Co-CEO, DLA Piper, said: “We are honoured to enhance our partnership with UNHCR. This is a unique opportunity to contribute to the organisation’s work and, ultimately, support displaced people all over the world. The current crisis in Ukraine is just one example of why UNHCR’s work is so critical.

“Legal protections are especially important when people’s lives are uprooted and they face challenges such as lack of basic shelter, violence, exploitation and restrictions on freedom of movement. As part of this new phase of the partnership, we will be working with UNHCR to support a fairer, more effective system, to develop new approaches and to help foster inclusion as people rebuild their lives.”

Jean-Pierre Douglas-Henry, Managing Director, Sustainability & Resilience, DLA Piper added: “This exciting partnership means we can amplify our work to protect the rights of displaced people globally. The partnership will involve innovative approaches to long-term issues that we hope will lead to positive and lasting change. At this crucial time our firm is excited to be collaborating with an organisation that is focused on building a better future for refugees.”

Emma Cherniavsky, Chief Executive of UK for UNHCR said: “We greatly value this new partnership with DLA Piper which builds on ten years of valuable support for UNHCR’s work. People fleeing conflict and persecution are amongst the most vulnerable people in the world, with many on the front lines of the climate crisis or facing significant barriers to employment, and DLA’s partnership will help deliver innovative solutions to support them.”

About DLA Piper

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com

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Commercial Deals

Video: Aera-IP on Litigation Finance in Europe and Abroad  

Patent and trademark litigation is forecast to increase as Europe’s Unified Patent Court (UPC) opens in Q4-22, or Q1-23. Aera-IP is a Nordic consultancy focused on serving clients with various EU IP claims. Aera-IP has published a series of videos profiling what legal professionals should expect when the UPC opens, and what funding opportunities may be available to inventors.  Aera-IP’s video discussions on the future of IP litigation are expansive, with four features totaling nearly two hours of discussion. Aera-IP features Stephanie Southwick (Investment Manager and Legal Counsel at Omni Bridgeway), in a near half-hour video discussing litigation investment insights for funding EU IP claims.  With the opening of Europe’s UPC, many are forecasting a wide range of international patent and trademark claims that could set historic precedent in terms of inventor protections. Click here to check out Aera-IP’s video discussions.
Commercial Legal Innovation

The Value of Appellate Funding 

The time and effort behind multi-year litigation is at the mercy of the appeals process. Litigation finance is rapidly being engaged to fund various approaches to the appeals process. Furthermore, quality appeals financing is often engaged in the form of judgment preservation insurance.    Woodsford has published the firm’s approach to investing in cases associated with appellate proceedings.  Bringing a case to court is contingent on financial planning and liquidity. The same can be said for navigating the appeals process. The concept of navigating the appeal of an award is generally not part of per-appeal litigation investment contracts. Those seeking to overturn claim awards via the appeals process may find it daunting  to be on the other end of claimants and their litigation funders, with ample resources at their disposal.  Adversaries often seek to leverage appellate pre-settlements as a negotiation exercise. Judgment preservation insurance is being embraced as a tool that mitigates recovery delays associated with the appeals process.
Commercial Legal Innovation

New York as Capital of International Arbitration Demand

Serving as the center of global finance, New York may soon grow to become the world’s capital of international arbitration proceedings. Today, New York is ranked sixth in the world for arbitration proceedings, tied with Beijing, China. New insights published by Burford Capital suggest that market forces are fostering a scenario for New York to move up arbitral ranks as world markets seek relative stability. This, as New York’s court system has historically been recognized as one of the world’s most legitimate, while also embracing responsible legal innovation.  Buford Capital’s research profiles international arbitration as the most agreeable way to settle cross-border disputes. Global jurisdictions such as Latin America, the Caribbean, the Middle East and North Africa are expected to experience an increase in claims seeking international arbitration as a solution to settle differences.  As global financial markets are forecast to ebb and flow over the near future, Burford seems to suggest that New York legal innovation has systematically survived the test of time. Making New York an agreeable destination for quality international arbitration proceedings.    Burford’s research points to a forecasted increase in international arbitration surrounding the construction industry. Similar to leading quality innovation in law, New York is also home to some of the world’s most notable success in construction. As investment in construction-based international arbitration proceedings is expected to increase, New York may take advantage of market share opportunities where possible.
Commercial

Legal Teams Support CEO and CFO Investment Vehicles 

Traditionally, CEOs and CFOs have approached legal expenses from a risk averse perspective. Yet litigation finance is increasingly being understood as a modern instrument of legal innovation and balance sheet protection. Something has got to give.  Burford Capital discusses these concepts in a new LinkedIn post that suggests corporates who engage litigation finance will reap rewards. Burford seemingly suggests that those who are not looking to leverage litigation investment as a tool will succumb to loss of market share. Burford suggests that CEOs and CFOs who design a portfolio of litigation assets may be respected as best-in-class in terms of financing quality litigation.   Litigation portfolio architecture is innovating litigation finance from a one case risk mitigation utility to a bundle of cases that hedge overall corporate and legal risks. Buford also suggests that law firms that engage in ethical litigation finance practices stand to inherit reputational benefits typically associated with legal innovation.   
Commercial Regulatory Issues

LexShares Debates Delaware’s Legal Finance Disclosure Guidelines  

Litigation Finance Journal has been covering Delaware’s Chief Judge, who has ordered  disclosure of litigation finance agreement details, in a move the court claims helps provide funder transparency (akin to KYC/AML). LexShares has published a debate on the significance of Delaware’s disclosure mandate, discussing the implications for quality United States regulation of the litigation finance industry.  Lexshare’s insights suggests a hawkish approach to disclosures, questioning if claimant interests are being promoted or protected. Traditionally, third party funders have been skeptical of mandatory disclosure of litigation agreements. LexShares seemingly suggests that common regulation of litigation investment is not on the horizon in the United States.  Litigation Finance Journal has reported the World Bank’s Settlement of Investment Disputes has adopted a common set of rules and regulations for third party legal investors. Meanwhile, in Singapore and Europe, universal rules and standards are being discussed as imminent requirements for the industry to reach its full potential.
Announcements Commercial People Moves

Apex Litigation Finance to appoint Stephen Allinson as ‘Head of Legal’

Litigation funding specialists, Apex Litigation Finance have announced the appointment of Stephen Allinson, Solicitor and Licensed Insolvency Practitioner, as their new Head of Legal. Stephen is a credit, debt and insolvency specialist who has worked in the field since 1987. His extensive background also includes setting up his own consultancy and before that he was a Business Recovery and Insolvency Partner at a major law firm. As well as acting as a consultant within the legal field, Stephen also pursues other projects in the legal, insolvency and credit fields, and is a Visiting Lecturer at the University of Law. In addition to Stephen’s extensive licensed insolvency work, he has also been an Associate Member of the Association of Property and Fixed Charge Receivers. A multi-disciplinary consultancy whose council is selected through leading members of combined professions, to offer professional support in property, legal and insolvency matters. Stephen says: "I am absolutely delighted to be joining the growing team at Apex. Without a doubt, litigation funding is now a vital area in the litigation sector. With its concentration on mid-tier claims, Apex is well placed to become a very important player in this market. I am looking forward to working with Maurice and the team, and with the many solicitors and insolvency colleagues who will, no doubt, wish to discuss opportunities with us." Furthermore, Stephen is no stranger to the position of Chairman as he was appointed Chairman of the Board of The Insolvency Service in January 2017, serving in that role until May 2021, and is also the Chairman of the Joint Insolvency Examination Board (JIEB), a member of ICAEW Investigation Committee and a Chairman of the Methodist Church Disciplinary Process. Apex CEO Maurice Power says: “We are excited to announce Stephen’s appointment and to welcome him to our growing team. His skill and experience will add real value to the Apex proposition and further cement our position as a litigation funder of choice for the insolvency sector.” Apex was proud to attend and to sponsor the first in person R3 National Conference since COVID. The Apex team thoroughly enjoyed greeting new and existing contacts and demonstrating how the Apex funding model is a perfect fit for insolvency litigation. As Apex continues to grow the team, they are keen to hear from interested individuals from various disciplines, including legal, insolvency, litigation funding, AI development, and business development. Specific litigation funding experience is not essential. Apex will look at an individual’s skillset and identify those who can contribute to their success. Interested applicants are asked to contact Apex via enquiries@apexlitigationfinance.com by sending a current cv and details of why they would be the right fit for Apex. About Apex Litigation Funding: Apex Litigation Finance Limited brings together experts from the legal and finance sectors to provide third party litigation funding to litigants (corporates, liquidators, and individuals) who are unable to pursue a claim due to the prohibitive cost of litigation. Although the claim may have merits, uncertainty over the total costs and the potential risk of being ordered to pay the defendant’s cost, should they lose the claim, prohibits access to justice for many claimants. Our process is augmented by artificial intelligence systems to assess risk. As a professional litigation funder, Apex will make available funds to pay legal and other costs associated with a claim in return for an agreed share of any successful return. If there is no recovery, or if the claim is lost, there is nothing to repay.   For details, please see www.apexlitigation.com
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