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Commercial Deals

North Wall Capital Bets Big On Funding For ESG Litigation

North Wall Capital, an alternative investment firm, has bolstered its investment in PGMBM with £100 million in financing, after an initial funding of £50 million in the London-based law firm. This additional finance has been pledged to support PGMBM in taking on more high-profile ESG litigation, following on from the firm’s $7 billion case against global mining giant, BHP Group. Reporting from Bloomberg highlighted that this is part of a wider strategy from North Wall to finance ESG-specific litigation, reflecting the increasing focus on environmental claims being brought against major multinationals. North Wall’s chief investment officer and founder, Fabian Chrobog, stated that this fund will provide PGMBM with a large capital asset whilst allowing the firm to pursue a broader array of claims oriented around ESG issues.
Commercial Deals

Burford Capital Eyes Further Minority Stakes In Firms

Following on from its investment in London fraud specialist PCB Byrne, litigation funding giant Burford Capital is seeking additional opportunities to take minority stakes in law firms. Burford’s managing director for UK and Europe, John Lazar, has stated that these Alternative Business Structures (ABS) allow firms to drive innovation and raise capital, without adding any risk or connection to market volatility following an IPO. Speaking with Legal Futures, Mr Lazar described how engaging with firms through an ABS can provide litigation finance companies opportunities to strengthen their own position, while allowing law firms to focus on enhancing their operations and services. These arrangements do not preclude Burford from recommending other firms, and Lazar stressed that Burford would only recommend firms it had invested in where appropriate, and that any ownership stake would always be disclosed to clients. In addition, Lazar discussed how this move dovetails with Burford’s efforts to support increased diversity in the industry through its Equity Project, which has already committed $57m since 2018 to cases that are led by women. This effort continues with a new target of $100m, which will also see the initiative focusing on increasing racial diversity and LGBT representation among law firms.
Commercial Deals

AxiaFunder Sees Continued Growth On The Horizon

AxiaFunder, the innovative litigation funding platform, has strengthened its offering with a new product which will allow investors to spread their funds across dozens of cases, whilst retaining the potential for high returns. AxiaFunder’s growing portfolio allows retail and high-net-worth investors to fund litigation both in the UK and across the globe, by profiling commercial cases that are evaluated by its team for maximum potential upside. In a recent Peer2Peer Finance News article, AxiaFunder elaborated on its approach to these funding deals. While the cases it has focused on since its initial rollout have mostly been housing disputes, it is planning to offer its investor base a wider array of commercial litigation and major arbitration cases. Drawing from a team of former lawyers and investment professionals, AxiaFunder is seeking to reduce risk for these investors who are keen to engage with the litigation funding market, by scrutinizing each case against a strict list of criteria. Since 2019, AxiaFunder has supported 14 commercial cases, but sees strong potential growth in volume in the coming years, with plans to target not only individual investors but also institutional funds looking to diversify their funding.
Commercial

Litigation Funding In Singapore Sees Growth Through Insolvency

The evolution of Singapore’s approach to litigation funding has continued, with a recent case widening the scope of third party funding in regards to insolvency matters. The Castlewood Group case saw an expansion of the potential types of funders permitted in these cases, as the court approved Castlewood utilizing a subgroup of creditors to fund its litigation. Karry Lai of IFLR examined these developments in an article, highlighting that the increase in the type of third party funders allowed for insolvency cases is part of a larger trend that has seen litigation finance increase in popularity in Singapore. Funding is already allowed within domestic arbitration cases, and this latest development may just be a milestone on the road to further acceptance of third party funding in a wider variety of cases. Providing further commentary, Mark Seah of Dentons Rodyk warned funders against expecting a universal expansion across all areas of litigation. He points out that Singapore will be keen to avoid overly commercializing litigation, but we may see opportunities arise within specific sectors.  Seah makes the case that if litigation funding were permitted for domestic claims in the high court, this could open avenues for those currently unable to press their claims or seek justice due to financial constraints.
Commercial Deals

Woodsford Research on Innovative and Offensive ESG Litigation

ESG litigation is becoming a hot topic for global litigation financiers. Bob Koneck (Director of Litigation Finance and Legal Counsel at Woodsford) suggests companies approach ESG litigation proactively rather than passively. Mr. Koneck claims that corporate lawyers may find value in offensive ESG litigation to further finance business goals.  Koneck says that meaningful ESG awards can be captured by aggressively protecting firm business lines from ESG abusers. Mr. Koneck suggests that ESG litigation should be approached as a profit center, rather than a balance sheet liability.  Litigation Finance Journal has collated 16 highlights to Mr. Koneck's research as an added bonus. 
Commercial Fundraising

The Baltic Litigation Fund and Arbitration Finance Innovation 

The first arbitration fund of the Baltic States has been launched, dubbed the Baltic Litigation Fund. Licensed by the Bank of Lithuania, the Baltic Litigation Fund will focus on developing strategies for arbitration across Eastern and Central Europe.  Verslo žinios UAB reports that the Baltic Litigation Fund aims to invest up to €1M in 10 arbitration negotiations over the near future. The fund’s management expects to consider cases involving fraud, Middle East and offshore investments along with delinquent credit agreements.  The Baltic Litigation Fund forecasts that investors may see a return on their investment within the 2025 time-frame.
Commercial

VWM Capital’s Six Litigation Finance Guides

London's VWM Capital has composed a group of six litigation finance handbook guides, covering the ins and outs of the modern third party investor. VWM also covers topics such as attorney ethics and best practices for the future of litigation finance innovation.  The six guides also include a historical timeline of key dates that have shaped the global litigation finance ecosystem. Additionally, VWM shares insights into what the future of litigation investment may look like, with the engagement of technology such as AI and other logic-based systems and processes.  The set of VWM guides offer attorneys with ample resources to help educate potential claimants on the value proposition of litigation investment.
Commercial Deals

Global Mining Bosses Seek Liquidity and Legal Enterprise Portfolio Building 

With the rapid development of litigation franchises around the planet, savvy litigation investors are researching litigation opportunities in the mining sector. Jeffery Commission (Director at Burford Capital) explains how his enterprise is shaping international mining claims inside a legacy fund portfolio.  Mr. Commission says that numerous sovereign mining contracts will be forced to renegotiate terms and conditions. Many fear that opportunistic adversaries may seek to defraud individuals and group investors.  Burford's research notes that between 1966 and 202, 25% of global arbitration at the International Center for Settlement of Investor Disputes has oil, gas and mining companies seeking resolutions.
Commercial People Moves Regulatory Issues

The Centre for Climate Change Economics and Policy on Global Trends in ESG Litigation 

Litigation Finance Journal has collated 107 highlights to Joana Setzer and Catherine Higham's international ESG research published by the Centre for Climate Change Economics and Policy. In summary, all indicators signal a decade of cross-border climate litigation ahead for humanity as a whole.  Key themes from the Global Trends in Climate Change Litigation include a significant increase in strategic litigation focused on market makers in New York. According to sources used by Setzer and Hingham, financial markets in the United States have yet to meet a group like ClientEarth, which has dominated the European ESG litigation scene.  Further emphasis is being placed on clumsy climate funds front-running ESG strategies. Al Gore and Apple's latest fund could be impacted, according to the Centre for Climate Change Economics and Policy.