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Commercial Fundraising

CASL Banks $155MM Australian Investment 

CASL, the Australian-based litigation funder, has announced on the company’s LinkedIn profile that it has secured a $155MM AUD investment. According to its website, CASL reports an aggregated length of industry experience totaling 76 years, and a 92% case success rate. Of the nearly 200 claims the company has funded, CASL has realized close to $3 billion in settlements.   Find out more here. 
Commercial Regulatory Issues

New Insights: Litigation and Arbitration Treaties

Interesting insights into the modernization of rules and processes regarding litigation and international arbitration treaties have been published by Litigation Capital Management (LCM). Themes suggested include the growing demand for transparency in third party litigation and arbitration agreements.  LCM reports that the evolution of litigation investment hinges on squashing unnecessary confusion and conflicts throughout the litigation lifecycle. LCM suggests that in some jurisdictions, litigation finance is being debated as illegitimate due to transparency concerns. Hence, investors in legal franchise products and services should emphasize their embrace of transparency.  According to LCM, structural imbalances may preclude bad investments in international claims, meaning the sector has plenty of upside potential going forward.
Commercial Legal Innovation

Legal Dive Explores the Evolution of Legal Investment Economics 

Researchers around the world are providing examples of litigation finance becoming an increasingly important asset class. This, as investors are on the hunt for high return opportunities with compounding portfolio effects.  LegalDive.com has issued a report that investigates the nature of litigation finance in terms of being considered a serious legal asset class. With scrutiny never in short supply, Legal Dive suggests that litigation financiers are on the cusp of real innovative approaches to products and services to help support the rule of international law.  Click here to read more.
Commercial Legal Innovation

Erasmus’ Litigation Investment Innovation Library 

Erasmus Law Review hosts white papers from 10 of Europe's top legal finance scholars. The library highlights major developments and barriers to litigation financiers.  Litigation Finance Journal’s compilation of the Erasmus legal investment library’s LF-based white papers includes a diverse library of subject matter, including regulatory issues in Australia, European litigation funding, and the role of BTE and ATE insurance.  The Erasmus library provides some dense material, yet these deep-dives can provide industry stakeholders with the opportunity to explore niche segments of the market not typically covered in more mainstream publications.
Commercial

Video: The Stress of Legal Investment  

Mass Tort News (MTN) has produced a new video feature profiling Dr. Maria-Vittoria Carminati (Business Development VP at LexShares) discussing her new book, "The Livable Law Method." Dr. Carminati discusses bespoke techniques and methods for innovators in law managing burnout stress.  Based on her expansive case history specializing in commercial litigation, Dr. Carminati discusses how important it is for attorneys and legal professionals to focus on medical health and mental hygiene. Carminati notes the obvious value in a self care regime. She also highlights the next generation benefits of developing team care exercises for wider exponential benefits for innovative legal franchises.  Dr. Carminati says overcoming burnout has been helpful while in her role at LexShares.
Commercial Legal Innovation

Hackers Are Targeting High Value Litigation

According to Reuters, a group called the World Association Detectives is cultivating an elite group of hackers to aid in litigation case discovery. These hackers come from places such as Germany and India, and will funnel key intelligence to clients all over the world.   Reuters reports these 'hackers for hire' spy on individuals (on both sides of a case) to glean perspectives on facts and figures with the aim of securing high value litigation awards. Hackers leverage a suite of techniques, including spoofing and phishing scams on attorneys in order to gain access to privileged documents that can help sway a litigation battle. In some cases, the hackers sent emails from porn sites, and in others used scandalous news headlines to lure unsuspecting victims into clicking the links.  Claimants, lawyers and litigation funders need to be aware of the shady tactics being deployed against the industry. It seems that in the modern age, no sector is safe from malicious spying.
Case Developments Commercial

Italian Corrugated Cardboard Cartel Collective Action 

It is being alleged that Corrugated Cardboard products have been organized under a "cartel structure" in Italy over a 13-year period. Two contract structures have been identified as being designed to manipulate markets, comprising corrugated and packaging cardboard materials.  Deminor is investing in potential victims of the Cartel to join a collective action with efforts to recoup fees and damages associated with cardboard packaging price fixing. Deminor suggests that the Cartel organized sophisticated evidentiary architectures with managed competitive price severities. Estimated damage fines assessed by the Italian Competition Authority are upwards of €287M.  Deminor is seeking potential claimants who purchased packaging from Cartel companies between 2004 and 2017 to apply for review.
Commercial Deals

Post COVID-19 Legal Finance Outlook

Christopher Bogart (CEO at Burford Capital) recently published an essay profiling the legal finance industry from a post-COVID mindset. Mr. Bogart says that many lessons were gleaned from the pandemic experience. Bogart suggests that delays in litigation calendars due to the pandemic are starting to become less problematic.  Mr. Bogart notes that the legal finance industry continues to evolve as a maturing line of business for many third party investors. Commercial litigation is turning to litigation finance as part of innovative bottom line management.  Bogart explains that post COVID-19 business enterprise could be impacted by tough economic times ahead, and highlights that litigation financiers historically have been party to exponential industry growth in both boom and bust economic cycles.  Mr. Bogart concludes that the takeaway here is that attorneys around the world are turning to legal finance products and services to meet client demands. 
Commercial

The European Litigation Funders Association to Launch Operations 

Omni Bridgeway, Deminor and Nivalion AG have teamed up to organize the launch of the European Litigation Funders Association (ELFA). Tasked with helping expand legal finance innovation across Europe, ELFA will represent industry best practices before international governments and legal associations.  According to ELFA, Wieger Wielinga (Managing Director, EMEA Omni Bridgeway) will be the inaugural Chairman of the association. Additionally, Marcel Wegmuller (Co-Founder and Co-CEO of Nivalion AG) and Charles Demoulin (Chief Investment Officer of Deminor) will serve as directors.  ELFA says the organization will be open to legal finance franchises of all sizes. Prospective members will need to accept ELFA's code of conduct.  Read more about ELFA's planned organizational activities here: ELFAssociqtion.eu.