On the topic of third-party legal funding, trial judges past and present have much to say. Hearing them out can tell us a lot about how the industry is perceived by the courts and how that may impact its future. A recent interview with Judge Shira Scheindlin includes three questions that shed light on how courts view the practice of litigation funding.
The Competition Appeals Tribunal has granted permission for a class action against British Telecommunications to move forward. The action could be worth as much as GBP 600 million, and asserts rampant overcharging of landline customers. The action is being funded by third-party funder Harbour Litigation Funding.
Fortress Investment Group LLC (“Fortress”) today announced that following the acquisition of Vannin Capital by funds managed by Fortress in 2019, the operations of Vannin Capital are now being restructured into the Fortress Legal Assets business.
Omni Bridgeway (formerly known in the US as Bentham IMF) is pleased to announce a significant expansion of its US investment team to accommodate its growth in the world’s hottest legal finance market. In addition to adding four brand new investment professionals, we are thrilled to announce the promotion of four team members who have been key players on our US team.
As more investors discover the benefits of Litigation Finance, funders have had to become more proactive about funding cases. Collective action cases are particularly attractive to funders due to large class sizes and the potential for high payouts. As the industry becomes larger and more influential, innovations abound.
With demand for litigation finance continuing to grow among businesses of all sizes, leading dispute funder Validity Finance reports it has raised a new managed fund of $70 million in capital commitments. The newly raised “sidecar” fund further diversifies Validity’s business and advances its experience as an alternative asset manager. To date, Validity’s third-party managed funds total nearly $150 million of assets under management, in addition to its permanent capital base.
Day two of of the two-day event saw a trio of panels that covered topics such as investment strategy and risk management, the interplay between fund types, and litigation finance as a tool for ESG.
