Current economic conditions are making it more challenging to run a business regardless of industry. In the legal world, budgets are shrinking and GCs, already stretched to the brink, are taking on even more costs. An ability to adapt to circumstances while finding ways to save money is of the essence.
August 27, 2020—It’s a question many are now confronting, and it has nothing to do with the law: “When will we get paid?”
The FCA or ‘False Claims Act’ has secured more than $3 billion in settlements or judgments in civil cases in the 2019 fiscal year alone. Much of that relates to healthcare claims, and nearly two-thirds involve relators—which is another term for whistleblowers. This is not surprising, given the widespread application of Qui Tam provisions that offer a portion of an award to whistleblowers who assist the prosecution with cases under the FCA.
At what point might a David become a Goliath? Some would say that Litigation Finance is the catalyst for such a transformation. Take the case of Akiane Kramarik and the famed portrait of Jesus she painted at age nine. Over the years, she’s been the subject of television appearances, media events, and even a big-budget film. But as she grew up, missing royalty payments and other shady dealings began to emerge.
Global Energy Horizons Corp (GEHC) an alternative energy corporation headquartered in Victoria, British Columbia, Canada has won a significant Judgment against The Winros Partnership (formerly Rosenblatt Solicitors) a City of London based law firm.
WEST CALDWELL, N.J., Aug. 24, 2020 /PRNewswire/ — Legal-Bay, the premier Pre Settlement Funding Company, announced today that they have expanded their car accident and personal injury departments due to the influx of new filings during the first half of 2020. Legal-Bay is one of the leading lawsuit loan companies in the industry, and offers a very fast approval process.
DOHA, Qatar, Aug. 24, 2020 /PRNewswire/ — The Swifthold Foundation, which was defrauded by Sheikh Fahad bin Ahmad bin Mohamed bin Thani Al Thani, a member of the Qatari Royal Family, and his Qatari company, Fast Trading Group, has been patiently waiting for the Qatari Enforcement Court to enforce Swifthold’s $6 billion U.K. High Court Judgment since the Qatari Trial Court issued a Writ of Execution to formally recognize the Judgment in Qatar in the Summer of 2019.
All eyes are on a fee request from Quinn, Emanuel, Urquhart, & Sullivan. The class action, which revolved around Obamacare and insurers left unpaid after Congress neglected to pay promised subsidies, was completed in April when the US Supreme Court ruled that insurers were owed roughly $12 billion in unpaid subsidies meant to cover Americans without insurance.
India appears to be the latest country to embrace the practice of Litigation Finance—at least in theory. The Indian Prime Minister, Narendra Modi, recently spoke about foreign investment opportunities in India. One of the many types of foreign investments being encouraged is third-party litigation funding. This leaves some asking whether or not the Indian judicial system is ready for the practice.
