Trending Now

All Articles

3220 Articles

Litigation Funding Investment Market Report 2019 Analysis By Major Players; Sydney-based IMF Bentham Ltd., and Apex

The research report, titled “Global Litigation Funding Investment Market Size and Forecast to 2024,” proposes an evaluation of this market on the basis of its history as well as the present-day performance. The report further emphasizes on each of the topographical segments. The principal driving forces, restrictions, hindering factors, key trends, opportunities, and future prospects of the global market have also been taken into consideration in this market study. Get The Sample Copy Here @ https://bit.ly/331GTv2 Some of the key players operating in this market include: Sydney-based IMF Bentham Ltd., Apex Litigation Finance, and Many More. The report firstly introduced the Litigation Funding Investment market basics: definitions, classifications, applications and industry chain overview; industry policies and plans; product specifications; manufacturing processes; cost structures and so on. Then it analyzed the world's main region market conditions, including the product price, profit, capacity, production, capacity utilization, supply, demand and industry growth rate etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins. The report includes six parts, dealing with: 1) Basic information 2) The Asia Litigation Funding Investment market. 3) The North American Litigation Funding Investment industry. 4) The European Litigation Funding Investment industry. 5) Market entry and investment feasibility. 6) The report conclusion. TABLE OF CONTENT: •Industry Overview of Litigation Funding Investment Market •Manufacturing Cost Structure Analysis of Litigation Funding Investment Market •Technical Data and Manufacturing Plants Analysis of Litigation Funding Investment Market •Global Litigation Funding Investment Market Overview •Litigation Funding Investment Market Regional Market Analysis •Global (2019-2024) Litigation Funding Investment Market Segment Market Analysis (by Type) •Global (2019-2024) Litigation Funding Investment Market Segment Market Analysis (by Application) •Major Manufacturers Analysis of Litigation Funding Investment Market •Development Trend of Analysis of Litigation Funding Investment Market •Consumers Analysis of Litigation Funding Investment Market •Conclusion of the Global Litigation Funding Investment Market Professional Survey Report 2019 Full Report Description @ https://bit.ly/331GTv2 About us Market research is the new buzzword in the market, which helps in understanding the market potential of any product in the market. This helps in understanding the market players and the growth forecast of the products and so the company. This is where market research companies come into the picture. Reports And Markets is not just another company in this domain but is a part of a veteran group called Algoro Research Consultants Pvt. Ltd. It offers premium progressive statistical surveying, market research reports, analysis & forecast data for a wide range of sectors both for the government and private agencies all across the world. Contact Us: Sanjay Jain Manager - Partner Relations & International Marketing info@reportsandmarkets.com Ph: +1-214-736-7666 (US) +1-352-353-0818 (US) This release was published on openPR.
Read More

Crowdfunding Litigation Market Industry: global market trends, share, size and forecast report 2019-2024

Global Crowdfunding Litigation Market Report 2019 is a professional and in-depth research report on the world's major regional market conditions of the Crowdfunding Litigation industry, focusing on the main regions (North America, Europe and Asia) and the main countries (United States, Germany, Japan and China). Get The Sample Copy Here @ bit.ly/2K3XzLb Some of the key players operating in this market include: AxiaFunder’s, Burford Capital,and IMF Bentham The report firstly introduced the Crowdfunding Litigation market basics: definitions, classifications, applications and industry chain overview; industry policies and plans; product specifications; manufacturing processes; cost structures and so on. Then it analyzed the world's main region market conditions, including the product price, profit, capacity, production, capacity utilization, supply, demand and industry growth rate. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis. The report includes six parts, dealing with: 1) Basic information 2) The Asia Crowdfunding Litigation market. 3) The North American Crowdfunding Litigation industry. 4) The European Crowdfunding Litigation industry. 5) Market entry and investment feasibility. 6) The report conclusion. TABLE OF CONTENT:
    • Industry Overview of Crowdfunding Litigation Marke
    • Manufacturing Cost Structure Analysis of Crowdfunding Litigation Market
    • Technical Data and Manufacturing Plants Analysis of Crowdfunding Litigation Market
    • Global Crowdfunding Litigation Market Overview
    • Crowdfunding Litigation Market Regional Market Analysis
    • Global (2019-2026) Crowdfunding Litigation Market Segment Market Analysis (by Type)
    • Global (2019-2026) Crowdfunding Litigation Market Segment Market Analysis (by Application)
    • Major Manufacturers Analysis of Crowdfunding Litigation Market
    • Development Trend of Analysis of Crowdfunding Litigation Market
    • Consumers Analysis of Crowdfunding Litigation Market
    • Conclusion of the Global Crowdfunding Litigation Market Professional Survey Report 2019
Full Report Description @ bit.ly/2K3XzLb
Company about: Reports And Markets are part of the Algoro Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Are you mastering your market? Do you know what the market potential is for your product, who the market players are and what the growth forecast is? We offer standard global, regional or country specific market research studies for almost every market you can imagine ...
 
Read More

Enforcement in the UK is a Growing Problem

With no automatic enforcement mechanism in place and only 60% of awards under £10,000 being fully enforced, the UK is experiencing a crisis of enforcement. Given that litigation funders must take collection risk into account when proposing an investment thesis, it's worth examining the current enforcement climate in the UK in greater detail. As reported in The Law Gazette, if the defendant fails to pay a court order, the claimant must return to the court and file additional forms (which carry additional fees) merely to enforce the judgment. In small-claims cases, this becomes so burdensome that the aforementioned 60% of awards are never claimed. One solution bandied about is the digitization of the enforcement process. In fact, HMCTS’s £1bn courts and tribunals reform program is set to do just that. The only catch? The program isn't due to come online until 2023. In the meantime, Lord Justice Briggs - who called the issue of enforcement the 'Achilles heel' of the court system in his 2016 civil court review - has appealed for a broader approach to centralizing the process, including the launch of an Online Court to resolve disputes up to £25,000. Unfortunately, given the inherent complexities of enforcement, not many are holding their breath. In higher-value cases - especially cross-border disputes - forms and filing fees are the least of a party's concerns. Take the ongoing saga of Russian oligarch Farkhad Akhmedov's ex-wife Tatiana, who partnered with Burford Capital to enforce a £453 million divorce settlement. Part of the settlement includes impounding Akhmedov's super-yacht, the M.V. Luna, which was slated for collection until a Dubai court overruled the UK High Court's decision to impound. All of this, and we haven't even touched on Brexit, which will surely throw a monkey wrench into the enforcement mechanism of UK courts. Until some form of harmonization takes place, funders will have to account for the added risk of enforcement.

China Lending Forges Partnerships to Accelerate the Development of Its Consumer Financing Business and Expand into Litigation Guarantee Business

BEIJING, URUMQI, China and HANGZHOU, ChinaJuly 29, 2019 /PRNewswire/ -- China Lending Corporation ("China Lending" or the "Company") (NASDAQ: CLDC), a non-bank financial corporation servicing micro, small and medium sized enterprises in China, today announced that it has entered into a five-year strategic partnership with Zhong Lian Jin An Insurance Brokers Co., Ltd. ("ZLJA"), a leading insurance brokerage company in China with over 90 branches across the nation. The partnership will enable both companies to further expand each other's customer bases and to develop superior, customized consumer financing and insurance products by leveraging their industry expertise, service capabilities, and industry networks. China Lending will utilize its market resources to help ZLJA to effectively expand and manage its insurance customer base and sales channels. In return, ZLJA will leverage its existing customer base to identify potential sales leads for the Company's consumer financing services. The Company also facilitated a tripartite cooperation agreement between ZLJA, Urumqi Haoyi Yuntian Information Technology Co., Ltd. ("Haoyi Yuntian"), a business partner of China Lending, and Gongdao Network Technology Co., Ltd. ("Gongdao") which is focused on developing online litigation solutions. Pursuant to the cooperation agreement, ZLJA will acquire customers seeking litigation guarantee insurance products from Gongdao's online litigation portal and serve as the exclusive insurance broker for such customers in the Xinjiang Uyghur Autonomous Region, and Haoyi Yuntian will provide intellectual property support for the litigation guarantee insurance business. China Lending expects to benefit economically from the transactions by virtue of its partnerships with ZLJA and Haoyi Yuntian. Ms. Jingping Li, co-founder and chief executive officer of China Lending, commented, "We believe that our partnerships with both ZLJA and Gongdao will facilitate our expansion into the insurance business in the Xinjiang Uyghur Autonomous Region. We expect that such expansion will enable us to expand our customer base, diversify our revenue streams, and explore additional monetization opportunities. Our partnerships with industry leaders such as ZLJA and Gongdao are representative of our ongoing efforts to expand into new business verticals while enhancing the quality of our product offerings. Going forward, we will continue to focus on cultivating synergies with our partners. We will also continue to explore new business opportunities with our partners to expand our customer bases and increase our market share while promoting the mutual development of our businesses." About China Lending Corporation  Founded in 2009, China Lending is a non-bank financial corporation and provides comprehensive financial services to micro, small and medium sized enterprises, and individuals. China Lending has headquarters in Urumqi, the capital of Xinjiang Autonomous Region, and Hangzhou, the capital of Zhejiang province. For more information, please visit: www.chinalending.com. Safe Harbor Statement  This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed partnership, and can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations of the consummation of the proposed partnership, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. IR Contact: 
At the Company:
Katrina Wu
Email: wuxiaoqing@chinalending.com 
Phone: +86-991-316-9617 Investor Relations:
Jack Wang
ICR Inc.
Email: ICR-TMT@icrinc.com 
Phone: +1 646-224-6936 SOURCE China Lending Corporation

Related Links

http://www.chinalending.com
Read More

Collective Action Led by Scott+Scott Europe LLP Launched in the UK Against Major Banks for Foreign Exchange Market Manipulation

London – 29 July, 2019 – A collective action under the Consumer Rights Act 2015 was filed today in the UK’s Competition Appeal Tribunal (CAT) by Scott+Scott Europe LLP against five banks who unlawfully manipulated the foreign exchange (FX) market between 2007 and 2013. The representative of the claimant group, Michael O’Higgins, has filed against Barclays plc, Citibank, Royal Bank of Scotland plc, JPMorgan and UBS on behalf of affected entities, including pension funds, asset managers, hedge funds and corporates. This collective action is being funded by Therium Capital Management, a leading global litigation funder. This legal action follows the European Commission’s (EC) ruling on 16 May 2019 that the above banks had violated EU competition law. The five banks have now been fined more than $8.5bn collectively by eleven regulators globally. The EC held that the banks had exchanged commercially sensitive information and trading plans, coordinating their trading strategies via two cartels. The claim is being brought through the CAT as a collective action on an opt out basis so that all eligible affected entities will benefit from any damages awarded without incurring the prohibitive and duplicative costs of bringing individual claims and without the class having to pay legal fees and costs from any recovery. Michael O’Higgins, director of Michael O’Higgins FX Class Representative Limited, the company set up to bring this claim, is the former Chairman of the Pensions Regulator. He is currently Chairman of the Local Pensions Partnership and of the Channel Island Competition and Regulatory Authorities. “The fines imposed on the banks by the European Commission were an important first step, but they will not compensate those who were damaged or suffered losses. Just as compensation has been won in the US, our legal action in the UK will seek to return hundreds of millions of pounds to pension funds and other corporates who were targeted by the cartel,” said O’Higgins. O’Higgins has instructed Scott+Scott Europe LLP, a specialist dispute resolution firm whose solicitors have extensive expertise in competition litigation. Its US affiliate, Scott+Scott Attorneys at Law LLP, originated and led a class action in the United States against fifteen banks for manipulating the FX market, obtaining over $2.3bn in settlements for which final approval was granted on 6 August 2018.  The Class Representative has also instructed a highly experienced barrister team from Brick Court Chambers led by Daniel Jowell QC. “The FX class action in the US led to widespread relief,” said David R. Scott, Managing Partner of Scott+Scott. “Our experience with this litigation gives us a tremendous advantage in pursuing this case on behalf of victims in the UK and abroad so that they also receive fair and equitable compensation.  Michael O’Higgins’ experience in the pensions industry, which the banks specifically targeted, make him ideally placed to run this claim on behalf of this class.” Who is Eligible? If your business is UK domiciled, and has entered into relevant FX transactions, it is automatically included within the class. If your business has entered into relevant FX transactions but is not UK domiciled (and is not US, Canadian or Australian domiciled), you can formally opt in via www.UKFXcartelclaim.com as soon as the claim is certified. Will there be any costs for class members? Class members will not pay costs or fees to participate in this legal action. The legal action is being funded by Therium Capital Management, a leading global third-party litigation funder, which has funded a large number of high-profile group legal actions in the UK and abroad. In addition to this, Michael O’Higgins FX Class Representative Limited has taken out after-the-event insurance to cover the defendants’ costs in the event that the claim is unsuccessful. For additional information or to register interest please visit the collective action website: www.UKFXcartelclaim.com About Scott+Scott Attorneys at Law LLP Scott+Scott has significant experience prosecuting antitrust, arbitration and securities cases throughout the United States and Europe.  The firm represents corporations, pension funds, foundations, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.  For more information, visit www.scott-scott.com or call +1.800.404.7770 1)         Michael O’Higgins is the current Chairman of the Local Pensions Partnership, of the Channel Islands Competition and Regulatory Authorities.  He has previously been Chairman of the Pensions Regulator, Chairman of the NHS Confederation, Chairman of the Audit Commission, Non-Executive Director and Chair of the Audit Committee for Her Majesty’s Treasury, Chairman of Centrepoint, Managing Partner of PA Consulting, a partner at Price Waterhouse (now PwC) and an academic at various universities including the University of Bath, the London School of Economics, the Australian National University, and Harvard University. 2)         Michael O’Higgins FX Class Representative Limited is the legal entity that has filed a collective action with the UK Competition Appeal Tribunal (CAT) under the Consumer Rights Act 2015.  Michael O’Higgins is the sole director and sole member of the company which is incorporated in England & Wales. 3)         Scott+Scott Attorneys at Law LLP was lead counsel in the US class action first filed in 2013, relating to manipulation of the FX market. The firm secured a USD2.3bn settlement from 15 banks involved, which include HSBC, Barclays, RBS, UBS, BNP Paribas and Deutsche Bank. The firm considered the UK case on an individual basis but counseled its clients to go with a collective action as there will be no fees taken from their potential recovery. 4)         The UK Consumer Rights Act was passed in March 2015 and introduced the possibility of mounting ‘opt-out’ collective actions in breaches of competition law. The Act enables groups that have been wronged in a similar way to recover losses without any risk or expense. All affected UK entities are included in the claim under the ‘opt-out’ system and are therefore able to claim from the aggregate pool of damages. 5)         Therium Capital Management is a leading global provider of litigation, arbitration and specialty legal finance active in England and Wales and internationally since 2009.  Over that period, Therium has funded claims with a total value exceeding $36 billion, including many of the largest and most high-profile funded cases in the UK.  The firm has investment teams in the UK, USA, Australia, Spain, Germany and Oslo, supplementing its resources in its corporate headquarters in Jersey, Channel Islands.  Therium is a founder member of the Association of Litigation Funders of England and Wales.  www.therium.com
Read More

Proskauer Director Joins Augusta as Chief Operating Officer

Augusta, the UK’s largest litigation and dispute funding institution by case volume - with a team of 70 in London - today announces the appointment of Polly Bahl as Chief Operating Officer, based in London. Polly joins from US law firm Proskauer Rose where, as London Director of Professional and Administrative Resources, she coordinated a range of operational functions. A solicitor by training, Polly qualified with SJ Berwin (now King & Wood Mallesons) where she became a partner specialising in private investment funds, a role which latterly incorporated various operational responsibilities.

Polly’s hiring is the latest addition to Augusta’s senior team following the recent arrivals of Gowling WLG Partner James Foster as Head of International Arbitration and FTI Consulting Managing Director Leor Franks as Chief Marketing Officer. These additions reflect Augusta’s ongoing growth and increasing client demand for dispute and litigation funding. Commenting on the appointment, Louis Young, Managing Director at Augusta, said: “We’re delighted to welcome Polly to Augusta. We’ve been looking to fill this role for some time, and with her wide experience of corporate functions including Risk, IT, HR and Finance and her legal background, Polly will play a key role in this important phase of our growth”. Polly Bahl commented: “I’m really pleased to be part of the continued expansion of Augusta’s operations given the exciting opportunities for further development in the UK and internationally. I’m very much looking forward to working with Augusta's capable team and to help further develop a leading player in litigation and dispute funding”.

About Augusta Ventures:

- Established in 2013, Augusta is the largest litigation and dispute funding institution in the UK by # cases with a team of 70 in London and 85 worldwide. Augusta’s scale enables us to make decisions in market-leading timeframes and fund cases of any size. - Augusta is organised into a series of specialist practice groups: Arbitration, Class Action, Competition, Consumer, Intellectual Property and Litigation, and sectors including Financial Services and Construction & Energy. - By the end of H12019, Augusta had funded 213 claims with a market-leading win ratio of over 80%. - Augusta recently announced £25m funding deals with international law firm Pinsent Masons and leading litigation law firm HFW.

Read More

MENA’s Pre-Eminent Financial Restructuring Summit Returns to Dubai This September

Dubai: Middle East Global Advisors, a leading financial intelligence platform spearheading the development of knowledge-based economies in the MENASEA markets, will convene The 2nd Annual Corporate Restructuring Summit (CRS 2019) - the MENA region’s pre-eminent Debt Restructuring and NPL-focused Summit, in strategic partnership with Abu Dhabi Global Market (ADGM) on September 11-12 at the Address Dubai Mall in Dubai, UAE. Addressing the theme of “Emergence of New Alliances: Managing Debt & Non-Performing Loans”, the summit’s vision is to facilitate an enabling environment to address the key challenges associated with financial restructuring of corporate debts, effective management of non-performing assets and enabling capital adequacy and profitability through exploring mergers & acquisitions. As a strategic partner of the Summit, Steve Barnett, Executive Director, Business Development, Abu Dhabi Global Market said, “In today’s complex and increasingly volatile marketplace, companies need a stable and conducive environment to grow their businesses. As an innovative and progressive International Financial Centre, ADGM provides a holistic suite of business and licensing solutions, a robust regulatory platform and world-class legislation for entities and corporates to operate efficiently, restructure their business effectively and achieve their ambition in Abu Dhabi, the Middle East and beyond. We look forward to meeting the banks, corporates, funds and restructuring specialists to discuss and exchange insights of current challenges of restructuring and strategic reorganisation of finance and debt-related matters." Following the oil price slump in 2014, numerous industry sectors – predominantly oil & gas, real estate and construction experienced substantial liquidity shortage, leaving corporates heavily invested in these sectors and reliant on Government spending with diminishing profits and an inability to service existing debt exposures and project finances, spiking up the region’s NPL portfolios. In consequence, corporate workouts and financial restructuring have become the norm to aid organizations with troubled balance sheets to combat debt delinquencies and defaults. The recent wave of restructuring reforms in the GCC with UAE issuing the Bankruptcy Law in 2016 - the first of its kind in the region and one at par with international insolvency standards - aims at modernising the existing regime to offer debtors greater opportunities for reorganisation, provide simplified liquidation process, ensure fair treatment of creditors, all of which will boost investor confidence enabling FDIs into the region. Economic stability continues to be a high-priority for the UAE with His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minster of the UAE and Ruler of Dubai, enacting a new DIFC Insolvency Law that will come into effect in August 2019 as it aims at balancing the needs of all stakeholders in the context of distressed and bankruptcy related situations in DIFC. Adding to the ongoing wave of regulatory reforms in GCC’s financial sector, Saudi Arabia and Bahrain introduced their respective bankruptcy laws in 2018, encouraging corporate reorganisation over liquidation. In Saudi Arabia, with the National Transformation Programme 2020 and Vision 2030 setting the stage for major transformation with the aim of optimizing the Kingdom’s business & investment climate, the Bankruptcy Law was introduced as part of Saudi Arabia’s regulatory reforms with the aim of further strengthening the Kingdom’s business environment. To broaden the perspective on Saudi Arabia’s transformation drive, the summit will see an Opening Keynote address by Dr. Fahad Alshathri, Deputy Governor – Supervision, Saudi Arabian Monetary Authority (SAMA) assessing the state of the credit market and measuring the impact of corporate debt on the global and regional economy. The summit will also play host to Mr. Majed Al-Rasheed, Secretary General, Bankruptcy Commission as he shares insights in the Regulators’ Panel focusing on Driving economic growth via FDIs, M&As and minimizing bad debt portfolios. Among the first organizations to avail and benefit from the Saudi Bankruptcy Law, was Ahmad Hamad Algosaibi & Brothers (AHAB), in their bid to achieve successful financial restructuring involving 100+ creditors, following a 10-year long settlement process. Speaking ahead of the Exclusive CEO’s panel, Simon Charlton, Chief Restructuring Officer & Acting Chief Executive Officer, Ahmad Hamad Algosaibi & Brothers said, “The process of social and economic reform in Saudi Arabia under the guidance of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz continues with pace. One of the more significant economic/business developments in the past twelve months has been the enactment of the new Bankruptcy law. Since the beginning of 2019 we have seen the first uses of the New Saudi Arabian Bankruptcy Law; debtors and creditors are availing themselves of the tools and protections of this new law. There are a number of very high profile cases currently before the courts and this is a serious and robust test of this new law and there is significant interest in Saudi Arabia and internationally as to how effective the new procedures for protective settlement, financial restructuring and liquidation will be and how the courts and the various professionals involved particularly Bankruptcy trustees will perform.” Speaking ahead of the regulators panel, Adnan Ahmed Yousif, Chairman, Bahrain Association & Banks and President & Chief Executive, Al Baraka Banking Group expressed, “In the wake of several countries that have had the misfortune of succumbing to the aftermath of a financial crisis, difficulties faced by financial institutions and corporates, and resulted accumulation of NPLs, the 2nd Annual Corporate Restructuring Summit gains substantial importance for both financial institutions and regulators and other governmental bodies. I am honored to be part of an esteemed panel and look forward to discuss Bahrain’s efforts in fostering a supportive environment for businesses in varying stages of its lifecycle, a strong factor that will attract FDIs into the region. In addition, I would like to discuss the different strategies adopted by Bahraini Banks to combat the challenge of NPLs, asset quality and capital adequacy.” If the challenge of rising non-performing assets is not addressed, it can cripple banks’ cash flows and lending abilities, with serious negative consequences reflected throughout the economy. As banks look for ways to clean their balance sheet and dispose non-core assets, they drive opportunities for mergers and acquisitions (M&As) and establishment of distressed loan sale market for potential buyers and sellers. Speaking ahead of the panel on Managing NPL portfolios & driving down regional average, Manoj Chawla, Group Chief Risk Officer, Emirates NBD said, “As the MENA market becomes more sophisticated with respect to debt restructurings there are new and innovative solutions to address the NPL portfolio of local lenders. We are increasingly seeing local lenders explore portfolio-based solutions, debt for equity swaps, secondary market sales and litigation financing as means to address their ever growing NPL books. The local banks are now also better equipped than earlier to deal with distressed situations with experienced work out teams and more advanced risk management procedures. Lenders are also identifying issues early and seeking to work with their customers to address problems in an objective manner.” Key Industry Veterans from leading banks and corporates will headline The Corporate Restructuring Summit 2019 as it aims to spearhead discussions gravitating around the three high-stake areas of effective NPL management, debt restructuring and Mergers & Acquisitions.The confirmed industry leaders at the summit include: Dr. Fahad Alshathri, Deputy Governor - Supervision, Saudi Arabian Monetary Authority (SAMA); Tareq A. Al-Sadhan, Chief Executive Officer, Riyad Bank; Richard Hinchley, Chief Risk Officer, The Saudi British Bank (SABB); Mike Grant, Chief Restructuring Officer, Drake & Scull; David McDiarmid, Partner, Resolute Asset Management; Bruno Navarro, Senior Adviser, Rothschild, Managing Director, IPSO FACTO; Richard Clarke, Senior Vice President – Business Development and Mergers & Acquisitions, GEMS Education; Mohammed Riaz, Head of Financial Restructuring Department, Kuwait Finance House Bahrain; Esteban Buljevich, Head of Special Assets & Restructuring Department, Abu Dhabi Commercial Bank; Naveed Kamal, Corporate Bank Head Middle East & North Africa (MENA), Citi; Amine Antari, Managing Director, Kroll & Sassan Hatam, Partner, Roland Berger, among others. Key Features at CRS 2019 include: Keynote Addresses on bolstering economic growth in the MENA by fostering a conducive environment for doing business & transaction forecasts for MENA 2021; Exclusive CEO’s Panel analyzing some of MENA’s biggest workouts; Regulators Panel on driving economic growth via FDIs, M&As and minimizing bad debt portfoliosKey Panels focused on mergers, acquisitions and divestiture, distressed investing and NPL servicing platforms, managing NPL portfolios and driving down regional average & more. Partners at CRS 2019 include Resolute Asset Management, Eyad Reda Law Firm, Roland Berger, Kroll & Omni Bridgeway. The summit’s Bankruptcy Regulatory Partner is Bankruptcy Commission, Association Partner is Saudi Banks while CNBC Arabia is the Official Broadcast Partner. The summit is expected to draw participation from over 300 prominent banks, corporates, legal-advisory firms, hedge funds, investment banks and debt restructuring specialists from across the MENA onto one platform by spearheading actionable debate, impactful change and high-level outcomes. To find out more about CRS 2019, please visit: www.crs19.com Join the global conversation on Twitter at: @CorpRS #CorpRestructure19 ABOUT THE CORPORATE RESTRUCTURING SUMMIT (CRS) The Corporate Restructuring Summit is an initiative of Middle East Global Advisors, the first of its kind that aims to explore innovative approaches to corporate debt restructuring and NPL management in context of the complex market dynamics in the Middle East North Africa (MENA) region. The summit will gather banks, corporates, legal-advisory firms and debt restructuring specialists from across the MENA onto one platform by spearheading actionable debate, impactful change and high-level outcomes. To find out more, visit www.crs19.com  or follow us on Twitter @CorpRS ABOUT MIDDLE EAST GLOBAL ADVISORS (MEGA) Connecting markets with intelligent insights & strategic execution since 1993 Middle East Global Advisors (MEGA) is the leading gateway connectivity and intelligence platform to Islamic finance opportunities in the rapidly developing economic region that stretches all the way from Morocco in the West to Indonesia in the East- The Middle East North Africa Southeast Asia (MENASEA) connection. For 26 years, our exclusive focus on achieving business results for the Islamic finance industry has enabled us to create significant value for the leading players in the Islamic banking, finance and investment markets. Visit us at www.meglobaladvisors.com  or follow us on Twitter @meglobaladvisor Aanchal Dhawan Marketing Manager Middle East Global Advisors Tel: +971 4 441 4946 Email: aanchal@meglobaladvisors.com
Read More

Law Firm Financing in the Wake of the NYC Bar Opinion

Last year, the New York City Bar Association issued an advisory opinion suggesting that funding agreements between lawyers and third party funders violates ABA Model Rule 5.4(a), which prohibits fee sharing with non-lawyers. The opinion has sparked furious debate (and much consternation) in the litigation funding community ever since. But practically speaking, how has the NYC Bar's opinion impacted law firm funding? As reported in Above the Law, the Bar's opinion - although strictly advisory in nature - has the potential to sway law firms on the issue of whether or not to seek funding, given such a strict interpretation of Rule 5.4(a). The key issue at the heart of Rule 5.4(a) is the independence of the lawyer when accepting outside funding. To that end, recourse funding has never been prohibited, given that it is widely understood most businesses need recourse funding (loans) in order to expand. Yet it can be argued that non-recourse funding (i.e. third party funding) may restrict a lawyer's independence, given that repayment is contingent on the outcome of the case, which incentivizes the funder to intervene in case strategy. Of course, the funding community counters that its funding agreements render them passive investors, and that the terms therein stipulate that they will not exert control over case strategy. Yet suspicions to the contrary persist. And clearly the NYC Bar wanted to make a statement that in terms of ethical concerns, non-recourse funding is to be treated differently from recourse funding. Although many in the funding community are crying foul over that logic. Although the NYC Bar has no intention of revisiting its opinion, it has established a Litigation Funding Working Group to examine an ethical framework for third party funding. The Working Group's findings are due to be released later this year.

Should Litigation Funders Worry About Kirkland’s Push into Contingency-Fee Litigation?

Recently, law firm Kirkland & Ellis announced a ten-fold increase in investment dollars towards contingency-fee plaintiff-side claims. Alternative fee arrangements have been the most profitable component of the law firm thus far, so management figures 'why not roll the dice' on what's already been working? The question now is: is Kirkland's approach a harbinger of things to come? And if so, how will this impact litigation funders down the road? As reported in Big Law Business, litigation funders have long provided a platform for traditionally risk averse law firms to expose themselves to more risk. While this has turned funding into an extremely profitable industry, it has also created a bit of a double-edged sword. After all, if big law firms like Kirkland start taking on more risk, what do they need litigation funders for? Longford Capital co-founder Michael Nicolas notes this concern, but insists we're not anywhere near a tipping point at the moment. He points out that Kirkland made headlines with its announcement precisely because its decision is so unique. If other big law firms were doing what Kirkland is doing, no one would have batted an eye. The argument essentially is that Big Law is slow to change, and there are still major gaps in the market; namely, the skyrocketing cost of lawsuits which restricts access to justice. As long as those gaps exist, funders have a place at the table. Of course, as Nicolas further notes, in a fully-efficient market, Big Law would actually be competing with litigation funders. They have the money and manpower to adopt the added risk of contingency-fee claims, as Kirkland is now doing. Which means that by exposing Big Law to outsized risk (and the outsized returns that come with it), litigation funders may in fact be breeding their eventual competitors.