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Announcements Consumer

Legal-Bay Pre Settlement Funding Preparing For Numerous Bayer Lawsuit

JERSEY CITY, N.J., Nov. 9, 2019 /PRNewswire/ -- Legal-Bay LLC, The Pre Settlement Funding Company, announced today that they have recently seen an increase in Essure birth control lawsuits, and are preparing for numerous presettlement payouts in the coming months. The Essure brand birth control device is put out by Bayer, who is accused of knowingly distributing a faulty product. More than 17,000 plaintiffs have claimed serious pain and suffering from broken devices including device migration and perforated organs. Bayer continues to deny any wrongdoing and stands by the safety of its product, with all intentions of defending itself against the many lawsuits already filed, and the many more sure to come. In spite of past dismissals, California, Illinois, and Pennsylvania courts are currently selecting bellwether trial cases and setting court dates. The largest number of pending cases is in California, and their courts have compiled the largest collection of documents and information regarding the Essure devices. California and Pennsylvania are looking to try their cases sometime in 2019, while Illinois courts have already set a trial date, albeit not until 2020. Chris Janish, CEO of Legal-Bay commented, "Legal-Bay has seen an increase in the filings for Bayer's Essure device. While there are no settlements or jury verdicts in these lawsuits, we nevertheless remain committed to assisting plaintiffs with their presettlement cash advance needs." If you are involved in an Essure birth control lawsuit and are looking for presettlement cash now, you can fill out an application at: http://lawsuitssettlementfunding.com Legal-Bay is a leading personal injury pre-settlement advocate, and works directly with many of the top mass tort law firms to provide the best pre-settlement cash advance rates in the industry in as little as 24 – 48 hours. If you do not have an attorney, Legal-Bay can assist you with retaining a top lawyer or law firm that specializes in Essure cases. All of Legal-Bay funding programs are risk-free as you only repay the advance if your case is successful. The non-recourse advance is not a lawsuit loan, lawsuit loans, pre settlement loan, or pre-settlement loans. Please apply online at:  http://lawsuitssettlementfunding.com or call the company's toll free hotline at: 877.571.0405 where agents are standing by.
Announcements Commercial

Leading dispute financiers IMF Bentham and Omni Bridgeway complete merger transaction

SYDNEY (November 11, 2019) Leading dispute resolution financier IMF Bentham Limited (IMF Bentham) (ASX:IMF) announces that it has completed the merger with Omni Bridgeway Holdings BV (Omni Bridgeway) previously announced on October 15, 2019.
The combined IMF Bentham and Omni Bridgeway business accelerates IMF’s growth and creates a major diversified global litigation funding platform across common law and civil law jurisdictions in developed and emerging markets. The largest funding team in the world now offers end-to-end solutions for clients from pre-judgment merits funding to post-judgment enforcement and recovery. Having previously described the acquisition as a “merger of equals,” Andrew Saker, Managing Director and Chief Executive Officer of IMF Bentham, describes the combined resources as considerable. “We have over A$2.2 billion in capital to finance disputes and enforcement proceedings of significant size and complexity throughout the world. Our combined company has 18 offices in 10 countries across Asia, Australia, Canada, Europe, Middle East, UK, and the US and 145 professionals experienced in legal and recovery systems worldwide, fluent in more than 20 languages.” IMF Bentham will continue to be listed on the Australian Securities Exchange and the combined group will use the first-class business operations, reporting and accounting practices that have shaped IMF Bentham’s reputation as a trustworthy and reliable disputes financier. The combined group will assume one global name pending a rebrand projected for completion by 30 June 2020. About IMF Bentham IMF Bentham is a leading global litigation and dispute financier, headquartered in Australia and with offices in the US, Canada, Singapore, Hong Kong, and London. The company began funding disputes in Australia in the 1990s and has built its reputation as a trusted provider of innovative litigation financing solutions. It has established an increasingly diverse portfolio of litigation and dispute financing assets. IMF Bentham has a highly experienced litigation financing team overseeing its investments, delivering, as at 30 June 2019, an 89% success rate across 192 completed cases (excluding withdrawals). Visit imf.com.au to learn more. About Omni Bridgeway Omni Bridgeway was founded in the Netherlands in 1986 and is known as a leading financier of high-value claims and a global specialist in cross-border (sovereign) enforcement disputes. The Omni Bridgeway group includes ROLAND ProzessFinanz, a leading German litigation funder which became part of Omni Bridgeway in 2017, and a joint venture with IFC (part of the World Bank Group). The joint venture is aimed at assisting banks with the funding and managing the enforcement of non-performing loans and related disputes in the Middle East and Africa. Visit omnibridgeway.com to learn more. About ROLAND ProzessFinanz ROLAND ProzessFinanz AG has been providing commercial litigation funding solutions since 2001. The company became part of Omni Bridgeway in mid-2017, creating one of Continental Europe’s leading litigation funders. ROLAND funds medium-sized merits and group claims in the German-speaking jurisdictions of Europe.  Visit roland-prozessfinanz.de/en/ to learn more.
Announcements Consumer

Legal-Bay Lawsuit Funding Focusing On Wrongful Termination Cases

NEW YORK, Nov. 7, 2019 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, reports today that they are focusing a large portion of their pre-settlement cash advance funding capital toward victims of wrongful termination due to racial, gender, or age-related discrimination. With the many payouts plaintiffs have received from the most recent court cases, Legal-Bay anticipates even more wrongful termination lawsuit filings to come.

Legal-Bay provides financial assistance to people who have recently found themselves unemployed, and can provide cash advances to plaintiffs while their cases are tied up in litigation. These pre settlement funds can assist people dealing with lost pay, lost benefits, emotional stress, punitive damages, and legal fees.

Chris Janish, CEO, commented on the company's focus of assisting plaintiffs in similar situations, "If the recent increase in applications is to be used as an indication, we can safely surmise that the number of wrongful termination lawsuits is on the rise. While the situation is frustrating and stressful for those who may have found themselves unjustly dismissed from their jobs, Legal-Bay is committed to helping these out-of-work individuals as they fight their cases."

If you are actively engaged in a lawsuit as a result of wrongful termination, please visit the company's website at http://lawsuitssettlementfunding.com for more information on how Legal-Bay can help you during this difficult time. Legal-Bay also helps victims involved in commercial litigation and verdict or judgment on appeal cases, as well as cases that result in personal injury.

Legal-Bay's programs are non-recourse lawsuit cash advances, also known as case funding, which means you only repay the settlement advance if you win your case. None of the programs should be considered to be a lawsuit loan, lawsuit loans, settlement loans, settlement loan, pre settlement loans, pre-settlement loans, pre settlement loan or a pre-settlement loan.

If you require an immediate cash advance or need help with finding a lawyer or law firm that specializes in wrongful termination cases, please go to the company's website: http://lawsuitssettlementfunding.com to fill out a preliminary application, or feel free to call Legal-Bay on its toll-free hotline at: 877.571.0405, where live agents are available to answer your questions.

Announcements Commercial

Ruth Stackpool-Moore joins IMF Bentham and Omni Bridgeway Asia team

SINGAPORE (11 NOVEMBER 2019) IMF Bentham Limited (ASX:IMF) is delighted to announce that on Monday, 4 November 2019, Ms Ruth Stackpool-Moore joined our expanding global team as Investment Manager, based in our Singapore office. Ruth’s appointment follows the news of IMF Bentham and Omni Bridgeway’s plans to merge, creating a leading global dispute financier and the largest on-the-ground team in the Asian region. Ruth will be responsible for sourcing, assessing and managing funded cases throughout Asia, including arbitration, litigation and insolvency claims. She will be working closely with Mr Tom Glasgow, Chief Investment Officer - Asia (based in Singapore) in a fast-growing dispute investment practice which spans Asia, including mainland China, Hong Kong, India, Indonesia, Japan, Korea, Philippines and Singapore. In June 2019, IMF Bentham was recognised as the only ‘Band 1' funder in the Asia-Pacific by the legal industry’s leading global directory, Chambers and Partners. Ruth said: “Having been at the forefront of the growing third party funding industry in Asia, it is an exciting progression for me to join Tom and the IMF team in Singapore, and to continue to offer sophisticated funding solutions to Asian corporates from within the market-leading platform IMF has built in Asia, and globally.” Before joining IMF Bentham in November 2019, Ruth was Managing Director for an exclusive broker to a global litigation funder in the Asia-Pacific region. One of the first to set up and manage local operations for a global funder in Asia, Ruth has been commercially assessing dispute prospects and funding cases in civil and common law jurisdictions in Asia, and globally, since 2015. During that time, she has also worked to develop regional political and legislative frameworks to allow third party funding in key Asian jurisdictions. Ruth joined the funding market from the Hong Kong International Arbitration Centre where, as Managing Counsel, she led the arbitration team and, in 2014, managed the Centre as Acting Secretary-General. Ruth is a qualified lawyer in Australia and the UK, with particular expertise in international arbitration, having begun her career in private practice with specialist firms Debevoise & Plimpton in London, Orrick Herrington & Sutcliffe in Paris and Coudert Brothers in Paris and Sydney. Tom Glasgow, IMF Bentham’s Chief Investment Officer - Asia, said: “We are thrilled to welcome Ruth to our team. As one of the pioneers of the funding industry in Asia, Ruth brings with her a wealth of experience and a deep professional network. She also joins us at an exciting time of growth, alongside the merger with Omni Bridgeway, allowing us to provide a truly unparalleled depth of service and expertise to our Asian client-base.” ABOUT IMF BENTHAM IMF Bentham is a leading global litigation and dispute financier, headquartered in Australia and with offices in the US, Canada, Singapore, Hong Kong and London.  The company has built its reputation as a trusted provider of innovative litigation financing solutions and has established an increasingly diverse portfolio of litigation and dispute financing assets.  IMF Bentham has a highly experienced litigation financing team overseeing its investments, delivering, as at 30 June 2019, an 89% success rate across 192 completed cases (excluding withdrawals).  Visit imf.sg or imf.com.au to learn more. ABOUT OMNI BRIDGEWAY Omni Bridgeway was founded in the Netherlands in 1986 and is known as a leading financier of high-value claims and a global specialist in cross-border (sovereign) enforcement disputes. The Omni Bridgeway group includes ROLAND ProzessFinanz, a leading German litigation funder which became part of Omni Bridgeway in 2017, and a joint venture with IFC (part of the World Bank Group). The joint venture is aimed at assisting banks with the funding and managing the enforcement of non-performing loans and related disputes in the Middle East and Africa. Visit omnibridgeway.com to learn more.
Announcements Commercial

Parabellum Appoints Jiamie Chen as Director of Investment Initiatives

Parabellum Capital LLC (“Parabellum”), a leader in commercial litigation finance, today announced the appointment of Jiamie Chen as Director of Investment Initiatives, a newly created position that strengthens the firm’s origination and underwriting of new investment relationships in strategically significant sectors. She will be based in San Francisco. “Jiamie has an incredibly impressive background and entrepreneurial character. With experience as a plaintiffs’ and defense-side antitrust attorney and as a federal prosecutor, she is ideally positioned to target and develop strategic initiatives,” said Aaron Katz, Parabellum’s Chief Investment Officer. “I’m honored to join a team that continues to lead the commercial litigation finance field through a focus on true alignment,” said Ms. Chen. “It’s an exciting time to join this fast-growing industry. Litigation finance today is brimming with opportunities to leverage my affirmative litigation experience to develop new strategies that innovate the business of law.” Ms. Chen joins from the Joseph Saveri Law Firm, where she specialized in complex litigation. Her experience there included work on the EpiPen antitrust and RICO multidistrict litigation (MDL), the Capacitors price-fixing antitrust litigation, and the UFC monopoly and monopsony litigation. She previously served as an Assistant United States Attorney and as the designated Department of Justice Financial Crimes Task Force prosecutor for the District of Nevada, focusing in high-dollar financial crimes. Ms. Chen also previously served as judicial law clerk for Chief Judge Lawrence J. O’Neill of the United States District Court for the Eastern District of California. She began her legal career in the antitrust and white-collar defense practices at White & Case LLP. Ms. Chen is an active member of various professional associations. In addition to serving on the California Lawyers Association Antitrust, UCL & Privacy Section’s Executive Committee, Ms. Chen is the Co-Chair of the Women’s Committee and a member of the Mentorship Program for the Asian American Bar Association of the Greater Bay Area; the Regional Director for the Dartmouth Asian Pacific American Alumni Association; a Board Member of the Dartmouth Club of Greater San Francisco; and a member of the American Bar Association Antitrust Section and the Bar Association of San Francisco. She is also a Barrister member of the Edward J. McFetridge American Inn of Court in San Francisco. Ms. Chen received her J.D. from the University of Pennsylvania Law School, where she served as Symposium Editor of the University of Pennsylvania Journal of International Law, and her B.A. in Government from Dartmouth College. She has published several expert commentaries on litigation matters and is a lead chapter author of an upcoming ABA Antitrust Section treatise on expert witnesses and Daubert practice. About Parabellum Capital Parabellum Capital is a leading financier of commercial and intellectual property litigation. Its principals pioneered the commercial litigation funding market in the United States and remain on the forefront of shaping the asset class as the industry evolves. Parabellum is a trusted financial partner to claimholders and law firms for a wide array of litigation matters in the US, other common law jurisdictions, and international arbitration forums. Founded in 2012, Parabellum’s team includes legal and financial professionals with backgrounds at major law firms, investment banks, accounting firms, and the federal government. Parabellum principals previously founded the Legal Risk Strategies and Finance group at the global investment bank Credit Suisse. Parabellum manages both separate accounts and pooled private equity vehicles for institutional and high net worth investors globally. Based in New York, Parabellum’s team has invested hundreds of millions of dollars in the commercial litigation arena. Areas of focus include commercial disputes, antitrust, intellectual property infringement, trade secret misappropriation, bankruptcy and special situations. For more information, visit www.parabellumcap.com.
Announcements Consumer

Legal-Bay Settlement Funding Announces Extended Filing Deadline For Victims Of Sexual Abuse

JERSEY CITY, N.J., Nov. 6, 2019 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Pre Settlement Funding Company, reports a win for the victims of child sexual abuse at the hands of clergy members. After years of fighting, Governor Phil Murphy signed a law that offers victims of abuse the ability to sue their abusers up until they turn 55, or within seven years of their realization that the abuse caused them harm. Additionally, victims formerly excluded by the previous statute of limitations now have two years to file lawsuits seeking damages from the churches and dioceses that covered up the abuse. The bill will go into effect on December 1, 2019. If you or a loved one require an immediate cash advance from your clergy or Catholic church sexual abuse case, please visit the company's website:  http://lawsuitssettlementfunding.com or call: 877.571.0405 Chris Janish, CEO, commented on the company's focus of assisting plaintiffs in similar situations, "While these cases are appalling and heartbreaking, it's important for our company to inform the public of their options. Nothing can compensate for the lifetime trauma of childhood abuse, but with the new extended deadlines, adult victims will now be able to receive monetary reparations for their pain and suffering." Legal-Bay is an advocate for victims of sexual abuse across the country, and is well-versed in clergy abuse litigation, especially in situations where Catholic churches have filed for bankruptcy to limit their payouts. Even in those cases, the pre settlement cash company was able to provide a lawsuit cash advance to victims across the country, including NY and NJ. If you have already filed a clergy or Catholic Church sexual abuse lawsuit, you can apply for presettlement funding at:  http://lawsuitssettlementfunding.com or call: 877.571.0405 Legal-Bay's programs are non-recourse lawsuit cash advances, also known as case funding, which means you only repay the settlement advance if you win your case. None of the programs should be considered to be a lawsuit loan, lawsuit loans, settlement loans, settlement loan, pre-settlement loans, or a pre-settlement loan. SOURCE Legal-Bay LLC
Consumer

West Virginia Basically Outlaws Consumer Legal Funding

After the state of West Virginia amended article 6N of its Consumer Credit and Protection Act this past summer, the litigation funding industry has essentially been prevented from operating in the state. And that's exactly what industry opponents were hoping for. According to JD Supra, West Virginia's amendment only applies to funding towards individuals, not to commercial entities (that's in contrast to some other states' funding regulations, such as Wisconsin's, which appear to apply more broadly). The amended article now regulates both the funders themselves and their funding contracts. Key provisions include: the requirement for funders to register in the state and remain 'in good standing,' a prohibition on paying the consumer's attorney any fee or commission, a prohibition on assigning funding contracts (with some exceptions), a mandate that funding contracts be completely filled in when presented to the consumer and contain certain disclosure language, a prohibition against mandatory arbitration, and perhaps most importantly - a rate cap of 18% with no more than semi-annual compounded fees. That last provision is what essentially prevents the industry from operating in the state, since roughly 10% of all funding investments are lost due to the case being dismissed or lost at trial (funding is non-recourse, so if the consumer doesn't win a payout or settle, the funding company gets nothing). Plus, the penalties for violation are harsh. Any violation renders the funding agreement null and void, and should the funder litigate the enforcement of a contract in court and lose, they may be on the hook for the counterparty's attorney fees. All of this is a clear signal to the industry by the state of West Virginia: Go away. And as the Alliance for Responsible Consumer Legal Funding points out, that is exactly what has happened.
Announcements Consumer

U.S. Claims Makes Further Inroads into $250B Market

DELRAY BEACH, Fla., Nov. 5, 2019 /PRNewswire/ -- DRB Financial Solutions, LLC (DRBfinancial.com), and its wholly-owned subsidiary U.S. Claims (USClaims.com), America's premier pre-settlement funding company, today announced that U.S. Claims has closed on yet another private placement transaction.  This marks the company's second litigation advance backed transaction of the year and DRB Financial's fourth term securitization transaction involving this asset class overall.  It primes U.S. Claims to continue its run of impressive growth.

DRB Financial's Senior Vice President and Head of Capital Markets, Jason Sutherland, commented, "We are very pleased with the market's response to this new and rapidly growing asset class.  In each of our four-term transactions, we have achieved improved execution in terms of advance rate and credit spreads."  He continued, "We hope to issue 2-3 such term deals per year as we continue to expand the origination and servicing platform."

Donna Lee Jones, the President of U.S. Claims, added, "America's tort system presents us with a total addressable market of more than $250 billion per year, and we have barely scratched the surface of this opportunity.  We look forward to helping tort victims through the often arduous litigation process while offering attractively priced investment opportunities to the capital markets."

The pre-settlement funding company, established in 1996, has been consistently voted among the best in the nation.  In 2019 alone, U.S. Claims earned first place rankings by the audiences of national legal publications in several categories, including "Best Consumer Litigation Funding Provider," "Best Law Firm Funding Provider," and the coveted "Hall of Fame" award from The Legal Intelligencer.

About U.S. Claims: U.S. Claims (www.USClaims.com) provides litigation funding for plaintiffs, attorneys, and surgeries.  Its flagship offering is providing non-recourse financial support to personal injury victims, some of whom may have suffered catastrophic injuries from defective products, unsafe premises, motor vehicle accidents, and other types of accidents; this financial support provides the injured plaintiff the means to pay bills and endure the often long and arduous litigation process.

About DRB Financial Solutions, LLC, (DRB) provides liquidity solutions to individuals and small/medium-sized businesses holding high quality but illiquid assets. Having raised over $1 billion in capital and developed a robust origination platform, DRB is a market leader in four major lines of business:  U.S. Claims, CRG Financial, (CRGFinancial.com), DRB Capital (DRBCapital.com) and Producer Advance (ProducerAdvance.com).

Commercial

Bloomberg Surveys Challenges and Opportunities in Litigation Funding Market

As we turn the corner into 2020, Bloomberg Law analyzes the results of its own Litigation Finance Survey to account for the challenges and opportunities facing the industry at this pivotal moment. As reported in Bloomberg, litigation finance had a wild year in 2019, and there is a lot to digest going into 2020. Bloomberg recently conducted a litigation finance survey, where they found that disclosure is the top concern for attorneys who have obtained or are interested in obtaining funding. Their survey shows that over 50% of attorneys who have done so are uninformed as to how frequently disclosure has been ordered (and in what contexts). Another key concern is accounting methodology. This topic was brought to the forefront in the Burford Capital / Muddy Waters saga, and has since become a hot-button issue in the industry. Burford is one of only a handful of publicly-traded funders, and the largest funder in existence; so to have the company shed nearly 50% of its value in a single day is naturally off-putting for investors and would-be investors into the space. And that brings us to one of the key points of of Bloomberg's survey findings: there is room for industry growth. The survey found that interest in funding outpaces current funding levels. Bloomberg points to Legalist's and Validity's funding rounds as two of the top-10 funding rounds in Legal Tech for 3Q19.