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The Case for Customized Solutions: One Size Does Not Fit All

The following article was contributed by Michael Lohrer, Chief Technology Officer of Segue Cloud Services. When it comes to technology for the legal finance community, more often than not market solutions have been designed as pre-set software, produced to function in one particular fashion to address organizational processes or workflows. End-users are often encouraged to give feedback on desired changes and customization, but revisions to the finished product are difficult for developers to fulfill after-the-fact. A pre-determined GUI and set functionality doesn’t always accommodate the ongoing needs of the customer—particularly for those who hope to grow their practices. The marketplace has come to accept the “one-size-fits-all” culture when it comes to business software where scale hinders the economics of customization. This is especially true in sophisticated market niches such as pre-settlement funding, which involves a complicated roster of labor intensive tasks, from contract generation to automated notification of multiple parties, to long-term tracking of the status of each case. Variables in these disciplines are constantly in flux, and each case has its own distinct conditions. Customers, however, are beginning to recognize that the one-size-fits-all mentality is not aligned with their needs, and are interested in finding technology vendors that have the latitude to customize their existing solution so it can be applied to specific business environments or workflows. This approach gives the customer confidence they are choosing a solution that addresses existing business needs. And if these requirements ever change—as they often do—the customer will have an even greater comfort level that the developer can make whatever changes are necessary to keep the technology relevant. Business owners should speak candidly with their technology vendors to determine if their software is designed to accommodate feature and workflow changes. Recognize that business dynamics continuously shift, and there will always be nuances and variables to every case, every new client, and every new stage of your business model as it evolves. The software you employ to help manage your processes and execute your tasks should be able to accommodate those changes, even if they occur mid-stream. For example, if your company takes on a new funding source, or if circumstances arise requiring a change in notifications or workflows, the user should be able to adapt their tools to address these new requirements, and not be expected to change their business practices to serve the limitations of software. When contemplating what type of automation software to implement for your firm, keep in mind that not all solutions take the one-size-fits-all approach. Automation software has been introduced in the market which allows users to dictate everything from the look and feel of the interface, to the ability to modify and add fields or generate notifications as needed, according to user-based rules. Companies are short-changing themselves if they invest in a system that forces employees to bend to the confines of its design—whether that’s regarding look and feel, the protocols by which users access data, or the ability to arrange application fields as they see fit. Look at it this way: Microsoft Windows is the most ubiquitous operating system in the world, yet no two users have the same desktop configuration. Each user benefits from personalizing the interface to best fit his or her workstyle. This ties into the new market emphasis on “WX,” or the “worker experience,” in which the technology and applications in the workplace address the learning styles and preferences of the individual to promote increased productivity and better job performance. Technologies for legal financing companies should emphasize flexibility, not rigidity. Uniformity has held sway for far too long, giving companies limited choices in finding an adaptable solution—but that’s quickly changing. Rather than subjecting the user to restrictions, it’s time to opt for systems that cater instead to business requirements, empowering companies in the legal finance community to thrive and grow. About the Contributor Michael Lohrer is Chief Technology Officer at Segue Cloud Services, a developer of automation software for the legal funding industry. Segue provides cloud-based solutions that help legal financing companies automate and manage all pre-settlement functions, from intake to settlement.
Announcements Consumer

Oasis Financial and Key Health Team Up with Los Angeles Trial Lawyers Charities

Oasis Financial and Key Health Medical Solutions, sister companies focused on helping personal injury victims get pre-settlement funding and access to medical care, are proud to announce their support of the Los Angeles Trial Lawyers’ Charities (LATLC). The LATLC has served the greater Los Angeles community for 13 years, providing more than $4,400,000 in grants, gifts and goods to improve the quality of life in the community by supporting issues related to education, childhood hunger, survivors of abuse, persons with disabilities, and homelessness.

“As local attorneys, we’re in the trenches fighting for our communities every day. We see the need first hand, and we simply know we have to give back. It’s not about just writing checks – it’s about helping in person – at women’s shelters, at food pantries, and in schools,” said Gerald Marcus, president of the LATLC. “The generous contributions from Oasis Financial, Key Health, and our other partners are critical to helping our program succeed and ensuring services and assistance gets to those in need.”

“Supporting the LATLC was a natural fit for our company,” said Jeff Trigilio, President of Key Health. “Just like LATLC, we focus on helping people in unfortunate circumstances improve their lives. In our case, it’s partnering with attorneys and healthcare providers to help personal injury victims recover financially and physically from their accidents.”

Oasis Financial and Key Health sponsorship includes the support of one of the LATLC’s marque fundraising events, the 2019 Casino Night. On June 8th, more than 1,000 attorneys in California enjoy a little fun and comradery, while giving back to the communities they serve. “The evening is great fun – and it raises serious money for the charities served by the LATLC. Through the generous donations from our participants, we hope to raise more than $450,000 – in one night. Money that will be put to use right here in L.A., fighting poverty, improving education, and ensuring safe shelter for our most vulnerable,” said Gerald Marcus.

“We’re incredibly excited and proud to be a part of the LATLC. We work hand in hand with attorneys and providers in California day in and day out,” said Jeff Trigilio. “To be a part of this special event and incredible charity that reaches back out to help our communities is a distinct honor, and we invite all the attorneys we serve to join us in making a difference.”

------------------------------------- More About Oasis Financial & Key Health Oasis Financial was founded in 1996 by attorneys who saw a need among clients burdened with increasing medical bills and living expenses, but their cases weren’t settling fast enough to keep up with their bills. The attorneys launched Oasis to provide a way for plaintiffs to receive an advance on their settlement and make life livable until their case closed. Today, Oasis has helped over 250,000 consumers make ends meet while waiting for their case to settle. In 2017, Oasis merged with Key Health, the nation’s leader in medical lien funding. Key Health works with medical providers spanning the U.S. who offer services to injured victims on a lien or letter of protection basis as part of a personal injury claim. Together, Key Health and Oasis help personal injury victims recover both physically and financially from an accident. Working with more than 14,000 attorneys and maintaining relationships with more than 10,000 physicians, Key Health and Oasis help ensure consumers who are injured in an accident have access to great healthcare, as well as funds to cover life’s other expenses while waiting for a personal injury case to settle. http://www.oasisfinancial.com/about-oasis | http://www.keyhealth.net/Home/AboutUs 

More about LATLC  The Los Angeles Trial Lawyers' Charities (LATLC) was founded in 2006 by a small group of Los Angeles trial lawyers inspired to find new ways to serve the community beyond their roles as attorneys. LATLC’s primary purpose is to make a positive difference in the quality of life for people within the greater Los Angeles area. Today, LATLC has more than 3,000 supporters and donated more than $4,415,000 in grants, gifts and goods. LATLC has been honored by the California State Assembly and State Senate. http://www.latlc.org 

6th Annual LATLC Casino Night will be held June 8, 2019 at 6:00 pm, at the Intercontinental Hotel in Downtown Los Angeles. More information can be found at http://www.latlc.org/events

Announcements Commercial

Defrauded Investor Awaits Decision from Qatari Courts

DOHA, Qatar, April 25, 2019 /PRNewswire/ -- The Swifthold Foundation, which was defrauded by Sheikh Fahad Bin Ahmad bin Mohamed Bin Thani and his Qatari company, Fast Trading Group, awaits a crucial hearing on April 28 in the Qatari court, according to Delta Capital Partners, the American litigation finance and support firm that the foundation has retained. In 2011, the U.K. High Court ruled in Swifthold's favor against Sheikh Fahad Bin Ahmad bin Mohamed Bin Thani Al-Thani, a prominent member of the Qatari royal family, for an award that now tallies to nearly $6 billion. In January 2019, The Swifthold Foundation submitted a petition through its counsel, Sultan Mubarak Al-Abdulla, to the First Instance Court of Major Jurisdiction in Doha, Qatar, to enforce the award against the Sheikh. The Sheikh has failed to appear at three separate hearings, thereby prompting the Court on April 14 to set a hearing for default judgment on April 28. If the Sheikh does not make an appearance on April 28 or before, the Court is expected to issue a default judgment thereby recognizing the U.K. High Court judgment and allowing the foundation to enforce it against the Sheikh's assets in Qatar. However, the Sheikh could appear, which would allow him to mount a defense leading to additional hearings. A spokesperson for Delta stated, "Sheikh Fahad Bin Ahmad bin Mohamed Bin Thani has failed to attend three hearings to which he's been summoned to answer for the money he owes the foundation. It is heartening that the Qatari courts have recognized that this repeated failure to appear provides ample reason to rule in favor of the plaintiff and issue a judgment for nearly $6 billion. This saga has dragged on for many years through the United Kingdom Courts and the Sheikh has refused to participate in legal proceedings in both the U.K. and in his home country of Qatar, apparently believing he is above the rule of law. Soon we expect to see a step in the right direction, and we are eagerly awaiting the Qatari courts to follow through by issuing a default judgment, which will finally allow Swifthold to obtain the justice is so rightly deserves." A spokesperson for the Swifthold Foundation commented, "This is a very important hearing and we expect the Qatari courts to continue their tradition of upholding international principles of law by granting the default judgment. The fraud took place nearly a decade ago and the process of satisfying the judgment has been arduous. We are near a positive conclusion and the default judgment should be the next step towards a successful resolution."
Announcements Commercial

McDonald Hopkins’ new Litigation Finance Practice Group is one of the first of its kind and unique to the legal market

CLEVELAND, April 23, 2019 /PRNewswire/ -- McDonald Hopkins LLC has announced the creation of a practice group dedicated to the relatively new and exciting phenomenon of litigation finance. The firm's Litigation Finance Practice Group is one of the first of its kind and is unique in the legal market. Litigation finance enables plaintiffs and law firms to use the "value" of causes of action in affirmative litigation or arbitration proceedings to secure funding from third party "litigation funders" by monetizing potential recoveries from litigation. The litigation finance industry is relatively new to the United States, and it is growing rapidly. Litigation funders are expanding in size and growing in number. In the last several years, many of the industry's early entrants have expanded their footprint and attracted additional capital while new litigation funders have entered the U.S. market. At the same time, law firms and litigants are becoming more familiar with litigation finance and more comfortable using it. McDonald Hopkins' Litigation Finance Practice Group will be co-chaired by members Jim Giszczak and Marc Carmel. Giszczak is chair of the firm's Litigation Department and serves on McDonald Hopkins' board of directors and executive committee. Carmel works in the Business Restructuring Services Department. Before joining McDonald Hopkins, he worked at one of the largest United States based litigation funders as director and leader of its involvement in the bankruptcy and restructuring sector. "We are excited to announce the creation of McDonald Hopkins' Litigation Finance Group," said Giszczak. "The group capitalizes on the experience of McDonald Hopkins' lawyers in the litigation finance industry and in commercial litigation." "We see litigation finance as a natural fit for the firm for several reasons," said Carmel. "First, our attorneys are collaborative. This is particularly helpful with litigation finance because we bring together attorneys with several different proficiencies to help our clients. Second is the breadth of the firm's litigation experience. McDonald Hopkins'attorneys have extensive backgrounds in the areas of law in which litigation funders seek to invest. Third is the firm's entrepreneurial spirit. And maybe most importantly, the rare experience we have in how litigation finance works. We have attorneys who have represented clients who have sought out and secured litigation funding, and we have represented litigation funders in helping them perform due diligence." The Litigation Finance Practice Group includes members from the firm's Litigation Department, Intellectual Property Department, and Business Restructuring Services Department. McDonald Hopkins will represent plaintiffs who are seeking litigation funding for individual cases and portfolios of cases and law firms who are seeking litigation funding for portfolio cases. Plaintiffs can be businesses of all sizes, including small, middle market and Fortune 500 companies. The firm will also represent litigation funders who are seeking assistance with due diligence as they evaluate potential investments. About McDonald Hopkins Founded in 1930, McDonald Hopkins is a business advisory and advocacy law firm with locations in Chicago, Cleveland, Columbus, Detroit, Miami, and West Palm Beach. With more than 50 service and industry teams, the firm has the expertise and knowledge to meet the growing number of legal and business challenges our clients face. For more information about McDonald Hopkins, visit mcdonaldhopkins.com. CONTACT:  
David Carducci  
McDonald Hopkins LLC  
600 Superior Avenue, East, Suite 2100  
Cleveland, Ohio 44114  
Phone: 216.348.5814  
Email: dcarducci@mcdonaldhopkins.com
Announcements Commercial

Longford Capital Expands Geographic Presence to Dallas; Hires Top Local Talent

CHICAGO-- Longford Capital today announced the opening of its office in Dallas, Texas, and has recruited a senior litigator and trial lawyer to head the expansion.

John E. Garda has joined Longford Capital as Managing Director and Head of the Dallas Office. Immediately before joining Longford Capital, Mr. Garda was the Managing Partner of the Dallas office of K&L Gates, a Global 20 law firm, and served on the firm’s Advisory Council. Throughout his 25-year career practicing law, Mr. Garda focused his practice on representing companies involved in complex commercial litigation and disputes.

Mr. Garda represented clients in complex commercial litigation, securities litigation, insolvency litigation, and business disputes involving a variety of industries including health care, real estate, technology and outsourcing and consumer products. He has appeared before state and federal trial courts, state and federal appellate courts, arbitration associations, and administrative boards around the nation. Mr. Garda served as legal advisor to several corporate Board of Directors and Board Committees. Mr. Garda also represented clients in corporate governance matters, SEC investigations, and other internal investigations.

Mr. Garda earned a B.A from the University of Delaware and his law degree from the University of Notre Dame Law School where he distinguished himself as the Managing Editor of the Notre Dame Journal of Law, Ethics and Public Policy. Before attending law school, Mr. Garda practiced as a Certified Public Accountant with the public accounting firm now known as Ernst & Young in New York.

“For many years, Longford Capital has collaborated with leading law firms in Texas,” said William P. Farrell, Jr., co-founder and managing director of Longford Capital. “Some of our most successful investments have involved Texas companies. And, the legal market in Dallas has been thriving for several years. Many of our trusted law firm partners have expanded into Dallas. The launch of our Dallas office is a natural progression of the great relationships and success that we have enjoyed in Texas. It was critical, however, for us to recruit John Garda to join us.”

“John possesses the skill and experience that we value most at Longford Capital,” said Mr. Farrell. “He has run the Dallas office for K&L Gates since 2015 and has been a part of firm-wide management of one of the largest law firms in the world. His contacts within the business community and legal community in Dallas and nationally are second to none. And, he knows our business, having served as an Independent Advisor to Longford Capital for almost five years. Longford Capital expects that the Texas legal and business communities will continue to be valued partners of Longford Capital.”

“K&L Gates has an outstanding globally integrated platform filled with tremendous lawyers that provide top-notch client service,” said Mr. Garda. “As part of my incredible experience at the firm, I have had the privilege to assist with its management and operations for the past several years; my partners and I have also had the privilege of representing Longford Capital in connection with the evaluation of several investment opportunities.”

“Through this process, my partners and I have been able to really get to know Longford Capital and its team of professionals,” said Mr. Garda. “Through our working experience, it became obvious to me that Longford Capital is the gold standard in the commercial litigation funding industry. I am honored to be joining Longford Capital and very excited to open the Dallas office for this industry-leading organization.”

About Longford Capital

Longford Capital is a leading private investment company that provides capital solutions to leading law firms, public and private companies, universities, government agencies, and other entities involved in large-scale, commercial legal disputes. Typically, Longford Capital funds attorneys' fees and other costs necessary to pursue meritorious legal claims in return for a share of a favorable settlement or award. The firm manages a diversified portfolio and considers investments in subject matter areas where it has developed considerable expertise, including, business-to-business contract claims, antitrust and trade regulation claims, intellectual property claims (including patent, trademark, copyright, and trade secret), fiduciary duty claims, fraud claims, claims in bankruptcy and liquidation, domestic and international arbitrations and a variety of others.

Commercial

Defense-Side Funding: Why Half the Market Remains Untapped

Litigation funding is now firmly entrenched in the Legal Services market - or more accurately, half the Legal Services market. While plaintiff-side funding is all the rage, defense-side funding is another matter entirely. Because there typically isn't a monetary reward at the end of a successful defense, funding such matters requires a creative workaround. As reported in The National Law Review, litigation funders and plaintiff-side claimants each benefit in a symbiotic relationship. One provides the asset, the other essentially underwrites it. In defense-side funding, however, there are no 'winnings.' A successful defense generally means 'not losing.' So how can such cases get funded? One way is for law firms or corporates to bundle their defense and plaintiff-side claims together. Funders would finance the entire portfolio, and take a higher return on the plaintiff-side claims than they otherwise would had they been funded individually. Another option is for a claimant to redefine success in a defense-side claim as a settlement or award that is below a certain threshold. Say a company is being sued for $100MM. The company might determine a successful defense is one where they are forced to pay $25MM or less. A funder could fund that defense-side claim, and take a multiple of their investment should the claim prove "successful."
Announcements Commercial

IMF Bentham teams with Boies Schiller Flexner to provide US$30M capital and legal representation to parties with Vietnamese cross-border disputes

16 APRIL 2019:  Leading international dispute financier, IMF Bentham Limited (ASX:IMF) and renowned global litigation and arbitration firm Boies Schiller Flexner LLP (BSF) announce a collaboration to provide up to US$30 million in funding capital for cross-border disputes with a Vietnamese connection. This world-first collaboration combines IMF Bentham’s financial support with BSF’s unmatched legal and Vietnam expertise to benefit foreign investors or Vietnamese businesses in Vietnam-related disputes, including international arbitration or US/UK litigation.
Why Vietnam? Vietnam is poised to become Asia’s next economic powerhouse. It has one of the fastest-growing economies in the world and a population approaching 100 million. It is also attracting record foreign investments in major infrastructure, manufacturing, real estate, and energy projects. Leading local businesses are also beginning to expand their operations abroad. When disputes arise, they typically involve multi-national parties and multi-jurisdictional proceedings. These disputes are complex and costly, and they require legal representation with a mix of local, regional and international expertise. Very few international players offer such expertise or the flexible sources of dispute finance that litigation funding offers.  Until now. What does the IMF-BSF arrangement mean for clients? Together, IMF and BSF bring the capital and know-how required to pursue complex and high stakes Vietnam related claims. The arrangement brings clients:
  • fast and streamlined funding assessment (within 4 weeks)
  • legal representation by one of the world’s leading trial and arbitration law firms with unique Vietnam expertise
  • risk-free recoveries (neither BSF nor IMF Bentham recover any costs unless the claim is successful)
How will the arrangement work? IMF will fund preliminary investigations into potential claims and also subsidize BSF’s legal fees and external expenses (e.g., expert witnesses) for claims that proceed. Funding arrangements will be tailored for each specific case. IMF’s Chief Investment Officer (Asia), Tom Glasgow, said: “IMF and BSF have had a strong working relationship on funded matters, and our US division successfully funded a matter with Mr Tran that resolved in 2016. Our new arrangement with BSF responds to increasing demand for legal representation in cross-border disputes involving Vietnamese parties and assets. It also reflects the growing appetite for third-party finance as a tool for resolving disputes in Asia.” Luan Tran, Partner at BSF said: “I lead a unique practice which combines the Vietnamese perspective (jurisdictional know-how, local contacts and language) with BSF’s global disputes expertise.  I recently lived and worked in Vietnam and Asia and regularly travel for work there. I have an intimate knowledge of the market. This collaboration with IMF allows foreign investors doing business in Vietnam, as well as Vietnamese companies doing business internationally, to pursue cases prosecuted by a leading law firm that previously might have been beyond reach for cost reasons.”  Quyen Ta, Partner at BSF said: “I have represented the top companies based in Asia and the United States in their highest-stakes intellectual property, class action, and trade secrets disputes—whether in state or federal courts, or in international arbitrations.  Clients appreciate that they can come to BSF for their Southeast Asian disputes, be able to retain experienced trial lawyers like me and Luan who are culturally and linguistically competent, and have access to a reputable litigation funding source.”

ABOUT IMF BENTHAM IMF is one of the leading global litigation funders, headquartered in Australia and with offices in the US, Singapore, Canada, Hong Kong and the UK. IMF has built its reputation as a trusted provider of innovative litigation funding solutions and has established an increasingly diverse portfolio of litigation funding assets.

IMF has a highly experienced litigation funding team overseeing its investments. We have a 90% success rate over 184 completed investments and have recovered over A$1.4 billion for clients since 2001.

For further information please see Tom Glasgow and www.imf.com.au. As Chief Investment Officer (Asia), Tom Glasgow leads the Asian investment activities and business expansion for IMF Bentham. Prior to joining IMF Bentham, Tom was a senior member of market leading international arbitration and disputes practice in Asia, where he handled complex multi-jurisdictional commercial matters for leading global businesses across a range of sectors.

ABOUT BOIES SCHILLER FLEXNER

Boies Schiller Flexner is a firm of internationally recognized trial lawyers, crisis managers and strategic advisors known for their creative, aggressive and efficient pursuit of success for the firm’s clients. The firm has an established record of taking on and winning complex, ground-breaking and cross-border matters in diverse circumstances and industries for many of the world’s most sophisticated companies. The firm has 15 offices located throughout the United States and in London. It is also the only AmLaw firm with two Vietnamese-speaking partners with extensive first-chair trial and arbitration experience.

For further information please see Luan Tran, Quyen Ta and Boies Schiller Flexner.

Luan Tran has more than 20 years of experience in international arbitration. He has handled, both as counsel and arbitrator, some of the most significant Vietnam-related international arbitration matters. He co-authored the Vietnam chapter for two major international publications. Prior to BSF, Luan was an international arbitration partner at a prominent Vietnam-based law firm. He was also an early member of the international arbitration practice at Quinn Emanuel Urquhart & Sullivan. He is currently a member of the AAA-ICDR’s Council and Asia Advisory Committee.He has three law degrees, including one from Harvard Law School. Quyen Ta co-leads Boies Schiller Flexner’s Bay Area practice. She is a graduate of UC Berkeley School of Law and is a highly sought-after trial lawyer who has more than 15 years of experience litigating high-stakes disputes in the United States and in international arbitrations. Her practice has included representing top Asian-based companies, such as Taiwan Semiconductor Manufacturing Company, in its most sensitive cross-border matters, and which has included litigating jurisdictional issues throughout the United States. Her current clients include top Fortune companies, as well as Asian-based companies such as VNG Corporation (Vietnam) and Rakuten (Japan).
Commercial

Journalist Seeks Litigation Funding in Al Jazeera / Muslim Brotherhood Case

Journalist Peter Greste, formerly of Al Jazeera's Egyptian bureau, was imprisoned by the Egyptian government for coordinating with The Muslim Brotherhood, a group branded a terrorist organization  by Egyptian authorities. After spending 400 days in prison and then being deported to Australia, Greste is now seeking litigation funding for a lawsuit against Al Jazeera, his former employer, whom he says lied to him about their relationship with The Muslim Brotherhood and caused him to be incarcerated in Egypt. As reported in Ahram Online, Greste, along with two other members of Al Jazeera's Egyptian bureau, were imprisoned for seven years for being members of The Muslim Brotherhood and fabricating news stories which supported the terrorist group's agenda. The Muslim Brotherhood briefly controlled the Egyptian government, before a coup by General Abdel Fattah el-Sisi overthrew the regime, imprisoning its leaders and declaring them a terrorist organization. Al Jazeera, the Qatari state-owned media outlet, had a cozy relationship with The Muslim Brotherhood. Greste claims he had no knowledge of Al Jazeera's links to the organization, and now intends to sue the news organization for negligence which resulted in his incarceration by Egyptian authorities. Greste is seeking $1MM in litigation funding to support his legal claim, which he intends to file from Australia, where he is currently residing after having been deported by Egyptian authorities a little over a year into his sever-year sentence. In March 2018, 18 members of the house of representatives, along with Senator Ted ‎Cruz, issued a letter to the US Attorney General ‎calling for Al Jazeera to be labelled a “foreign agent." Currently, the government of Qatar is under pressure by neighboring Arab countries including Saudi Arabia, Egypt and the UAE to shut down Al Jazeera, which they claim supports and promotes terrorism.
The LFJ Podcast
Hosted By Yasmin Mohammad |
On this episode of The Litigation Finance Podcast, we sat down with Yasmin Mohammad to discuss international arbitration, specifically the role that arbitral institutions are playing as relates to litigation funding. We also discussed the rise of litigation funding in the Middle East, and why jurisdictions like the UAE, Saudi Arabia and Qatar are now starting to welcome funding with open arms. [podcast_episode episode="3727" content="title,player,details"]