


HOUSTON, April 28, 2020 /PRNewswire-PRWeb/ -- Lex Mundi, in conjunction with members of the Lex Mundi Litigation, Arbitration and Dispute Resolution Group, has published the first-of-its kind interactive guide - Lex Mundi Global Attorney-Client Privilege Guide. This one-of-a kind guide allows users to compare common and civil law attorney-client privilege information for more than 65 jurisdictions around the world -- all in a side-by-side customized report.
Attorney-client privilege differs significantly between states and countries and also between common and civil law jurisdictions. Some civil law jurisdictions do not recognize the privilege but instead protect the information through professional ethics rules or otherwise. At a time of global financial crisis, when companies are struggling to maintain operations and solvency in the wake of supply chain disruption and demand side collapse, companies know that litigation is looming. Now, more than ever, it is important for companies and their counsel to take steps to protect privileged information in anticipation of the litigation to come.
The Lex Mundi Attorney-Client Privilege Guide details what constitutes attorney-client privilege in common and civil law jurisdictions around the world. Specific topics addressed in the guide include:
Lex Mundi created the guide with the help of Jenner & Block LLP, Lex Mundi member firm for USA, Illinois. David Greenwald, partner with Jenner & Block LLP, explained, "Our goal in creating this guide is to enable counsel and their clients to identify key differences among jurisdictions' laws and to provide citations to primary sources for further research." He added, "The law of privilege, and the differences between jurisdictions, is often misunderstood. This guide provides ready access to this important information."
The guide's interactive and innovative format allows users to search for and download an individual jurisdiction's report or compare multiple jurisdictions in a side-by-side customizable report. The Lex Mundi Attorney-Client Privilege Guide can be accessed free of charge on the Lex Mundi website at: https://www.lexmundi.com/lexmundi/Attorney-Client_Privilege_Guide.asp.
About Lex Mundi Lex Mundi is the world's leading network of independent law firms delivering consistent, high-quality advice that is critical to solving complex cross-border challenges. Our carefully vetted, and continuously reviewed, top-tier member firms uphold the highest-level service standards while offering preferred access to more than 22,000+ lawyers worldwide in more than 125 countries. Supported by client-focused methods, innovative technologies, joint learning and training, member firms collaborate across borders and industries to deliver joined-up solutions focused on real business results for clients.
Through our innovative service delivery model, clients have the ability to assemble an ideal international legal team, with the best lawyers in the jurisdictions that match their unique footprint, flexed to their most significant legal challenges.
Lex Mundi member law firms are located throughout Europe, the Middle East, Africa, Asia and the Pacific, Latin America and the Caribbean and North America. Through our nonprofit affiliate, the Lex Mundi Pro Bono Foundation, our members also provide pro bono legal assistance to social entrepreneurs around the globe.
For more information, please visit http://www.lexmundi.com and http://www.lexmundiprobono.org.



LONDON, April 24, 2020 /PRNewswire/ -- AxiaFunder, the UK's first for-profit litigation funding platform, today announces its second case win, returning 93.75% to investors in just 15 months.
The breach of contract case, which was funded in February 2019, raised £12,000 to enforce an adjudication award against a property developer. The case was favourably settled following a three-party mediation.
It comes after AxiaFunder's first case win produced a 43.00% return in only eight months with no losses to date.
Cormac Leech, CEO and Founder of AxiaFunder, said: "We are pleased to announce our second case win, which has produced solid returns to our investors through an Innovative Finance ISA eligible bond which was 83% principal protected via insurance. Despite market volatility in the wake of COVID-19, litigation funding offers retail and institutional investors an opportunity to diversify their investment portfolio. Unlike equities, litigation funding is uncorrelated to financial markets and the economy, continuing to generate healthy returns to investors while many other assets classes are underperforming in the current economic climate."
AxiaFunder has a strong pipeline of vetted cases that will be launched over the coming weeks. The first of which is the relaunch of a pre-vetted case backing a 'Francovich' claim – an action seeking damages against a Member State for breaching EU law. The VAT dispute claim is being relaunched to reflect a recent unexpected strike-out application during the funding process. AxiaFunder expects a net 5.5x multiple on investor capital if the case wins at trial, which is expected in around 18 months. Risk Warning: Capital at risk and returns not guaranteed.
Despite COVID-19 and the resulting economic headwinds, AxiaFunder's latest investment opportunity – a portfolio of three commercial litigation cases – was fully funded less than 24 hours after the launch of its marketing campaign.
Leech added: "The litigation funding market is expected to grow as COVID-19 increases insolvency litigation. As the UK's first for-profit litigation funding platform, AxiaFunder is well placed to provide access to capital for many of Britain's SMEs, who would otherwise struggle to afford the cost of litigation.
"AxiaFunder takes a stringent approach to vetting cases and only invests in those that have an estimated probability of a favourable outcome for investors of at least 70%. The vast majority of cases settle before trial with AxiaFunder's investors typically getting paid before the claimant which improves returns."
AxiaFunder itself recently closed an equity round raising over £250,000 of working capital, some of which was raised through Seedrs, the equity crowdfunding platform.
To date AxiaFunder has in total raised £775,000 of litigation funding for 6 commercial cases.
About AxiaFunder
Launched in November 2018, AxiaFunder (an appointed representative Share In Ltd) which is authorised and regulated by the Financial Conduct Authority (FRN 603332) enables both retail and institutional investors to provide funding to claimants who cannot afford to pay for their legal disputes. Investors receive a return on their capital if the case wins, however should note that Capital is at risk and returns are not guaranteed.

INVESTOR INSIGHTS
Frequency In terms of frequency of co-investment opportunities, almost 50% of respondents indicated they have from 1 to 5 opportunities in a given year, with just over 20% in the 6-10 range, and a few managers indicating they had 20 such opportunities in a given year. The number of opportunities directly correlated with the size of the funder and the size of the cases they typically finance.
Co-Investor Characteristics Regarding the characteristics that are most important in a co-investment partner, speed to commitment and having a funded capital source ranked the highest, with responsiveness and understanding complex litigation also ranking highly. However, there was not a huge disparity in terms of the importance of the six criteria listed, suggesting that all criteria were factored into their decision-making process. Keep in mind that the compilation of rankings on the chart below is an average of the six criteria, so a high number on the chart should be viewed as being more important (even though that answer drew more 1's and 2's), whereas a low number on the chart should be viewed as less important. For example, 'Speed to Commitment' and 'Having a Funding Capital Source' both received the most 1's and 2's, but their average ranking is the highest and therefore most important. 'Flexible Capital' received the most 6's, but has the lowest average score, and is therefore the least important metric.
When we dive further into the ‘speed to commitment’ characteristic, we find the vast majority of respondents expect a commitment within 3-4 weeks. It remains to be seen if expectations and reality are in alignment, a good question to include in the next survey.
Expected Duration With respect to the underwritten expected duration, most fall within the 12-36 month range, which is consistent with duration expectations for the industry as a whole. However, 30% of respondents did indicate that duration was a function of the type of case being underwritten, with certain case types (patent, international arbitration, etc.) having longer durations and appeal cases having shorter durations.
Co-Investment Structuring In terms of insight into how these co-investment transactions are typically structured, the responses varied. In the ‘other’ category, some respondents indicated they have used a variety of the choices offered, whereas one respondent stated that they received a specified interest in the profits produced by the investment.
Current Co-Investors As it relates to where the current co-investment opportunities are being offered, the majority were offered to other funders, suggesting there is a fair amount of cooperation in the litigation finance marketplace. However, within the ‘other’ category, most respondents suggested it was a combination of all of the choices listed.
This brings to a close the results of our first commercial litigation finance co-investment survey. Slingshot Capital and Litigation Finance Journal would like to thank those that participated in the survey for their time and feedback. Our next survey will cover fundraising initiatives by fund managers in the commercial litigation finance sector. We anticipate making the fundraising survey an annual survey so we can track fundraising activities over time. If you would like to participate in future surveys, please contact Ed Truant here to register your interest.
Edward Truant is the founder of Slingshot Capital Inc. and an investor in the consumer and commercial litigation finance industry.