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NYU Center on Civil Justice Hosting Litigation Finance Conference

The Center on Civil Justice recently launched its Dispute Financing Library, a free, neutral repository of documents relating to the third-party litigation funding industry.  It is online at www.DisputeFinancingLibrary.org. To celebrate the Library's launch, the Center is hosting a luncheon and conference on the present and future of the litigation funding industry, looking at the state of the market and potential ethical concerns, with a keynote by Richard Painter. The Future of Dispute Finance: Pricing, Profits, and Policy will take place on October 18, from 12pm-4:30pm, in Greenberg Lounge in Vanderbilt Hall, 40 Washington Square South. For more information and to RSVP, visit https://tinyurl.com/y23baryf.
Announcements Commercial

Frances Coats joins Augusta as General Counsel

London 10th October 2019, Augusta today announces the appointment of Frances Coats as General Counsel, based in London.

Frances joins from diversified insurance business The Ardonagh Group, where, as Chief Counsel, she managed the Corporate and Commercial legal needs of the group. Coats was named as Legal 500 In-House Insurance Individual of the Year 2019, Legal Business’ Rising Star In-House Counsel of the Year 2019 and was listed in The Lawyer’s Hot 100 2019.

Frances’s recruitment is a further addition to Augusta’s management group following the arrivals of Proskauer’s Director of Professional Resources Polly Bahl as Chief Operating Officer (COO) and FTI Consulting Managing Director Leor Franks as Chief Marketing Officer (CMO). These additions reflect Augusta’s continued growth and investment in professional functions to support the increasing demand for dispute and litigation funding.

Commenting on the appointment, Louis Young, Managing Director at Augusta, said: “We’re pleased to welcome Frances to Augusta. With her deep experience of financial services in-house legal management, Frances will play an important role in advising on the next phase of our growth”.

Frances Coats commented: “I’m delighted to be joining leading litigation funder Augusta. As the business continues to grow, entering new markets and forming strong strategic client relationships, I’m looking forward to supporting Augusta's management team in the UK and internationally”.

About Augusta:

- Established in 2013, 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 has offices in London, Sydney, Melbourne and Toronto.

Uncategorized

Legal-Bay Settlement Funding Announces Extended Deadlines for Victims of Sexual Abuse

NEW YORK, Oct. 8, 2019 /PRNewswire/ -- Legal-Bay, the premier lawsuit funding company, previously reported on Governor Cuomo's new legislation to extend filing deadlines for sexual abuse survivors in the state of New York. The law went into effect last month, and since then, over 500 new cases have been filed. While most of the lawsuits targeted churches or scouting organizations, many were against Rockefeller UniversityHospital, where Reginald Archibald (now deceased) was employed as a pediatrician for decades, enabling him to sexually abuse over 1000 children. While the hospital has already settled over 200 cases, details regarding payout amounts have not yet been divulged. If you or a loved one require an immediate cash advance from your sexual abuse lawsuit, 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, "We applaud the efforts in New York and New Jersey to extend the statute of limitations on all sex abuse cases, and we are hopeful that more victims will take this opportunity to obtain some justice after years without a voice." New legislation in more than a dozen states offers sexual abuse victims the ability to sue their abusers up until they turn 55. Because of similar landmark decisions, Legal-Bay predicts an influx of new filings by the end of 2019. 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 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. Contact: Chris Janish, CEO
Email: info@Legal-Bay.com 
Ph.: 877.571.0405 SOURCE Legal-Bay LLC
Consumer

Divorce Funding Has Arrived

Couples save for weddings, not divorces. As a result, many are cash-strapped and taken aback by the high costs of divorce. This places undue burden on attorneys, who must often choose between working on contingency or turning away clients. Fortunately, divorce attorneys can leverage divorce funding options, which allow receivables to be covered as they emerge. As reported in Bloomberg, the average cost of a contested divorce ranges from $15-$30k. Of course some reach into the millions and last for many years. Many divorce attorneys end up bearing the brunt of these costs, or turning away clients who can't afford the expense. Litigation funding has permeated the Legal Services industry, and divorce law is no exception. Unlike traditional banks and finance companies which assess a prospective client's eligibility based on assets, credit or income score, divorce funders base eligibility off of the expected settlement of the claim. As a result, funding becomes available for legal fees, expert costs and living expenses. As with other consumer funding, divorce funding can enable clients to hire the best possible attorney - one whose billable hour might be outside the scope of the client's normal budget. This optimizes the outcome in the client's favor. Divorce funding is a relatively new sector of the consumer legal funding space - having truly emerged in the last decade. And with the high cost of divorce, it's likely here to stay.
Announcements Commercial

Debut Of Litigation Finance Firm BlueWhite Legal Capital Marks Latest Jules Kroll Venture, Leveraging Decades Of Legal And Business Success

NEW YORK, Oct. 7, 2019 /PRNewswire/ -- BlueWhite Legal Capital ("BlueWhite" or "the Company"), a privately-held litigation finance firm led by Jules Kroll, Aaron Rubinstein, Earl Doppelt, and Jack Blackburn – all prominent business, legal and finance professionals – today announced its official company launch. BlueWhite, which will focus on financing commercial litigation, is distinguished in an increasingly important industry by its experienced team; agile, strategic, and highly-focused approach; skills in asset tracing and recovery; and committed capital. "My colleagues and I are excited to launch BlueWhite Legal Capital and help build a leading firm that can deliver real value to companies and law firms," said Jules Kroll, Principal of BlueWhite and Chairman of K2 Intelligence and Kroll Bond Ratings. "We are veteran problem solvers who think like the lawyers and corporate executives we support, giving us powerful insight and a unique competitive profile." Mr. Kroll noted that commercial litigators are under increasing pressure to find business solutions that allow them to pursue meritorious cases with the right economics, and are finding litigation finance a value added approach. "Litigation finance is a powerful tool that can give companies and law firms a competitive advantage while enhancing efficiency and profitability. BlueWhite's team and I have worked to ensure that from day one, we are delivering these advantages with top-of-the-line capabilities, capital to deploy, and a culture of excellence and integrity," Mr. Kroll concluded. Uniquely Qualified Team of Business, Law, and Finance Professionals 
BlueWhite is led by its four principals: Jules Kroll, Aaron Rubinstein, Earl Doppelt, and Jack Blackburn. Each brings unparalleled experience at the highest levels of business, law, and finance:
  • Jules Kroll pioneered the business intelligence industry. He is the founder of K2 Intelligence, Kroll Bond Ratings, cybersecurity firm BlueVoyant, and Kroll Inc. He is currently the Chairman of Kroll Bond Ratings and K2 Intelligence. K2 Intelligence, which is an intelligence, investigations, and asset recovery firm, is one of the strategic owners of BlueWhite.
  • Aaron Rubinstein, most recently a partner at Arnold & Porter Kaye Scholer LLP, chaired the Kaye Scholer litigation practice for more than a decade.
  • Earl Doppelt was formerly a senior executive and general counsel of several major multinational corporations, including The Dun & Bradstreet Corporation, The Nielsen Corporation, and Walter Energy, Inc.
  • Jack Blackburn is a former Wall Street executive with experience in litigation finance, having spent his career with Freddie Mac, Citicorp, Merrill Lynch & Co., and Burford Capital.
The BlueWhite Approach 
The Company's strategy will focus on commercial litigation, with specific targeted areas to include breach of contract, securities, M&A, antitrust, fraud, breach of duty, bankruptcy, intellectual property, and asset recovery. BlueWhite's strategic relationship with corporate investigations firm K2 Intelligence is expected to provide a distinct advantage with respect to matters that involve tracing hidden assets and enforcing legal judgments. BlueWhite will target average initial litigation finance commitments between $5 and $15 million, while maintaining the flexibility to evaluate each matter on its own merits and, where appropriate, provide financing outside of this range. The collective experience and expertise of its principals and its relationship with K2 Intelligence will enable BlueWhite to be a highly effective strategic partner to lawyers, corporate executives, and other claimants. Committed Capital 
BlueWhite is backed by Magnetar Capital, a leading alternative asset manager with over $12.9 billion of assets under management1, and a wide range of alternative credit and fixed income, systematic investing, and energy and infrastructure investment strategies. The Company will operate with committed capital, allowing it to move quickly for the benefit of its funded parties. 1 Moelis & Company LLC acted as exclusive financial advisor and placement agent for BlueWhite Legal Capital. Arnold & Porter served as BlueWhite's legal advisor. For further information about BlueWhite Legal Capital, please visit BlueWhiteLegalCapital.com. SOURCE BlueWhite Legal Capital
Announcements Commercial

Financial Poise™ Announces “Ethical Problems Associated with Paying for Litigation,” a New Webinar Premiering October 16th at 1:00 PM CST through West LegalEdcenter™

CHICAGO (PRWEB) OCTOBER 04, 2019: Lawyers’ ethical duties don’t just inform how they do their jobs – they also dictate how they get paid. Join our panel for a discussion of ethical issues arising out of legal fee arrangements, from basic requirements of reasonableness to ongoing and developing law concerning third party litigation finance in multimillion dollar cases.

To learn more, click here.

The webinar will be available on-demand after its premiere. As with every Financial Poise Webinar, it will be an engaging and plain English conversation designed to entertain as it teaches.

About Financial Poise –  Financial Poise has one mission: to provide reliable plain English business, financial and legal education to investors, private business owners and executives, and their respective trusted advisors. Financial Poise content is created by seasoned, respected experts who are invited to join our Faculty only after being recommended by current Faculty Members. Our editorial staff then works to make sure all content is easily digestible. Financial Poise is a meritocracy; nobody can “buy” their way into the Financial Poise Faculty. Start learning today at https://www.financialpoise.com/

Announcements Commercial

Bryant Park Capital Arranges $104.5 Million in Capital for Legis Finance

NEW YORK, NY / ACCESSWIRE / September 23, 2019 / Bryant Park Capital ("BPC"), a leading middle market investment bank, announced today that Legis Finance Ltd. ("Legis" or the "Company") recently closed on a $104.5 million capital raise transaction with a global investment management firm. This financing adds to its current insurance and merchant banking capacity, and gives the Company a long-term capital partner to finance operations and originations.
BPC served as the exclusive financial advisor to Legis in connection with this transaction. "The Bryant Park Capital team acted as a true extension of our company and had our best interests in mind every step of the way. We could not have been more pleased with their professionalism and expertise in positioning the opportunity and helping us gain senior level access to leading specialty finance investors. I would highly recommend their services to any originator seeking to raise institutional capital," said Tim Scrantom, Managing Director at Legis Finance. About Legis Finance, Ltd. Founded by seasoned commercial litigation funding executives who launched one of the industry's first institutional investment funds in 2007, Legis was formed to disrupt the traditional commercial claim investment marketplace. Legis' model is centered around providing independent advice on structuring litigation finance investments and insurance solutions to leading global law firms. Through its partnership with one of the world's largest insurance groups, and now a global investment management firm, Legis has developed a suite of novel products geared to helping law firms and their clientele invest in large-scale commercial litigation assets. For more information about Legis, please visit www.legisfinance.com About Bryant Park Capital Bryant Park Capital is an investment bank providing M&A and corporate finance advisory services to emerging growth and middle market public and private companies. BPC has deep expertise and a diversified, well-founded breadth of experience in a number of sectors, including financial services, healthcare services and, more recently, cannabis. BPC has arranged lines of credit, raised growth equity, and assisted in mergers and acquisitions for its clients. The BPC team has completed over 300 assignments representing an aggregate transaction value of over $64 billion. For more information about Bryant Park Capital, please visit www.bryantparkcapital.com. Contact: Dan Avnir, Managing Director 212-798-8202 davnir@bryantparkcapital.com SOURCE: Bryant Park Capital
The LFJ Podcast
Hosted By Kevin Flood |
In this episode, we sat down with Kevin Flood - Chief Operating Officer of Segue Cloud Services. Segue is a customized software built on the Salesforce platform, designed to automate the business processes of pre-settlement funding companies. For more information on Segue, you can visit them at their website:  https://seguecloudservices.com [podcast_episode episode="4528" content="title,player,details"]
Commercial

Some Considerations for IP Lawyers Regarding Litigation Finance

The recent LF Dealmakers conference in NYC highlighted several key issues facing the funding industry. And there exists a clear overlap between litigation funding and IP, given that IP is the most-funded legal sector at the moment (additionally, the organizer of LF Dealmakers, Wendy Chou, hosts an annual IP Dealmakers event). So naturally, one of the topics discussed at LF Dealmakers is how IP lawyers should interact with the funding market. As reported in Above the Law, it's imperative that IP attorneys begin fostering relationships with funders. This includes discussing a funder's specific interests, submitting cases for diligence, and questioning funders as to how their service can benefit one's IP practice. The good news is that funders actually want to engage with attorneys - it's how they source investments, after all - so building rapport with funders shouldn't be too difficult. Funders are even looking at ways to innovate their product to enable partnerships with law firms (portfolio, defense-side, and small claims funding all come to mind). What's more, even with the devaluation of patent cases due to recent legislation, that hasn't dampened the funding community's interest in the sector. Patent claims are notoriously costly and time-consuming so there will always be a need for litigation funding, even if the risk/reward ratio isn't quite what it once was. One panelist at the LF Dealmakers conference recounted a story where one partner at an IP firm confirmed that the firm does not use funding. Meanwhile, another partner was actively soliciting funding for one of their claims. This underscores the need for IP lawyers to delineate a clear strategy with regard to funding - to what extent they will pursue it, and how they plan to approach the market. Like it or not, litigation funding and IP are highly-intertwined. Any IP lawyer who refuses to recognize this brave new world is missing out on a resource that his or her competitors are clearly leveraging.