Trending Now

All Articles

3453 Articles
Community Spotlights

Member Spotlight: Rebecca K. Berrebi

By Rebecca Berrebi |

Rebecca Berrebi is the CEO and Founder of Avenue 33, LLC, a full service, litigation finance consultancy that provides brokerage, strategic advisory and recruiting services. She handles all types of matters within the litigation finance industry from single case financings to law firm portfolios to insured structured credit matters.  Rebecca has worked in the litigation finance industry since 2016, and her background as a private money transactional lawyer and funder allows her to serve clients with both legal acumen and keen business insight. 

Previously, she was the Head of Corporate Affairs at a leading litigation finance fund manager where she oversaw investments and served on many boards and committees, including of Eco Oro Minerals Corp. (CSE: EOM).  Rebecca graduated from Duke University, after which she worked in the political affairs and public relations industry.  She later obtained her law degree from Benjamin N. Cardozo School of Law, and practiced as a private equity M&A lawyer at Kirkland & Ellis LLP and at a global private equity fund. 

Company Name and Description:   Avenue 33, LLC serves litigants, funders, law firms and investors in addressing and closing the litigation finance knowledge and communications gaps in order to facilitate a more seamless, efficient and successful financing process – from outset to outcome.

Often even sophisticated parties come to a “dispute finance” matter with varying backgrounds, underlying understandings and assumptions. With information equality, alignment of interests, harmonization of expectations and clarity of process, the opportunities for maximizing positive outcomes and minimizing contention substantially increases for all stakeholders. Avenue 33 can provide guidance, strategic advice and support leading to efficient value optimization.

Company Website: www.avenue33llc.com

Year Founded:  2020

Headquarters:  Westchester, NY

Area of Focus:  Advising and brokering all types of litigation finance related matters

Member Quote: In this opaque market, visibility into trends and appetites of the players saves lawyers, clients, funds and all stakeholders time and money.  Experienced, high-quality brokers create value for individual deals as well as add credibility to the litigation finance industry generally.

Commercial Legal Innovation

Insurers Exploring Patent Monetization Products, Creating Potential Competition for Funders

By Harry Moran |

As LFJ reported in May, the impact of the decision by the US Court of Appeals for the Fifth Circuit to overturn a $1.6 billion judgement against IBM had led to insurers reconsidering their exposure around litigation insurance deals. However, new reporting suggests that one of the ways insurers are adapting to this environment is through a product offering that specifically targets patent infringement matters.

An article in Bloomberg Law examines a growing trend of patent monetization insurance, where insurers are offering new types of policies that will guarantee a portion of the payout that patent holders would receive in their patent infringement lawsuits. CAC Specialty is highlighted as one insurance broker that has already been involved in this type of product, with CAC’s Megan Easley arguing that “this serves as a really good alternative for folks with valuable intellectual property who are looking for lower cost financing”.

As part of this trend, insurers are looking to move away from single-case insurance towards insuring a portfolio of patent infringement cases, reflecting a longstanding movement in the litigation funding space. However, as the article points out, a growth in the number of insurers offering patent monetization insurance could represent a new form of competition for litigation finance providers.

Gaston Kroub, partner at Markman Advisors, commented on this trend and explained that “there’s a wider network of institutional investors that will dabble in litigation funding if there’s insurance involved because it becomes less binary.” Whilst Michael Gulliford, managing partner of Soryn IP Capital Management, highlighted that there are certain litigation funders who “an’t do an insured deal because the insured cost of capital is much lower than what they need to return to their investors.”

Commercial

Omni Bridgeway Releases Investment Portfolio Report

By Harry Moran |

Omni Bridgeway Limited (ASX: OBL) (Omni Bridgeway, OBL, Group) announces the key investment performance metrics for the three months ended 30 June 2024 (4Q24, Quarter) and for the 2024 financial year (FY24).

Summary

  • Investment income of A$391 million in FY24; A$65million provisionally attributable to OBL, excluding management and performance fees.
  • 76 full and partial completions and one secondary market transaction in FY24, delivered an overall multiple on invested capital (MOIC) of 2.7x.
  • A single Funds 2&3 investment had a partial completion resulting in A$43.7 million in gross income, with a MOIC of 8.6x.
  • The 34 full completions during 2H24 had a combined fair value conversion ratio of 118%, providing a first validation of the fair value of the overall portfolio.
  • A$631million in new fair value added from A$484million of new commitments in FY24.
  • Pricing at materially improved levels, up 28% for FY24 compared to FY23.
  • Strong pipeline going into FY25, with agreed term sheets outstanding for an estimated A$148million in new commitments.
  • OBL cash and receivables of A$123million at 30 June 2024.
  • A$0.8 billion of fair value in potential completions over the next 12 months.
  • Full transition from EPV to fair value has been completed.
  • Good progress on cost management and strategic initiatives.

The full investment portfolio report can be read here.

Announcements Commercial Legal Innovation

DecoverAI Raises $2M to Revolutionize Legal Technology with “Legal Brain” and Generative Defense

By Harry Moran |

DecoverAI, a pioneering legal technology company, is excited to announce that it has raised $2 million in seed funding, led by Leo Capital, with participation from other prominent investors. This funding marks a significant milestone in DecoverAI's mission to transform the legal industry through cutting-edge AI solutions.

Introducing DecoverAI

At DecoverAI, we harness the power of AI to save legal professionals time and money, addressing systemic flaws in both civil and criminal litigation that often result in widespread injustice. Our goal is to build a comprehensive "Legal Brain" - an Intelligent AI system that encompasses the capabilities needed for real world legal workflows, including discovering evidence, combining that with research and even generating different strategies for narratives to assist legal professionals. This includes eDiscovery, legal research, and case strategy development, providing a seamless and integrated experience. Under the technical leadership of Janar Ramalingam, our CTO, DecoverAI's flagship technology, Generative Defense, is set to elevate the practice of law by automating complex legal analysis and enabling legal professionals to craft compelling defense strategies with unprecedented efficiency.

A New Era for Legal Research and eDiscovery

One of DecoverAI's standout features is its ability to query several million documents or several terabytes of data simultaneously, providing legal professionals with rapid and comprehensive access to vast amounts of data and analytics. This capability is a game-changer for general counsels and law firms of all sizes, from boutique practices to the largest AmLaw 200 firms, as well as for plaintiffs seeking to leverage advanced technology for their cases. By offering a scalable solution that meets diverse needs, DecoverAI is positioned to become an indispensable tool across the entire legal industry.

Mission and Vision

At DecoverAI, our mission is to empower legal professionals with the tools they need to achieve better outcomes, faster. At DecoverAI, we envision a world where legal teams will be augmented with human-like intelligence served by smart AI-assisted platforms.

Lawyers handling both criminal defense and civil litigation will be able to harness the power of thousands of associates with perfect memory at their fingertips at a fraction of the cost of what it costs today.

Funding Utilization

The $2 million raised will be used to accelerate the development and deployment of our innovative technologies. The funds will be allocated to enhance our AI capabilities, expand product features, grow our teams, and invest in marketing and sales efforts to bring our solutions to a wider audience.

Quotes from Leadership and Investors

"We are incredibly excited about the potential of DecoverAI to revolutionize the legal industry. Our goal is to empower the best attorneys in the fraternity with the immense power and capabilities of large language models, enabling them to significantly uplevel themselves against their competitors," said Ravi Tandon, CEO of DecoverAI. "This funding will allow us to take significant strides towards realizing this vision and making a real difference for legal professionals."

"DecoverAI's Generative Defense is a game-changer for the legal industry. It represents the next generation of legal technology, providing tools that were previously unimaginable. We are thrilled to have the support of our investors as we embark on this journey," added Kevin J. Van Horn, COO & CRO of DecoverAI.

"DecoverAI's proposition is perfectly aligned with Leo Capital's focus on supporting tech-centric global solutions designed for large-scale disruption. As legal disputes increase, the burden on lawyers and judicial systems worldwide has become overwhelming, making it essential to harness the power of AI to transform legal workflows in a highly targeted way. DecoverAI's proprietary 'Generative Defense' is a groundbreaking solution that is poised to be transformative for law firms of all sizes," said Ravi Srivastava, Partner at Leo Capital.

About DecoverAI

Founded in 2024, DecoverAI is a Washington, D.C.-based legal technology company focused on delivering AI-driven solutions to enhance the efficiency and effectiveness of legal professionals. By integrating advanced AI with legal workflows, DecoverAI is setting new standards in the industry and driving the future of legal technology.

About Leo Capital

Leo Capital is a venture capital firm that invests in groundbreaking startups across various sectors, with a focus on technology-driven innovation. Leo Capital is dedicated to supporting visionary entrepreneurs and companies that have the potential to disrupt industries and create lasting impact.

Contact Information:

Kevin J. Van Horn
Chief Operating Officer & Chief Revenue Officer
DecoverAI
Email: info@decoverhq.com For more information, visit DecoverAI's website.

Commercial

ALFA Welcomes YIMBA as Newest Associate Member

By Harry Moran |

In a post on LinkedIn, The Association of Litigation Funders of Australia (ALFA) announced that it is welcoming YIMBA as its newest Associate Member. YIMBA becomes the 14th Associate Member of ALFA, following the inclusion of Shine Lawyers earlier this month.

YIMBA provides legal, commercial management and consulting services across a wide range of areas including: infrastructure, construction, transport, mining, energy, resources, renewables, property, environment, planning, Indigenous Business, land access, native title, land claims, cultural heritage, RAPs, ESG and dispute resolution.

YIMBA was founded by Damien Barnes and is a 100% Indigenous owned, managed and controlled firm, based out of Sydney.

In the post, ALFA said it was looking forward to working with the Damien Barnes, and the rest of the team at YIMBA.

More information about YIMBA can be found on its website. More details about ALFA and its members can be found here.

Announcements Commercial People Moves

Maz Ghorban Takes Helm as President of Rockpoint Legal Funding, Leading Expansion into Probate Funding

By Harry Moran |

Maz Ghorban, an experienced senior executive with a distinguished 25-year career spanning the legal services, call center, and software industries, has taken the helm as President of Rockpoint Legal Funding, a burgeoning leader in Litigation Funding. With extensive experience in scaling private and public companies, Ghorban is set to drive the company's mission to facilitate optimal case outcomes by providing critical funds and accessible medical treatment to plaintiffs, while delivering operational efficiencies and capital to law firms.

Ghorban's appointment comes at a pivotal time as Rockpoint Legal Funding prepares to launch its new venture, Rockpoint Probate Funding. His seasoned leadership and data-driven decision-making have already made a significant impact on shaping this new initiative. It is important to note that Rockpoint Legal Funding is not a financial, medical, or legal advisor, and individuals should seek appropriate professional advice for such matters.

Recognizing a need similar to litigation funding, probate funding offers substantial benefits for beneficiaries and executors who require access to funds during the often lengthy and complicated probate process. Probate funding can help heirs avoid the prolonged wait for their inheritance and can be utilized to cover expenses such as medical bills, funeral costs, and day-to-day living expenses.

Under Ghorban's leadership, Rockpoint Legal Funding is poised for significant growth and success among its already substantial offerings from pre-settlement and post-settlement funding to plaintiff and litigation funding and medical lien purchases. His strategic vision, combined with his deep industry knowledge and unwavering commitment to excellence, will drive the company's mission forward and enhance its reputation as a leader in the legal funding industry.

Mr. Ghorban jovially states, "To be blessed with the career I have had and the amazing teams I have worked with is something I will always be grateful for, but not until I arrived at Rockpoint did I truly feel at home, surrounded by a supportive team of managing executives, and the most highly reviewed and dedicated sales staff and client reps in the industry."

Before joining Rockpoint, Ghorban served as Executive VP and Business Unit CEO of Alert Communications, a subsidiary of Everservice and the largest legal-only intake call center in the United States. Ghorban's extensive background in supporting plaintiff and defense firms spans every part of the firm lifecycle. His comprehensive understanding of the legal services landscape positions him uniquely to lead Rockpoint Legal Funding and its new probate funding initiative to new heights.

As Rockpoint Legal Funding embarks on this exciting new chapter with the launch of Rockpoint Probate Funding , the company's future looks brighter than ever. With Ghorban at the helm, Rockpoint is well-positioned to continue its legacy of excellence and make a lasting impact on the legal services industry.

For more information about Rockpoint Legal Funding and its new probate funding initiative, please visit the company's website ( https://rockpointlegalfunding.com/ ) or contact Dan Burks-Goodman at 424-502-4645x894 or 381053@email4pr.com

Announcements Commercial Fundraising

Omni Bridgeway Announces Partial Completion of Funds 2&3 Investment

By Harry Moran |

Omni Bridgeway Limited (ASX:OBL) (Omni Bridgeway) announces an in principle, partial completion of a Funds 2&3 investment following a settlement of the related litigation with certain defendants. The settlement is subject to the parties entering into a binding settlement agreement and court approval.  The partial completion is expected to generate gross income of $43.71 million in Funds 2&3. Proceedings continue with further investment deployments and proceeds anticipated. 

Omni Bridgeway expects to receive payment during the next 4 quarters, resulting in the following metrics (subject to prevailing foreign exchange rates):

 Cash basis(A$m)
Gross income43.7
Profit before tax38.6
MOIC8.6x
IRR %58%
Community Spotlights

Member Spotlight: Simon Warr

By Simon Warr |

Simon Warr heads up the legal Expenses division at AmTrust International. In his current role he focused on expanding the global reach of Adverse Costs, Capital and more general Legal Protection products.

Simon started in legal expenses insurance in 1989 and has worked consistently in a variety of roles within the profession ever since. His roles have consisted primarily of underwriting positions at a coverholder and insurer level but have also included business development and management positions within both the insurance company and Lloyd’s syndicate markets. Prior to joining AmTrust, Simon was at Brit Insurance and before that at Capita Insurance Services, Eastgate Assistance and Hambro Legal Protection for a number of years. Simon was President of Legal Protection International (LPI) for 7 years up until 2024. LPI was the global international legal expenses insurers association which carried out extensive work on market data and lobbying.

Company Website: www.amtrustinternational.com

Year Founded: 1998

Headquarters: Exchequer Court, 33 St Mary Axe, London, EC3A 8AA

Areas of Focus:  Legal Expenses Insurance, CPI and JPI

Quote on Litigation Funding: Litigation Funding, used wisely, provides access to justice – simple. In an ideal world we wouldn’t need it, but we don’t live in an ideal world, so it provides an essential part of the armoury needed to right wrongs.

Community Spotlights

Member Spotlight: Tom Webster

By Tom Webster |

Tom is the Chief Commercial Officer of Sentry Funding. Pivoting his financial advisory business into litigation funding in January 2020 after noticing the lack of technology in the space and seeing the pain litigators had in acquiring funding.

Tom heads up the day to day running of the business and works closely with the tech team providing strategic direction of the Sentry Portal.  As well as a background in finance, Tom also has experience in digital marketing, real-estate and is an angel investor.

Company Name and Description: Sentry Funding – Litigation funding marketplace that simplifies the process of arranging litigation funding through market leading technology.

  • Diverse panel of funders
  • Deal flow of vetted cases for funders based on a pre-set criteria
  • Post-funding support via our team of inhouse auditors
  • Exclusive automated funding options for cases that require less than £500k in funding
  • Associate member of ALF
  • ISO9001 & ISO27001 certified

Company Website: www.sentryfunding.co.uk

Year Founded: 2020

Headquarters: London, UK

Area of Focus: This year we passed the £100m of arranged funding via the Sentry Portal milestone. Our focus now is to provide our services to more funders and litigators to help improve the process of acquiring litigation funding globally.

Member Quote: ‘Access to justice’ feels like an overused expression but sadly the justice system is not a level playing field. Those without means are either at a disadvantage or excluded all together. I’ve always been passionate about litigation fundings ability to support those in need and as an industry we should be proud that our services change lives. It’s easy to forget about the human on the other side of our spreadsheets and financial forecasts, so it’s always a good exercise to remind ourselves of why we do what we do and that we hold an important responsibility to those people.