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The Next Wave of AI: What’s Really Coming in 2025

By Pete Hanlon |

The following post was contributed by Pete Hanlon, Chief Technology Officer of Moneypenny.

As CTO of Moneypenny, the leading outsourced communications company, Pete Hanlon brings a unique perspective to the transformative technology trends set to shape 2025 for lawyers. From advancements in AI to the realities of integration and regulation, he foresees pivotal changes that could redefine the legal profession and beyond.

Here’s a deep dive into what lies ahead—not just the obvious shifts, but the deeper changes that could impact how lawyers work,.

Open Source Is Coming for the Crown

The most exciting battle in AI isn’t unfolding in corporate labs, it’s happening in the open source community. They’re catching up fast, and were starting to see open source models going head to head with industry leaders such as OpenAI o1 and Claud-Sonnet-3.5. This isn’t just about matching performance metrics. It’s about making AI accessible to both large and small law firms that have been held back by data privacy concerns, opening doors for firms that have struggled to leverage this technology. The result? A new era where AI is democratized, accessible to all, and no longer controlled by closed source businesses.

Forget AI Replacing Lawyers – Think AI as Your Digital Colleague

Remember when everyone thought AI would replace many law firm jobs overnight? That’s not how it’s playing out. Instead, we’re witnessing the emergence of hybrid teams where AI takes on the repetitive tasks, leaving people free to handle more complex challenges. It’s less about replacing jobs and more about using AI to super power people and using data to enable smarter decision making. Moneypenny, for example, delivers outsourced communication solutions that blend the efficiency of AI with the personal touch of real people. This balanced approach boosts productivity and enhances customer satisfaction. 

Integration: The Real Challenge Nobody's Talking About

Here's where things get interesting and complicated. The next phase isn’t about building brand new AI systems, for lawyers it’s about weaving them seamlessly into existing business processes, work flows and infrastructure. Picture CRM systems that can predict what customers need, knowledge bases that update themselves, conversations that flow naturally between voice and text, and customer support that breaks language barriers. We understand the importance of seamless integration, and at Moneypenny, we’re fully embracing it helping legal teams embed AI powered systems into their infrastructure seamlessly . 

Industry Specific Models: Tailored AI for Specialized Needs

We’re entering an era of industry specific LLMs tailored for the legal field. These models will come pre loaded with domain-specific knowledge, enabling firms to deploy AI that understands their unique requirements, language, and regulatory needs. In finance, LLMs could support compliance and offer investment insights. In law, they could streamline contract review and case law analysis. These specialized models will allow companies to quickly implement AI that’s relevant, compliant, and impactful in their field.

The Reality Check Is Coming

Some firms may soon realize they've taken on more than they can handle with AI adoption, facing a range of unexpected challenges. Many will struggle with complex integration issues as they attempt to launch AI initiatives within existing systems. Additionally, there may be difficulties in managing the high expectations around AI’s capabilities, as reality often falls short of the hype surrounding its potential. 

Regulation: The Elephant in the Room

Law firms should prepare for the growing impact of AI regulations, particularly in customer facing applications. Forward thinking organizations are already taking steps to build transparency into their AI systems, overhauling data governance practices to ensure accountability. They are creating detailed audit trails to track AI decision making and making sure that their systems are both fair and accessible. These proactive measures not only help them stay compliant but also foster trust with their customers.

What This Means for lawyers

The next year won't just be about AI getting better – it'll be about AI getting smarter about how it fits into our existing world. Success won't come from blindly adopting every new AI tool. It'll come from carefully choosing where AI can genuinely improve how lawyers work.

The winners won't be the companies with the most advanced AI. They'll be the ones who figure out how to blend AI and human capabilities in ways that make sense for their business and their customers. Yes, we'll see AI continuing to be more accessible and capable. But the real story will be about how lawyers learn to use it wisely. After all, technology is just a tool – it's how the legal profession use it that matters.

Montero Agrees to Distribution of US$27 Million Settlement from Tanzania

By Harry Moran |

Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) announces that it has finalised the distribution of the US$27,000,000 settlement with its litigation funders, Omni Bridgeway (Canada). The settlement amount was agreed with the United Republic of Tanzania (“Tanzania”) in the dispute over the expropriation of Montero’s Wigu Hill rare earth element project (“Wigu Hill”).

The settlement amount of US$27,000,000 is payable over three instalments, and is to be distributed as follows:

  • First payment: US$12,000,000 received on November 20, 2024, and distributed between Montero and Omni Bridgeway (Canada), the Company’s litigation funder.
  • Second payment: US$8,000,000 due by January 31, 2025, to be distributed to Montero and to pay all legal fees.
  • Third payment: US$7,000,000 due by February 28, 2025, to be distributed entirely to Montero.

After paying funders and legal costs, the net amount due to Montero will be approximately C$20,577,545 (US$14,458,138).

Dr Tony Harwood, President and CEO of Montero commented: “I am pleased Montero successfully achieved an amicable distribution of proceeds of over C$20,000,000. We wish Tanzania success in attracting new mining investments and look forward to receiving the final two payments due within the next 5 weeks. Further notice of payments received will be forthcoming.

ICSID Arbitration

Montero and Tanzania jointly requested the arbitral tribunal to suspend the ICSID arbitration proceedings after receiving the first payment. Upon receipt of the final payment as scheduled, the parties will formally request the tribunal to discontinue the ICSID arbitration in its entirety.

Distribution of Funds

Montero is considering a return of capital distribution to shareholders. The exact amount is yet to be determined and will be subject to accounting review and board approval. In addition, Montero will retain funds to cover legal, taxation, and administrative expenses, including potential costs for arbitral proceedings, or enforcement actions in the event of delays or non-payment of the second or third instalments. The latter will now be the sole responsibility of Montero. The net amount of the award after deducting payments to the funder and covering legal expenses, cannot be determined with certainty, and no guarantees can be provided. Further announcements will be made in due course.

Disclaimer

The conclusion of the ICSID arbitration and payment of the remaining instalments is conditional on Tanzania’s compliance with the settlement agreement. The agreement does not provide for any security for the benefit of Montero in case Tanzania would not pay any instalment, in which case Montero can either resume the ICSID arbitration or seek enforcement of the settlement agreement.

About Montero

Montero has agreed to a US$27,000,000 settlement amount to end its dispute with the United Republic of Tanzania for the expropriation of the Wigu Hill rare earth element project. The Company is also advancing the Avispa copper-molybdenum project in Chile and is seeking a joint venture partner. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal and copper projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 50,122,975 shares outstanding.

Thomas Jones Joins TRGP Capital as Managing Director

By Harry Moran |

Thomas Jones announced that he has joined TRGP Capital as a Managing Director. Prior to his arrival at TRGP, Jones served as Managing Director at Legis Finance, a lawyers merchant bank providing litigation finance and risk mitigation solutions to law firms.

In a post on LinkedIn, Jones expressed excitement at taking on this new role: “In this new role, I'll be leveraging my experience to contribute to TRGP's mission of providing strategic litigation funding solutions in the UK, Europe and the US. I'm looking forward to working with the talented team at TRGP Capital and helping to drive innovation in the litigation finance industry.”

Jones also brings a wealth of experience in the legal industry, having spent over 15 years at Allen & Overy as a partner, as well as another year as a partner at King & Spalding. 

Founded in 2015 by Michael Rozen, TRGP Capital has become an established name among US litigation funders, having since expanded to offer a diverse array of legal funding services across multiple jurisdictions.

Turnmill Limited Expands Portfolio with Acquisition of Dealmakers Forums LLC

By Harry Moran |

Turnmill Limited, a leading global operator of large-scale events for the financial services sector, is pleased to announce the acquisition of a majority stake in Dealmakers Forums LLC, a premier organizer of high-level events in the legal, finance, and technology industries, based in Brooklyn, New York. This strategic acquisition marks the third company to join Turnmill's expanding portfolio, which also includes GBM: Global Banking & Markets and Completely Events, reinforcing Turnmill's commitment to facilitating deal flow and connectivity across complex markets.

Dealmakers Forums is renowned for curating high-impact events that bring together senior executives and thought leaders to foster connections, share insights, and drive deal flow. Their flagship events — LF Dealmakers, the premier conference for litigation finance, and IP Dealmakers, the leading forum for intellectual property transactions — are indispensable to industry insiders and recognized for exceptional content, top-tier speakers, and highly effective one-to-one meetings.

Alex Johnson, Group CEO of Turnmill Limited, commented: "We are thrilled to welcome Dealmakers Forums into the Turnmill family. Their deep sector knowledge and expertise in creating impactful events complements our mission to support deal flow progression by bringing entire market ecosystems together. This acquisition enables us to broaden our reach within financial services to the legal and technology sectors, enhancing the value we provide to our clients and stakeholders."

“Partnering with Turnmill is a transformative opportunity to amplify our impact and expand our global reach,” said Wendy Chou, founder and CEO of Dealmakers Forums LLC. “By uniting our expertise and shared dedication to excellence, we can elevate our event offerings, enhance the value we deliver to our participants, and create even stronger, more meaningful connections across industries globally.”

Adam Lewis, Partner at Horizon Capital, stated: "We are excited to continue to support Turnmill with this strategic acquisition. We believe this partnership will accelerate Turnmill's growth trajectory and further establish its position as a leading operator of large-scale marketplace events."

This acquisition underscores Turnmill's dedication to expanding its global footprint and diversifying its portfolio to serve a broader range of sectors and geographies within the financial services industry. By integrating Dealmakers Forums' expertise and established events, Turnmill aims to enhance its ability to facilitate high-level meetings and support deal flow progression across greater sub-sectors within global finance.

About Turnmill Limited: Turnmill Limited is a leading operator of large-scale events and services that support deal flow progression by curating entire market ecosystems and facilitating high-level meetings tailored to the financial services sector. Backed by Horizon Capital, Turnmill is established as a leading player, experiencing strong growth across its events portfolio in London, Dubai, Cape Town, Miami, Istanbul, and Riyadh. Turnmill's portfolio includes GBM: Global Banking & Markets, which produces finance and investment conferences bringing together corporates, finance professionals, and investors, and Completely Events, known for organizing the UK's leading retail property events.

About Dealmakers Forums LLC: Dealmakers Forums curates impactful event experiences for senior executives in the legal, finance, and technology industries. Renowned for its unwavering commitment to quality, Dealmakers Forums stand out with a results-driven approach that prioritizes one-to-one meetings and meaningful networking. By combining expertly crafted content, top-tier speakers, and a focus on building valuable connections, Dealmakers Forums delivers actionable insights and drives real business outcomes. Its flagship events include LF Dealmakers and IP Dealmakers.

About Horizon Capital: Horizon Capital is a private equity investor specialising in technology and business services. The firm was established by senior investment professionals who identified a significant market opportunity to invest in businesses in these sectors valued up to £100m. The partnership prides itself on its approach to helping business owners and managers realise their ambitions. Buy and build is at the heart of every Horizon Capital investment and the firm is a market leader in supporting companies pursuing this strategy. Horizon Capital has a proven track record in generating premium returns on investments. The unprecedented growth it delivers in its portfolio companies has been underpinned by deep and long-term investor relationships that span across two decades.

Arena Investors, LP and Fort Morgan Capital Partner to Launch $50 Million Litigation Finance Venture

By Harry Moran |

Arena Investors, LP ("Arena") and Fort Morgan Capital, a subsidiary of SimpleCITI Companies ("SimpleCITI"), are proud to announce the launch of a $50 million joint venture ("JV") focused on providing law firm finance solutions for US law firms. Targeting growth financing between $1 million to $15 million, the JV will offer capital secured by the value of a law firm's aggregate legal assets (cases).  Patrick Shannon will lead JV operations with a focus on diligence, underwriting, servicing, and originations.

About the Joint Venture

The JV has already started deploying capital, with the goal of delivering $50 million in tailored financing solutions.  Capital will be utilized to navigate growth by scaling operational infrastructure and investments in marketing.  This comprehensive approach ensures that law firms can focus on achieving successful outcomes without the financial strain of upfront costs.

Arena has a long history in legal asset investments, including its principals having helped build some of the earlier litigation finance platforms dating back to the late 1990s.  SimpleCITI builds on a proven track record of leadership and innovation across diverse industries, establishing itself as a trusted partner in solving complex financial challenges. Together, Arena and SimpleCITI leverage their unparalleled expertise to redefine client-focused solutions in litigation finance."

Strategic Collaboration

Arena Managing Director, Victor Dupont, noted that "Arena is very excited to expand and build upon our nearly decade-long relationship and successful track record with Patrick in this new joint venture.  Fort Morgan Capital will serve a critical role in working with select legal practices and market participants in navigating liquidity challenges amid this fluctuating market, while also promoting sustainable operational and marketing growth."

"This JV represents a strategic milestone for Fort Morgan Capital," said a SimpleCITI spokesperson. "By partnering with Arena, we're unlocking new opportunities for law firms to grow sustainably while maintaining financial stability.  This venture underscores our commitment to innovation and value creation in the litigation finance space."

Pat Shannon added, "Our focus on episodic opportunities within litigation finance aligns perfectly with this venture. Together, we are delivering a scalable platform that empowers law firms to thrive in a competitive landscape."

About Arena Investors, LP:

Arena Investors, a subsidiary of Arena Investor Group holdings, is an institutional asset manager founded in partnership with The Westaim Corporation (TSXV: WED). With approximately $3.5 billion of invested and committed assets under management as of December 31, 2024, and a team of over 180 employees in offices globally, Arena provides creative solutions for those seeking capital across all corporate, real estate, and structured finance investment areas, at all levels of the capital structure, and in all developed markets, alongside operational capabilities to manage and improve businesses.  The firm brings individuals with decades of experience, a track record of comfort with complexity, the ability to deliver within time constraints, and the flexibility to engage in transactions and business operations that cannot be addressed by banks and other conventional financial institutions. See www.arenaco.com for more information.

About SimpleCITI Companies:

SimpleCITI Companies is an operational-first platform specializing in real estate (SimpleEQUITIES), litigation finance (Fort Morgan), and fiduciary advisory services (SimpleADVISORY). The firm provides institutional-grade solutions across sophisticated markets. Fort Morgan, the litigation finance division, offers innovative funding solutions for law firms, blending conservative valuation with operational expertise. SimpleADVISORY ensures disciplined underwriting and compliance to support Fort Morgan's strategic initiatives.

About Pat Shannon:

Pat Shannon brings extensive industry expertise, previously serving as Chief Operating Officer at Mustang Litigation Funding, a platform renowned for its proficiency across diverse litigation finance disciplines. With a focus on episodic and idiosyncratic opportunities in niche sub-sectors, Pat leads the JV's diligence, underwriting, and origination efforts.

Community Spotlights

Community Spotlight: Jeffrey Stern, Partner, Reed Smith

By John Freund |

Jeffrey Stern plays a leading role as partner in the Financial Industry Group resident in Reed Smith's New York office. With more than 30 years’ experience in structured finance and derivatives, Jeffrey brings a deep commercial sensibility to his practice.

He has completed securitizations, structured credit facilities, and derivatives/structured products transactions involving an exceptionally wide range of esoteric (and mature) asset types. His practice includes CLOs (including private CLOs), CFOs, and rated feeders, litigation pre-settlement funding, consumer loan finance, equipment lease finance, music royalty finance, financing and securitization of insurance-related assets (including life settlements and broker commissions), and specialty finance. Additionally, Jeffrey has worked in Latin America and the Caribbean for nearly 20 years, focusing on cross-border assets and cash flow financings.

Company Name and Description: Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, they deliver smarter, more creative legal services that drive better outcomes for clients. Their deep industry knowledge, long-standing relationships and collaborative structure make them the go-to partner for complex disputes, transactions, and regulatory matters.

Company Website:  https://www.reedsmith.com/en

Founded: Pittsburgh in 1877

Headquarters: New York

Areas of Focus: FinanceStructured FinanceFinancial ServicesCollateralized Loan ObligationsLatin America

Member Quote: “The field of litigation pre-settlement funding (and litigation funding generally) is an increasingly important category, and a particular area of innovation in documentation and structuring, within the esoteric structured finance market. As a result, it has become an area of real focus for the Reed Smith structured finance team.”

Industry Leaders Share Views on the State of Third-Party Funding

By Harry Moran |

Legal funding has never before achieved such widespread adoption and acceptance within the legal industry, whilst simultaneously attracting increasingly vociferous opposition from those who wish to see limitations on its influence enforced. 

In its latest Quarterly Focus, Commercial Dispute Resolution (CDR) looks at the prospects for the third-party litigation funding market in the year ahead, highlighting both the tremendous progress the industry has made and the persistent critics who continue to call for enhanced regulations. In the article, CDR garners insights into what the coming year may hold from senior executives at some of the largest litigation funders, as well as those working with funders at law firms and consultancies.

The established and accepted position of legal funding is a key talking point with funders, as Burford Capital’s David Perla emphatically states that “legal finance is mainstream”, whilst William Marra from Certum Group points out that after many years of educating and raising awareness, “litigation funding is integral to the business models of many and maybe even most law firms.”

Despite the achievement of becoming a mainstream feature of the legal services industry, critics of third-party funding have not relented in their vocal opposition to its use, and if anything, have turning up the heat on lawmakers to introduce restrictions. Boris Ziser, a partner at Schulte Roth & Zabel, offers the straightforward rebuttal to these critics that he doesn’t “see how anyone can argue with the fact that litigation funding increases access to justice.”

Similarly, Avenue 33’s CEO, Rebecca Berrebi points out that the most prominent critique of third-party funding, the US Chamber of Commerce cannot be considered an unbiased observer as it “is funded by the big defendants in many of the cases that are funded”.Additional analysis from these top executives on the various legislative efforts to restrict legal funding, and the role of the courts, can be found in the CDR article.

A Funder’s Top Tips on Litigation Valuation for GCs

By Harry Moran |

As litigation funders strive to forge closer relationships with lawyers, one benefit for all participants in the legal industry is the opportunity to share best practices.

In an article for Today’s General Counsel, Jeffery Lula, principal at litigation funder GLS Capital, suggests that in-house legal departments and GCs should adopt the litigation valuation approach used by litigation funders. Lula argues that in-house counsel “often take an ad hoc approach to valuation—which can lead to biased or imprecise evaluations”, whilst funders’ very longevity is tied to their ability to repeatedly evaluate lawsuits accurately. As a broad framework for litigation valuation, Lula highlights four key components that should be assessed: legal merits, damages, duration and collectability.

On the legal merits of any individual case, Lula suggests adding a level of ‘qualitative rigor’ by evaluating the probability of success for each significant milestone of the litigation, such as the probability of losing a motion to dismiss or motion for summary judgment. When it comes to assessing the scale of possible damages, Lula emphasizes that ‘damages are not created equal’, and that ‘this nuance regarding the certainty of damages is key to valuing a case.’

Whilst Lula acknowledges that the duration of a lawsuit is often hard to predict, he does point a particular spotlight on the scheduling order for courts, and the importance of understanding ‘whether the current scheduling order is likely to change.’ Lula closes his piece by noting that of all these components, collectability often receives less focus than others, and that it is of utmost importance for ‘in-house counsel to inquire whether the defendant entity is expendable.’ 

Heirloom Fair Legal Acquires Hayes Connor and Launches Law Firm

By Harry Moran |

As we approach the end of the first month of 2025, one trend that is beginning to develop is the launch of combined legal services outfits. Following the launch of Legatus Holdings Limited earlier this month, another strategic venture has been announced that sees funding, legal representation, and insurance combined under one roof.

An article in The Law Society Gazette covers the announcement from litigation funder Heirloom Fair Legal, that it is launching a ‘one-stop shop’ for legal representation, disbursement funding, after-the-event insurance and adjudication. To achieve this strategic expansion, Heirloom has acquired Hayes Connor Solicitors, whilst also launching its own law firm, HFL Law. This in-house law firm already boasts 28 employees, with a view to further expansion, whilst Hayes Connor will retain its own branding and offices under the new umbrella group, with the addition of capital and back-office support from Heirloom.

Heirloom was founded in 2022 by Canadian husband-and-wife entrepreneur Geoff Dover and Beth Hirshfeld, and has reportedly provided more than £25m of funding to law firms since its inception. Dover, who will assume the role of managing director for HFL Law, said that “the current claims market demonstrates a lack of efficiency, misalignment and a high degree of complexity”, and emphasised that this new approach can provide “a better way”.

David Thompson, director at Hayes Connor, provided the following comment on the law firm’s acquisition: “This is the beginning of an exciting new phase for Hayes Connor. The support and infrastructure of Heirloom Fair Legal means that we can focus on implementing our strategic plans, while helping them to develop their dynamic model for consumer claims.”

In the press release announcing the venture on Heirloom Fair Legal’s website, the company states that it “will continue to provide bespoke funding solutions to law firms and their clients and has plans to make its after-the-event insurance available to other law firms in 2025.”

Legal Bay Presettlement Funding Reports Updates to Zantac Lawsuits

By Harry Moran |

Legal-Bay LLC, a leading pre settlement funding company, reports that November's $2.2 billion ruling against GlaxoSmithKline has still not been distributed to 80,000+ Zantac plaintiffs. The UK-based pharmaceutical company has been the target of numerous lawsuits for the past five years with plaintiffs alleging the popular heartburn medication causes cancer, and that the company failed to warn users that its main ingredient—ranitidine—may be a human carcinogen.

Testing last month determined how such dangerous levels of ranitidine ended up in the antacid product. As it turns out, impurities in the NDMA found in ranitidine increase when exposed to higher temps and humid conditions. Meaning that the Zantac may have been manufactured correctly, but when it was stored in a damp bathroom or glove compartment of a car, users themselves may have unwittingly triggered the very agent that caused their cancer. 

Chris Janish, CEO of Legal Bay, says, "GSK felt it was in the company's best interest to settle the lawsuits in order to appease shareholders rather than draw out litigation endlessly, especially considering they have been able to do so while providing no admission of liability. While we don't have an exact timeline for when payouts are expected to begin, we are nonetheless offering funding for Zantac plaintiffs while they wait."

To apply for a cash advance lawsuit loan from your anticipated GSK Zantac lawsuit settlement, please visit the company's website HERE or call 877.571.0405.   

There is no way to estimate final settlement amounts or how much each plaintiff's case will be worth. Similar case values have been determined based on extent/amount of injuries along with the level of merit to the case. Each case is unique, and many factors go into deciding final damages. For the Zantac lawsuit payouts, plaintiffs will fall into one of three tiers:

  • Tier I:

Tier 1 injuries can expect payouts in the $300,000 range.  Injuries in this tier include cancers of the stomach, prostate, pancreas, or breast.

  • Tier II:

Tier 2 injuries can expect payouts between $80,000 and 160,000 in most cases.  Injuries in this tier include cancers of the major organs like bladder, kidney, or liver.

  • Tier III:

Tier 3 injuries are looking at payouts anywhere between $20,000 and $60,000.  Injuries in this tier vary greatly, but to a lesser extent than Tier I or II.

The verdicts in these lawsuits are wildly inconsistent and entirely unpredictable, and Legal Bay says there are no guarantees of award amounts nor time frames for payouts just based on the sheer number of claims to process. Nevertheless, Legal-Bay is one of the few legal funding companies who are providing some financial relief to Zantac lawsuit plaintiffs and their families with risk-free, non-recourse cash advance settlement loans. They have been a leader in the mass tort and Qui Tam arena for over fifteen years and have vast experience within this space. These litigations are complex, and Legal Bay has the knowledge and understanding to help plaintiffs navigate the complicated waters of the legal system.

If you're a plaintiff in an active GSK Zantac lawsuit and need an immediate cash advance from your anticipated settlement, please visit the company's website HERE or call 877.571.0405 where agents are standing by to hear about your specific case. 

Legal-Bay is one of the best lawsuit loan companies when it comes to mass tort and Qui Tam litigations, and has a great reputation within the industry. Legal-Bay assists plaintiffs in all types of class action and mass tort lawsuits, including: Round Up, Hernia Mesh, IVC Filters, Essure, Exactech hip and knee recall, Sex Abuse cases, JUUL, and more.

Legal-Bay assists plaintiffs in all other types of lawsuits including personal injury, dog bites, motor vehicle accidents, medical malpractice, police brutality, unlawful incarceration, workplace discrimination, wrongful termination, and more.

Legal-Bay's loan for settlement funding programs are designed to provide immediate cash in advance of a plaintiff's anticipated monetary award. While it's common to refer to these legal funding requests as settlement loans, loans for settlements, law suit loans, loans for lawsuits, etc., the "lawsuit loan" funds are, in fact, non-recourse. That means there's no risk when it comes to loans in lawsuit settlements because there is no obligation to repay the money if the recipient loses their case. Therefore, terms like settlement loan, loans for lawsuit, loans on settlement, or lawsuit loan funds don't necessarily apply, as the "loan on lawsuit" isn't really a loan at all, but rather a stress-free cash advance.

Legal-Bay is known to many as the best lawsuit funding provider in the industry for their helpful and knowledgeable staff, low rates, and quick turnaround, sometimes within 24-48 hours once all documents have been received.

To apply right now for a loan settlement program, please visit the company's website HERE or call toll-free at: 877.571.0405 where agents are standing by to answer any questions.

CAT Finds in Favour of Professor Andreas Stephan in Amazon Claims

By Harry Moran |

Whilst last week saw a flurry of activity in the Competition Appeal Tribunal (CAT) as trials began in multiple collective proceedings, this week has seen the Tribunal hand down a ruling in a carriage dispute between two claims both targeting Amazon for allegations of anticompetitive behaviour.

A press release from Geradin Partners highlights the judgment from the CAT in a carriage dispute, which saw the Tribunal find in favour of Professor Andreas Stephan in collective proceedings being brought against Amazon. The carriage dispute related to the parallel claims brought by Professor Stephan and by the British Independent Retailers Association (BIRA), over allegations that Amazon engaged in anticompetitive practices that harmed third-party sellers on the online marketplace. Professor Stephan’s proceedings had instructed Geradin Partners and secured litigation funding from Innsworth, whilst BIRA had instructed Willkie Farr & Gallagher and agreed to funding from Litigation Capital Management (LCM).

In its ruling, the CAT found that whilst BIRA had an advantage in its suitability to act as the class representative, “this was clearly outweighed by the factors which favour Prof Stephan”, which it identified as “the scope of the claims and the expert methodology.” Although the CAT highlighted that the breadth of Professor Stephan’s claims “would no doubt enlarge the scope of a trial and therefore make it more complicated”, the ruling cited case law in emphasising that his claims “more consistent with the goals of access to justice by capturing more viable claims”.

The published judgment also shed light on the details of the funding arrangements in the claims. Professor Stephan’s litigation funding agreement (LFA) with Innsworth committed a maximum of £32.9 million to cover costs and expenses, with an additional commitment “to pay adverse costs of £5 million until the grant or refusal of a CPO and of £20 million thereafter.” As to the returns outlined in the funding agreement, Professor Stephan’s LFA with Innsworth “provides for a total multiple rising from 4 up to 10 (if the recovery is after the commencement of the substantive trial).” The CAT noted that the returns from Professor Stephan’s LFA were higher than for the funder in the BIRA claim, in the conclusion of its examination the Tribunal noted that “the funding arrangements of the two applications are a neutral factor in choosing between them.”

The CAT’s full judgment in the carriage dispute can be read here.

Additional analysis of the CAT’s ruling and its implications for future carriage disputes for funded proceedings can be found in a LinkedIn post from Matthew Lo, director at Exton Advisors.

Ayse Yazir Appointed Managing Director at Bench Walk Advisors

By Harry Moran |

Ayse Yazir has started a new position as Managing Director at Bench Walk Advisors. This latest promotion comes in the seventh year of Yazir’s tenure at the market-leading litigation funder, having joined the firm in 2018 as a Vice President and most recently having served as Global Head of Origination.

In a post on LinkedIn, Yazir reveals that her work at Bench Walk Advisors incorporates a wide range of matters across the litigation funding industry including international and commercial arbitration, insolvency, class actions and global litigation matters as well as law firm and corporate portfolio arrangements and defense funding.

Yazir also expressed her delight at starting the new role and thanked her fellow Bench Walk Advisors’ managing directors Stuart Grant and Adrian Chopin for the opportunity.

Judge Preska Orders Argentina to Comply with Burford Discovery Request

By Harry Moran |

As we enter yet another year in the story of the $16.1 billion award in the case funded by Burford Capital against the YPF oil and gas company, a US judge has ordered the Argentine government to provide additional information about the country’s financial assets to the funder as part of its efforts to collect on the award.

An article in the Buenos Aires Herald provides an update on the ongoing fight to recover the $16.1 billion award in the YPF lawsuit, as a New York judge ordered Argentina to comply with a discovery request for information around the Argentine Central Bank’s gold reserves. The order handed down by Judge Loretta Preska followed the request made by Burford Capital in October of last year, with the litigation funder citing media reports that Argentina’s Central Bank had moved a portion of its gold reserves overseas.

Lawyers for Argentina’s government had submitted a letter last week arguing against the discovery request on the grounds that the Argentine Republic and Central Bank are legally separate entities, and that any such gold reserves have “special protection from execution under [United States’ Foreign Sovereign Immunities Act] and UK law.” Responding to these arguments in her order, Judge Preska stated plainly that “regardless of whether the gold reserves are held by [the Central Bank], the Republic shall produce its own documents concerning the reserves.”

Judge Preska also ordered the Argentine government to provide additional information concerning its SWIFT data on its overseas accounts and for documents from another lawsuit brought against the Republic, saying that all this information could “lead to other executable assets.”

Latest Burford Quarterly Explores Key Trends Driving Innovation in Commercial Disputes in 2025

By Harry Moran |

Burford Capital, the leading global finance and asset management firm focused on law, today releases its latest Burford Quarterly, a journal of legal finance that explores top trends at the nexus of law and finance.

This Burford Quarterly examines the innovative ways in which businesses and law firms are reimagining their financial strategies around commercial disputes. Examples of this include law firms using creative billing structures as alternatives to hourly fees; companies choosing to opt out of litigation to maximize and accelerate recoveries; or businesses monetizing IP assets, allowing for continued investment in other vital areas of the business.

Articles in the Burford Quarterly No.1 2025 include:

  • The innovation engine: Legal finance for forward-thinking law firms

As law firms launch into 2025, a year that promises continued disruption and opportunity, innovation is not a choice—it's an imperative. Forward-thinking firms are reimagining their financial strategies, moving beyond traditional models to embrace legal finance as a critical tool for transformation. In this article, Travis Lenkner and Emily Slater explore innovative ways legal finance is helping firms solve pressing challenges and accelerate growth. 

  • Healthcare antitrust opt-outs: Improving liquidity by monetizing valuable legal claims

An increasing number of healthcare businesses are recognizing the value that legal finance provides in helping to mitigate the financial strain of high-cost litigation and expedite recoveries in high-stakes litigation. Ahead of a March 2025 opt-out deadline for claimants in the Blue Cross Blue Shield (BCBS) antitrust class actions, Charles Griffin summarizes insights from a recent webcast in which experts from Burford and Paul Hastings presented factors hospital networks and providers should consider in weighing their options.

  • Legal finance and life sciences: Unlocking IP potential in pharma, biotech and medical devices

Innovation in Europe's life sciences and pharmaceutical sectors is vital, but long R&D cycles and short profit windows pose challenges. Joshua Harris explains how legal finance helps companies protect and monetize IP assets, enabling continued investment in life-saving technologies.

  • International arbitration in London: Next-Gen leaders' perspective

Geoff Nicholas, Christiane Deniger and James MacKinnon lead a Burford roundtable with London-based arbitration lawyers. Partners from A&O Shearman, Debevoise & Plimpton, Bryan Cave Leighton Paisner and Freshfields share their insights on key trends and challenges shaping international arbitration, including the use of technology and AI and arbitral efficiency.

Aviva Will, President of Burford Capital, says: "While the legal industry may be slow to evolve, legal finance is a powerful tool to drive innovation in the business of law. This issue of the Burford Quarterly highlights key trends in commercial litigation and arbitration in 2025 and shows how litigation funding continues to shape the legal industry. By providing capital and mitigating risk, funding removes barriers for businesses and facilitates growth, and the latest Quarterly brings insights, analysis and real-world examples of tools to help business executives, GCs, CLOs and law firm attorneys recognize and harness the full potential of finance for law."

About Burford Capital

Burford Capital is the leading global finance and asset management firm focused on law. Its businesses include litigation finance and risk management, asset recovery and a wide range of legal finance and advisory activities. Burford is publicly traded on the New York Stock Exchange (NYSE: BUR) and the London Stock Exchange (LSE: BUR), and it works with companies and law firms around the world from its offices in New York, London, Chicago, Washington, DC, Singapore, Dubai and Hong Kong.

For more information, please visit www.burfordcapital.com.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares or other securities of Burford.

Community Spotlights

Community Spotlight: Noah Wortman, Founder and CEO, NRW Consulting

By Harry Moran |

As Founder and CEO of NRW Consulting, Noah brings his extensive experience in assessing and analyzing corporate misconduct in the financial markets, as well as his commitment to finding global litigation and shareholder engagement solutions to investors across the world. He has extensive experience advocating for global investors, promoting corporate governance and investor stewardship, and implementing strategies to achieve collective redress.

Noah splits his time between Philadelphia and London with a global remit where he strives to provide access to justice for global institutional investors (including financial institutions, superannuation schemes, asset managers and owners, and sovereign wealth and pension funds) and others via engagement and litigation strategies including global shareholder litigation (class/group, opt-out/direct, and opt-in), antitrust/competition/cartel litigation, complex financial litigation, global privacy/data breach litigation, and global patent litigation.

Most recently, Noah was Director of Global Collective Redress at Pogust Goodhead and immediately prior was Senior Manager, Collective Redress at Omni Bridgeway where he worked with global institutional investors to implement litigation funding strategies to aid in exercising their shareholder rights in seeking legal redress from publicly listed companies where an alleged wrongdoing had occurred.

Noah is a frequent speaker around the globe on the topic of shareholder legal redress, recovery, rights and responsibilities. He has also been a member of several leading global institutional investor organizations and currently serves on the Advisory Board of Perfect Law’s Global Class Action and Mass Torts Conference. He has also served on the International Corporate Governance Network’s (ICGN) Global Stewardship Committee and its former Shareholder Responsibilities Committee, the Sovereign Wealth Fund Institute’s Event Advisory Board, and the Council of Institutional Investors’ Markets Advisory Council.

Company Name and Description:  NRW Consulting supports, recommends, and creates pathways to recovery for global investors and consumers harmed by corporate misconduct, including securities fraud, market manipulation, and violations of global regulatory requirements.  

Company Websitehttps://www.nrwconsultingllc.com 

Year Founded:  2018

Headquarters:  Consulting globally. Operating out of Philadelphia and London.

Area of Focus: When value erosion has been caused by corporate misconduct or fraud within an investee company, there are established and effective remedies for restitution. One of the most successful recourses is collective redress through group or class actions. Institutional investors have successfully used this option around the world to recover significant sums on behalf of beneficiaries.

With diverse global investor portfolios, institutional investors may need to consider class actions in multiple countries. Therefore, pursuing claims through class actions, direct actions, shareholder derivative actions, and/or funded group actions offers the opportunity to, on a de-risked basis: hold wrongdoers to account, influence corporate conduct and governance, or potentially institute corporate governance reform.

Noah also sits on the Advisory Board of Perfect Law. Perfect Law presents the annual Global Class Actions and Mass Torts Conference that takes place in London (https://www.perfectlaw.co.uk). The conference brings together a vertiable who’s who of the global collective redress community including judges, academics, practitioners, funders, industry providers and experts from all over the world to discuss, debate and learn from each other regarding the cases and issues of the day with the common goal of furthering access to justice.

Member Quote: "Litigation funding is a cornerstone of access to justice, allowing investors, consumers, individuals, organizations, and communities to seek legal recourse and exercise their right to pursue legitimate claims regardless of their financial circumstances. By enabling cases to proceed on their merits, it upholds fairness and accountability within the legal system, offering a powerful means to hold corporate wrongdoers to account." 

Community Spotlights

Community Spotlight: Uliana Pak, Vice President of Growth, Torticity

By John Freund |

Uliana is a seasoned professional known for bridging technology, data-driven insights, and strategic partnership development to streamline business operations and transform customer experiences. Across a dynamic career spanning institutional finance, digital advertising (IoT) and litigation technology, Uliana has consistently leveraged advanced analytics, artificial intelligence, and user-centered design approaches to elevate organizational performance that focus on driving the long-term value proposition for the firms.

Company Name and Description:  Torticity, LLC – Torticity is a comprehensive end-to-end suite of legal solutions tailored to the needs of law firms and legal industry participants. As a case workup platform, we specialize in handling large mass tort and personal injury case dockets at scale. Our unique value proposition as an outsourcing service provider is our robust suite of tech product offerings specifically designed around streamlining and expediting case processing for newly acquired cases, and evaluating progress on mid-stream case dockets.

Company Website: www.torticity.com

Year Founded:  2020

Headquarters:  Boca Raton, FL

Area of Focus:  As a VP of Growth at Torticity, she leads innovation initiatives aimed at business optimization through robust data aggregation, AI-powered analytics solutions, and enhanced client experience frameworks. Central to these efforts has been Uliana’s focus on driving transparency and standardization to the legal industry leaning on extensive assessment of case dockets to enable law firms, litigation funds and legal industry participants with better decision-making.

Amsterdam Court Approves Foundation in Privacy Class Action Against Google

By Harry Moran |

When looking for those jurisdiction most amenable to class actions supported by litigation funders, the Netherlands remains at the top of the list, as has been demonstrated once again today by a court’s approval of a privacy claim brought under the WAMCA regime.

An article on DutchNews covers the news that an Amsterdam court has approved the approach of a Dutch foundation to bring a claim against Google over allegations that the tech company violated the privacy of Android phone users. The court ruled that the Stichting Massaschade & Consument meets the admissibility requirements of the Act on Collective Damages in Class Actions (WAMCA). The court’s approval of the foundation’s structure and its involvement of a litigation funder means that the parties can now move forward with the class action which has reportedly registered over 100,000 consumers since 2023.

According to the foundation’s website, the class action is being financed by Eaton Hall Funding LLC, with the agreement allowing for the funder to receive 17.5% of the proceeds after costs, if the claim reaches a settlement or favourable ruling. Rubicon Impact & Litigation, an Amsterdam-based law firm, is providing legal representation for the claimants.

Frank Peters, co-founder and head of impact & litigation at Rubicon, emphasised the importance of working with a litigation funder on the case, stating that “you need very deep pockets to expose what Big Tech is trying to hide.” He explained that working with this funder, “our client was able to expose what information Google takes from Android phones, even when you are careful with your privacy settings”, and that the court’s ruling “makes clear that it is perfectly fine that  class actions come about like this.”More information about the claim can be found on the foundation’s website.

New Zealand Supreme Court’s Ruling Affirms Importance of Access to Justice in Common Fund Orders

By Harry Moran |

When it comes to funded class actions, most attention is paid to those proceedings underway in the UK, US and Australia. However, a recent ruling from New Zealand’s highest court has once again highlighted its position as a welcoming jurisdiction for funders and plaintiffs pursuing these group proceedings.

In an article on Lexology written by Nina Blomfield, James Caird, Jania Baigent, and Alice Poole from Simpson Grierson, these litigators analyse the impact of a recent decision by the New Zealand Supreme Court to reject a challenge to common fund orders (CFOs) in class actions. The ruling handed down at the end of 2024 saw the Supreme Court deny ANZ and ASB’s application for leave to appeal a lower court’s decision, which had reaffirmed the courts’ ability to allow CFOs to be made at an early stage of proceedings.

The origin of this appeal came from a 2022 High Court ruling, which confirmed the court had the jurisdiction to make a CFO in a class action but also ruled that it was too early to make a CFO prior to the conclusion of the stage 1 hearing. Two years later, the Court of Appeal affirmed the High Court’s decision on jurisdiction and went a step further in ruling that CFOs being made at an early stage of the litigation was beneficial in furthering access to justice.

In its decision, the Supreme Court found that both lower courts had ruled correctly, and when it came to the issue of timing re-emphasised the importance of access to justice. The justices highlighted the Court of Appeal’s reasoning that “access to justice is best achieved through a CFO being made as early as possible in a proceeding”, which in turn “gives the litigation funder a degree of assurance in relation to its return on its investment”.

The authors describe this decision as “a significant win for litigation funders and class action plaintiffs” and highlight the courts’ repeated “strong focus on access to justice in representative proceedings.”

The Supreme Court’s full judgment on the application for leave to appeal can be read here.

CAT Denies Certification for £494 Million Claim Brought Against Apple and Amazon

By Harry Moran |

The Competition Appeal Tribunal (CAT) has continued to dominate the legal funding headlines this week, as we have already seen two class actions commence at the Tribunal. However, a new judgment released yesterday provided an unexpected and disappointing result for another claim, as the Tribunal refused to certify the collective proceedings after raising concerns about whether the class representative “has the appropriate expertise and is supported by appropriate advice” to lead the claim.

Reporting by Reuters covers the decision by the CAT to deny certification for the collective proceedings brought by Professor Christine Riefa against Apple and Amazon, which alleged that the companies had colluded to remove resellers of Apple products and thereby inflate the prices of these products for consumers. The claim, which was valued at around £494 million, sought to represent a class size of over 36 million people, including any consumers who purchased Apple or Beats products from any retailer in the UK from 31 October 2018.

The decision to refuse the application for certification had its origins in the funding arrangements between Asertis and Hausfeld & Co to support the proceedings, and Prof Riefa’s ability as the Proposed Class Representative (PCR) to act in the interests of the class members balanced against the terms of the funding agreement.

The Tribunal’s judgment largely focused on the role of Prof Riefa as the PCR, and what they described as “considerable doubts about whether we could be satisfied that the PCR would fairly and adequately act in the interests of the class members, for the purposes of the authorisation condition.” The judgment provided a detailed account of the various iterations of the litigation funding agreement and the witness statements provided by the parties involved in the proceedings, with particular emphasis on Prof Riefa’s role as the PCR. 

At the centre of the judgment, was the CAT’s view on whether Prof Riefa had satisfied the authorisation condition, finding that when it came to the funding arrangements, she did not “have a good understanding” of both the “terms being offered” and “the overall context in which it is being advised”. In their conclusion to their assessment on the authorisation condition, the Tribunal’s panel said that their “key concern in this case is that Prof Riefa has not demonstrated sufficient independence or robustness so as to act fairly and adequately in the interests of the class.”

As to the further implications that this ruling might have on other collective proceedings, the Tribunal emphasised that they were neither “seeking to impose any specific conditions on the types of PCRs that are put forward”, nor were they “seeking to impose specific obligations on future PCRs as to the manner in which funding arrangements are negotiated.” However, the judgment made clear that the CAT’s primary concern “is for each PCR to demonstrate, to the satisfaction of the Tribunal, that it is suitably qualified to act for the class, and that the manner in which it has approached the funding arrangements reflects sufficient regard to the interests of the class members.” The judgment made clear that Prof Riefa had not demonstrated that she met those requirements in the application for the CPO. 

More information about the case, Christine Riefa Class Representative Limited v Apple Inc. & Others, can be found on the CAT’s website, with the full judgment available to read here

More information about the UK Apple and Amazon Claim can be found on its website.

CAT Trial Underway for Shipping Cartel Class Action Funded by Woodsford

By Harry Moran |

As LFJ reported yesterday, the start of 2025 has seen a flurry of activity at the Competition Appeal Tribunal (CAT), with two major class actions backed by litigation funders going to trial this week.

An article in City AM covers the start of the trial in the Car Delivery Charges class action at the CAT marking the first time that a follow-on cartel proceedings has gone to trial in the UK. The claim, which began in 2020, focuses on allegations that five shipping companies acted as a cartel between October 2006 and September 2012, raising the cost of shipping new vehicles to the UK and Europe. The trial against the two remaining defendants, MOL and NYK, follows the CAT’s approval of a settlement with CSAV in December 2023, and separate settlements with WWL/EUKOR and “K” Line in December 2024. 

Mark McLaren, a former executive at consumer group Which?, is acting as the class representative on behalf of UK consumers and businesses who were overcharged for vehicle purchases. Scott+Scott has been instructed as the solicitors for the claim, with Woodsford providing the litigation funding for the class action. The counsel team for the trial includes Sarah Ford KC and Sarah O’Keefe from Brick Court Chambers, and Nicholas Gibson from Matrix Chambers.

Belinda Hollway, lead partner at Scott+Scott, emphasised that “this trial marks a very significant milestone in the case and is the culmination of five years of hard work and dedication.” Holloway also highlighted the CAT’s approval of the previous settlements in the case, which she argued “demonstrates the power of the UK opt out regime to secure compensation for class members”.

In a post on LinkedIn, Woodsford said that they are “proud to be supporting Mark McLaren in the landmark Car Delivery Charges class action trial”, and that they “remain committed to the consumers affected by the cartel with settlements, in respect of 3 out of the 5 cartelists, in excess of £38m having already been reached in the course of 2023 and 2024.”

The trial is provisionally expected to last for ten weeks, with the claimants seeking to achieve around £100 million in compensation from the two remaining defendants.

More information about the class action can be found on the Car Delivery Charges website.

Past orders, judgments, transcripts and notices in Mark McLaren Class Representative Limited v MOL (Europe Africa) Ltd and Others can be found on the CAT’s website.

Five Funders Shortlisted for Inaugural Chambers UK Awards

By Harry Moran |

Whilst the new year is now in full swing and industry leaders are fully focused on their strategic priorities for 2025, it is still an apt time to recognise the work and achievements of law firms and litigation funders across the previous year.

The inaugural Chambers UK Awards is set to be hosted in London on Thursday 13 February. Building upon the firm’s work highlighting the world’s top legal professionals through its guides, Chambers' first annual awards event will celebrate the top legal teams across the UK. The awards categories cover a range of practices, from commercial disputes to international arbitration, with only a select few firms shortlisted for each award.

As part of this inaugural awards ceremony, Chambers will be honouring the top litigation funders in the UK and has already announced the five funders who are shortlisted for this award:

  • Bench Walk Advisors 
  • Harbour 
  • Manolete Partners 
  • Therium Capital Management 
  • Woodsford  

Those firms selected have already been recognised in the 2025 Chambers UK Guide, with the awards recognising each legal team for their outstanding legal work and achievements, impressive strategic growth and excellence in client service delivery. The awards are not exclusive to national law firms, with teams shortlisted in the ‘Regional Firm of the Year’ and ‘Scottish Firm of the Year’ categories.

The inaugural event is already sold out, but the full list of firms shortlisted across each category can be found on the Chambers website.

Harvey and LawPage, two legal tech companies, are sponsoring the event.

Rockpoint Legal Funding Highlights TrialBase’s Deposition Services as a Game-Changer for Legal Professionals

By Harry Moran |

Rockpoint Legal Funding is excited to introduce their integration with TrialBase (TrialBase.com), a leader in certified deposition services and legal reporting solutions, as a valuable resource for legal professionals. Attorneys can now instantly apply for litigation funding from Rockpoint directly within Trialbase in order to cover deposition costs on their cases.

TrialBase's cutting-edge deposition management services are uniquely positioned to enhance the efficiency of legal teams, while Rockpoint Legal Funding continues to provide trusted non-recourse funding solutions that empower attorneys to focus on winning cases.

Why TrialBase is an Ideal Resource for Legal Professionals:

Legal professionals often face complex challenges, from managing intricate discovery processes to ensuring financial stability for their clients. Together, TrialBase and Rockpoint Legal Funding can address these issues through:

1.    Streamlined Deposition Services:

TrialBase offers certified deposition management solutions through an integrated platform, helping legal teams save time and enhance case preparation.

2.    Financial Stability for Clients:

Attorneys can use Rockpoint's litigation funding to cover deposition costs and to reduce financial stress - allowing attorneys to focus on their case strategies without unnecessary delays.

3.    Secure Digital Workflow:

Both companies leverage secure, user-friendly platforms, enabling seamless, efficient support for legal professionals.

CAT Trial Begins in Apple App Store Class Action Funded by Vannin Capital

By Harry Moran |

The influence of multinational technology companies has unsurprisingly made them targets for collective proceedings brought on behalf of consumers and businesses, who allege that their positions of market dominance have been leveraged to unfairly raise prices. In what is likely to be the first of many in the UK, a lawsuit brought against Apple has commenced at the Competition Appeal Tribunal. 

An article in Reuters covers the start of the trial in the UK Apple App Store claim, with the claimants seeking up to £1.5 billion in compensation for Apple’s alleged abuse of its market dominance in charging app developers a 30% commission on its digital store and thereby causing customers to be overcharged for their App Store purchases. The claim is representing UK consumers who purchased an app, content, services or subscriptions from the App Store since 1 October 2015 whilst using an iPhone or iPad device, with the class action reportedly representing around 20 million customers.

Dr Rachael Kent, a researcher and senior lecturer at King’s College London is acting as the class representative, with Hausfeld & Co. providing legal advice and Vannin Capital financing the class action. The trial is expected to continue for seven weeks and conclude on February 27, with the Tribunal’s ruling to follow at some point in the next year.

More information about the class action can be found on the UK Apple App Store Claim website.

Past orders, judgments, transcripts and notices in Dr. Rachael Kent v Apple Inc. and Apple Distribution International Ltd can be found on the CAT’s website.

Asertis and KP Law Join Forces to Launch Combined Legal Services Venture

By Harry Moran |

In recent years, the alternative business structure (ABS) model for law firm ownership is one that has mostly been discussed in relation to the US, where individual states have relaxed restrictions on these kind of hybrid legal services models. However, a new company launched in the UK demonstrates that this jurisdiction may still be leading the way for innovative partnerships between funders, law firms, insurers and legal marketing services.

Exclusive reporting by Bloomberg Law covers the launch of the new legal funding venture Legatus Holdings Limited, whose subsidiaries include Asertis, KP Law, Toremis Speciality, and Cavis. This new business aims to provide a holistic approach to the funding of mass tort and group claims, with funding, legal services, insurance, and claims marketing and acquisition contained under one organisation. Whilst this new group will allow for these services to be aligned, the subsidiary businesses are reportedly not required to work exclusively within the Legatus business.

Speaking with Bloomberg Law, Legatus’ CEO Philip Holden said that the new company is unique within the UK in having “those four subsidiaries vertically integrated into legal assets.” Holden emphasised that “each operating business is led by market-leading professionals with established pedigrees in their respective fields”, and that forming this new venture will allow Asertis “to grow more rapidly”.

With the launch of Legatus, the internal structure and leadership of these subsidiary companies is evolving. As mentioned above, Holden has taken on the chief executive duties at Legatus, having previously joined Asertis in 2022 as general counsel for the funder. Duncan Hedar, partner at KP Law, will be assuming the role of CEO at Asertis, whilst the previous incumbent Ian Madej, will be taking on the position of chief commercial officer at Legatus. Nathan Hull, previously head of contingent and litigation risk at Vale Insurance Partners, will be leading the insurance services component in Toremis Speciality. Whilst, Neil Gee will be doing the same for the new mass tort marketing arm, Cavis.

Legatus’ newly launched website does not provide any additional details on the venture, but provides a registered address for Brabners LLP in Manchester.

Community Spotlights

Community Spotlight: Paolo Grandi, Partner, RPLT RP Legalitax

By John Freund |

Paolo Grandi is an accomplished legal expert specializing in commercial and corporate law. He advises on corporate investments, business unit transactions, capital operations, and joint ventures, taking a multidisciplinary approach to contract drafting and negotiations across sectors like energy, hi-tech, manufacturing, fashion, and real estate.

Paolo also handles litigation and arbitration in these fields, offering tailored solutions for civil, corporate, and commercial disputes. With expertise spanning environmental law, intellectual property, and technology-related crimes, he represents clients in judicial, arbitration, and mediation processes domestically and internationally. His team excels in litigation funding, risk assessment, and dispute resolution strategies.

He joined RPLT RP legalitax in 1997 and became a Partner in 2007. Beyond his legal practice, he has made notable contributions to the field, authoring publications on civil procedure, IT consultancy contracts, and hardware and software maintenance agreements. He is also a member of the Commission on Commercial Law and Practice at the International Chamber of Commerce (ICC).

Company Name and Description: RPLT. Where RP is RP Legal & Tax Professional Association, a firm founded in 1949 and present in Italy with six offices. And LT is Legalitax Studio Legale e Tributario, founded in 2013 and active in Rome and Milan. RPLT RP legalitax is the result of the merger that took place in 2023.

RPLT is a full-service reality in the legal and tax sector – and have assisted and advised dozens of companies, corporations, groups, investment funds, financial intermediaries, entities and administrations, in Italy and abroad. The partnership gives voice to the intention to combine our strategic skills and expertise to offer even more competitive, specialized and valuable professional assistance, while maintaining – in RPLT positioning idea – that matrix of independence that unites the company.

RPLT has 200 professionals including lawyers and accountants; more than 25 practice areas; 5 international desks covering Europe, Asia and Africa. RPLT adhere to the most influential international networks.

Company Website: https://www.rplt.it/en/

Year Founded: 1949

Headquarters: Turin

Other offices: Milan, Rome, Bologna, Aosta, Busto Arsizio

Area of Focus: Litigation, Commercial and Corporate Law

Member Quote: “Skill may spark success, but collaboration turns success into greatness. True victories are built on teamwork and shared vision."

NorthWall Capital’s Founder Shares Insights on Legal Assets Strategy

By Harry Moran |

Although litigation funding has grown into an increasingly mainstream sector of the broader legal services industry, the strategies that shape funders’ business models are often quite opaque to those outside the funding market.

A recent episode of the Alternative Fund Insight (AFI) podcast provided useful insights from Fabian Chrobog, founder of NorthWall Capital, who discussed the firm’s approach to legal assets and their strategy for scaleability in a wide-ranging discussion.

In the interview, hosted by Will Wainewright, Chrobog outlined NorthWall’s overall legal assets strategy: “We’ve had a lot of fun running that strategy, it’s been hugely successful. It’s generated some fairly outstanding returns for LPs and it’s something we continue to be very active in. So really what we are looking for, what we are good at, is the underwriting of complex collateral. Sometimes it’s a situational complexity, it could be these asset-backed situations which are fairly complex. 

In this case we provide loans to law firms that are secured by very large pools of potential proceeds from legal assets claims. These could be litigations that could generate in some cases hundreds of millions of revenues per case or over a dozen different cases. So, what we do is we can provide working capital to the law firm without taking security over any specific case, just saying we will get paid back from the first one, two, three cases you win or settle. 

This is not exactly rocket science because you can tell which cases are most likely to settle, because there is a lot of legal precedent or there might have already been settlement discussions. So, you provide that working capital and you effectively just underwrite the cases that you have a high degree of confidence could be successful, you zero everything else, and then you severely haircut the cases that you believe could be won or settled, and you lend against those at a very low loan to value.

At the end of the day, you just have to believe that one, maybe two, of these cases resolve and sometimes these dockets have 12, 15, 20 different cases where you should have a very high degree of certainty that you’re going to get repaid. We got into this because we started looking at one of these situations and we realised there was more to do, and we’ve been very successful in originating deal flow here.”

Asked by Wainewright about NorthWall’s decision-making process when it comes to choosing which legal situations to focus on, Chrobog said: “You’re trying to remove yourself from having to be right more frequently than you’re wrong. You’re trying to create a situation where there is really a very asymmetric risk-reward profile.

But then the way that you do it is, and what is different about NorthWall and how we approach this space, is that we’re credit investors predominantly. We’re looking at how can we reduce our downside. We always pair a credit analyst with a lawyer internally, and then we get external litigation advice to help us with the individual cases.

The credit analyst’s job is to make sure the firm doesn’t run out of money, the lawyer’s job is to make sure that we really truly understand these cases, and then the investment committee’s job is to make sure that we’ve been conservative in our underwriting process.”

Prompted by Wainewright on this being an example of the idiosyncratic strategy that you find within alternatives, Chrobog went on to expand on how NorthWall’s ensures its approach is attractive to investors.

“What you have to remember is that scalability is important. Scalability is important because the people that we have are very good and they expect to be compensated, so it’s a relatively expensive strategy to run. But our investors don’t want to invest small capital, they want to invest substantial amounts of money and they want to see it deployed. 

So, what we are really focused on is we only finance large portfolios of cases because it provides downside protection, a diversification of potential revenue streams, but it also allows for a certain element of scalability. There’s no point being in a niche strategy that you can’t scale to be meaningful.”

The full interview is available on the AFI website.

German Funder FORIS AG Highlights Strong Demand for Funding in 2024

By Harry Moran |

Whilst Germany is not a jurisdiction that is traditionally seen as a prime market for third-party legal funding, one litigation funder based out of Bonn is reporting that it has continued to see plentiful demand for dispute funding in 2024.

In an overview of its 2024 activities, Foris AG revealed that it has financed 29 new cases from almost 450 financing requests, maintaining the funder's average volume of funded cases over recent years. These new funded cases were from a range of different dispute areas including medical malpractice, inheritance, corporate and commercial contracts. The funder also saw a rise in the number of cases resolved, rising from 24 in 2023 to 33 in 2024, with FORIS AG's CEO, Frederick Iwans stating that around 80 percent of these cases reached successful resolutions.

In order to support this growth in the number of cases that FORIS AG is financing, the litigation funder and its partners launched a fund for professional investors. The fund, which has a target volume of 50 million euros, has already received its first subscriptions with Iwans saying that the high level of interest in the fund shows that litigation financing has struck a chord with potential investors.

The funder also announced that the submission of the annual report of FORIS AG with the audited annual results for 2024 is scheduled for March 28, 2025.

Legal-Bay Lawsuit Funding Announces Commercial Litigation/Breach of Contract Lawsuit Filed Against Developer Hart Lyman Companies

By Harry Moran |

Legal-Bay, a leading presettlement lawsuit funding company, announces a commercial litigation / breach of contract lawsuit filed against Hart Lyman Companies. The prominent Syracuse-based real estate developer was sued late Tuesday in New York State Supreme Court, Onondaga County. FILED: ONONDAGA COUNTY CLERK 01/07/2025 05:48 PM INDEX NO. 000134/2025

The plaintiff, Jonathon Geller, a longtime investor with Hart Lyman Companies, is suing for delinquent payments on investments and inspection of books and records of eight separate entities, which he alleges the companies have not complied with. Hart Lyman Companies is currently working on the largest development in central New York history, the Great Northern Mall, whose purchase was predicated upon its close proximity to the future site of Micron Technologies. Micron has committed $100 billion toward developing multiple chip fabricating facilities in Clay, NY. The plaintiff is also an investor in the Great Northern Mall project.

The plaintiff is represented by the LAZARE POTTER GIACOVAS & MOYLE LLP law firm in New York City by Robert A. Giacovas, Esq.

Chris Janish, CEO of Legal-Bay, commented, "Our firm is familiar with breach of contract and other commercial litigation such as this, and we do our best to work with plaintiffs who are having financial difficulties litigating matters against larger defendants.  Cases of this nature can take a long time to work their way through the courts and recover funds, regardless of the nature of the claims.  Due to the importance of the Great Northern Mall project for residents of central New York, we will continue to monitor updates of this case."

If you're looking for pre-settlement cash from your commercial litigation lawsuit or need a cash advance from your anticipated settlement for any other type of lawsuit, please visit the company's website HERE or call 877.571.0405 where agents are standing by to hear about your specific case. 

Legal-Bay funds commercial litigation and breach of contract cases, as well as many other types of lawsuits such as wrongful imprisonment, whistleblower or Qui-Tam, wrongful termination, personal injury, slips and falls, car, boat, or construction accidents, medical malpractice, wrongful death, dog bites, police brutality, sexual assault, sexual abuse, judgment or verdict on appeal, contract dispute, False Claims Act, patent litigation, copyright infringement, and many more. Legal-Bay has recently secured additional capital for these and other types of cases, and encourages plaintiffs or attorneys that have been denied funding in the past to apply with Legal-Bay.

Legal-Bay's loan for settlement funding programs are designed to provide immediate cash in advance of a plaintiff's anticipated monetary award. While it's common to refer to these legal funding requests as settlement loans, loans for settlements, lawsuit loans, loans for lawsuits, etc., the "lawsuit loan" funds are, in fact, non-recourse. That means there's no risk when it comes to loans in lawsuit settlements because there is no obligation to repay the money if the recipient loses their case. Therefore, terms like settlement loan, loans for lawsuit, loans on settlement, or law suit loan funds don't necessarily apply, as the "loan on lawsuit" isn't really a loan at all, but rather a stress-free cash advance.

Legal-Bay is known to many as the best lawsuit funding provider in the industry for their helpful and knowledgeable staff, and one of the best lawsuit loan companies overall for their low rates and quick turnaround, sometimes within 24-48 hours once all documents have been received.To apply right now for a loan settlement program, please visit the company's website HERE or call toll-free at: 877.571.0405 where agents are standing by to answer any questions.

Community Spotlights

Community Spotlight:  Nicole Clark,  Co-Founder and CEO, Trellis

By John Freund |

Nicole Clark is a business litigation and labor and employment attorney who has handled litigation in both state and federal courts. She’s worked at a variety of law firms ranging from mid-size litigation boutiques to large firms, and is licensed to practice law in three states. She has defended corporations and employers in complex class action and wage and hour disputes, as well as individual employment matters ranging from sexual harassment to wrongful termination.

Additionally, Nicole is the CEO, and along with Alon Shwartz, are the founders of Trellis, an award-winning solution that uses AI and machine learning to provide legal teams with strategic legal intelligence and analytics. Nicole has an intuitive understanding of technology and is deeply committed to helping legal teams leverage technology to gain a competitive advantage and achieve a more favorable outcome for their clients.    

Company Name and Description: Trellis is an AI-driven state trial court legal research, insights and productivity platform. The company makes the fragmented U.S. state trial court system searchable through a single interface, offering comprehensive insights into judges, cases, and opposing counsel.

Trellis offers an extensive suite of tools, including its newly released Trellis AI to automate litigation tasks, detailed judge bios and analytics, insights into law firms, company litigation history, daily filings reports, customizable alerts, court comparison analytics, and more.  With Trellis, litigation finance professionals will never miss out on a massive opportunity again by effortlessly tracking lawsuits across states and staying updated with ongoing litigation documents.

To learn how Trellis can help your team succeed, visit www.trellis.law or request a demo today.    

Company Website: www.trellis.law    

Year Founded: 2018    

Headquarters:  Los Angeles, CA    

Member Quote: “Trellis allows Litigation Funders to conduct due diligence, identify opportunities and set alerting across the United States state trial court system – the largest court system in the world.”

University of Utah Research Shows Effects of Funding Disclosure Orders on Patent Litigation

By Harry Moran |

The changing landscape of patent litigation in Delaware’s federal court is being driven by Chief Judge Colm F. Connolly’s standing order requiring the disclosure of third-party funding involved in these lawsuits. That is according to research conducted by Jonas Anderson, a professor at the University of Utah’s S.J. Quinney College of Law, which studied third-party litigation funding in Delaware and New Jersey. 

An article in Bloomberg Law examines the paper, ‘From Patents To Guns: Examining Third-Party Litigation Funding’, which found that in the two years following Judge Connolly's standing order from April 2022, the number of patent cases filed has totaled 1,121. This is a significant drop from the previous two-year period, which saw 1,899 patent lawsuits filed in the Delaware court. Similarly, in the New Jersey district court that also requires disclosure, Anderson found that since June 2021, only 88 cases out of 40,000 had disclosed that they were backed by third-party funding. 

Commenting on his findings, Anderson said that “from the evidence we’ve amassed, there’s a pretty good argument here that what’s going on is litigation funders don’t like disclosure.” He also noted that the result of this drop in cases being filed in Delaware resulted in an inverse rise in the number of patent suits filed in two district courts in Texas where there is no mandatory disclosure requirement for outside funding.

Michael Gulliford, managing partner and co-founder at litigation funder Soryn IP Capital Management, suggested that one of the reasons for a drop in the volume of cases in Delaware could be the court’s backlog of processing these suits. Gulliford explained that “the ability to get to trial in a speedy period of time” is a priority for funders, and that court backlogs in Delaware and other jurisdictions could pose a significant obstacle for litigation funders. William Marra, director at Certum Group, said that Anderson’s research supported his first-hand experience that “only a very small percentage of cases” are backed by litigation funders.

The full research and paper from Mr Anderson can be found here.