John Freund's Posts

3076 Articles

Litigation Funding and Expenses: Are We Bound for a Conflict of Interest?

There's been much talk about litigation funding and legal fees, and whether the existence of funding generates an inherent conflict of interest. While there are some legitimate concerns here, the anxiety is mostly overblown. In an increasingly-commoditized industry, litigation funders aren't likely to risk repetitional harm by directing or even influencing case management and strategy. All of that said, legal fees are only one side of the coin. Funders also cover case expenses, and here is an area where conflict of interest may actually arise. In Above the Law, Gaston Kroub, founding partner of IP litigation boutique Kroub, Silbersher & Kolmykov, points out that when claimants accrue expenses, they utilize the services of numerous vendors (experts, eDiscovery platforms, transcripts, etc.). These vendors are naturally expensive, and the litigation funder is the one footing the bill. It's therefore natural to assume that funders might try to steer clients toward preferred vendors - either those with lower costs, or vendors with whom they form preferential relationships. Some have already expressed concern that funders may be nudging (for lack of a better term) claimants towards certain vendors, or in not utilizing support services out of a costs concern. While funders may counter that this in fact keeps the legal team honest (it's not unheard of for lawyers to suggest the use of superfluous experts/vendors in a bid to run up expenses), the potential for a conflict still exists. And at the very least, the optics aren't great. Kroub argues that in the long-term, the more forward-thinking funders may even build out their own in-house discovery teams and support services. Claimants may then be contractually obligated to utilize the funding company's vendor platforms.

Court Orders Tom Girardi to Reveal Financials in Law Finance Claim

Tom Girardi, of the eponymous law firm Girardi Keese, has been ordered to deliver to his financials to the court after he failed to pay $6MM of a $16MM settlement with Law Finance Group. Law Finance sued Girardi for failure to repay a $15MM loan, and eventually settled on the $16MM figure, only to claim that Girardi skipped out on the final $6MM payment. As reported in The Blast, the court's order comes just days after Girardi's wife and Real Housewives of Beverly Hills star Erika Jayne was slapped with a $3MM lawsuit by Arizona-based law firm funder Stillwell Madison. Stillwell is also suing Girardi for alleged failure to repay an over $5MM loan the funder made. Stillwell is suing for the full $5MM, plus interest and damages. The embattled Girardi has been accused by both funders of spending their money on his and his wife's 'lavish lifestyle.' In addition to her role on The Real Housewives of Beverly Hills, Jayne sings a song titled "It’s Expensive to Be Me."

Hedge Fund Muddy Waters Alleges Burford’s Largest Shareholder Invesco Bailed Out One of its Clients

US-based hedge fund Muddy Waters has caused some serious ripples with its allegations against Burford Capital. In a recently released video, Muddy Waters CEO contends that Burford's largest shareholder - Invesco - essentially bailed out Napo Pharmaceuticals, a company whose legal claim Burford was financing. In 2013, Burford categorized Napo as a 'concluded investment,' with an ROIC of 113%. Yet according to Block, "there was actually a jury verdict in that case the next year, in 2014." The verdict was a loss for Napo, yet Burford had already concluded the case as a positive ROIC. Block claims that Burford entered into an agreement with Napo - the circumstances of which are unknown - whereby Napo owed Burford money. Yet after the jury verdict, Napo had to enter into a debt forbearance agreement, since it had no money to repay Burford. According to Block, Napo was merged into another company - Jaguar Animal Health - also run by Napo head Lisa Conte.  Jaguar then raised $8MM, and subsequently issued $8MM of stock to Burford. Block alleges that $3MM of the $8MM raised by Jaguar came from a fund managed by Mark Barnett, who is the protege of well-known UK investor Neil Woodford. So according to Block, an Invesco subsidiary - run by Mark Barnett - essentially bailed out a Burford investment. Block also contends that Burford likely 'wouldn't exist' if not for Woodford's investment. Woodford was previously at Invesco, before founding his hedge fund Woodford Investment Management. Block alleges that Burford got to mark up a positive ROIC during several years subsequent to the Napo case - in 2013 and 2014. According to Block, Burford's 2013 annual report claims a 53% ROIC. "Without Napo... the ROIC would have been only 2.9%." Block claims the company has been misleading investors for years, "and that pattern continues today." No response yet from Burford's management about the allegations, which have sent the stock plummeting 50%.

New Survey Shows 98% of Attorneys Who Use Litigation Finance Would Re-Use

A new survey by Validity Finance and ALM has yielded some impressive results for litigation funders to harp onto. A full 98% of attorneys surveyed who had used litigation finance at least once in the past said they would do so again, and 93% found their experience to be positive. According to the report, the two companies surveyed 285 private attorneys and 45 in-house counsel, for a total of 330 attorneys. In addition to the aforementioned results, the survey also found that 70% of respondents believe litigation funding to be a key disruptor in the legal space. And only 27% of those who had used funding in the past have lingering ethical concerns (primarily around privilege and confidentiality). While just 15% of respondents said they had used litigation funding in the past (which helps yield that awfully-high 98% figure), a full 50% claimed they are open to using funding in the future. The main reason? The high cost of litigation (no surprise there). The report comes on the heels of a recent Burford Capital study which found similar results pertaining to CFOs and Financial Executives at major corporations. Apparently, market adoption of litigation funding remains slow, yet there are still plenty of growth prospects given the results of the dual surveys. Surveys such as these may help allay the concerns of those who decry market saturation and excessive competition from an influx of capital into the space. Clearly - at least as far as the respondents to these surveys go - there's plenty of opportunity for that capital to be put to work.

Launch of ArbiLex Brings AI and Predictive Analytics to International Arbitration

CAMBRIDGE, Mass.Aug. 5, 2019 /PRNewswire/ -- ArbiLex today announced the launch of its Arbitrator Analytics Platform, which is transforming the practice of international arbitration by ranking arbitrators through a proprietary reasoning system to enhance decision-making by law firms and litigation funds. ArbiLex has successfully tested the efficacy of its algorithms with leading global law firms and litigation funds seeking a competitive edge in multi-billion-dollar cases around the world. International arbitration is one of the fastest-growing practice areas for global law firms and litigation funds. Last year, Singapore and Hong Kong became the latest jurisdictions to liberalize the entry of litigation finance into international arbitration, broadening beyond traditional venues such as the United States, where the litigation finance market size is estimated to be between $50 billion to $100 billion. "In the era of global litigation finance, international arbitration cases are emerging as a multi-trillion-dollar asset class. Under this new paradigm, the status quo of relying solely on anecdotal evidence and qualitative memos is insufficient. When the stakes are all-or-nothing, there needs to be a more quantitative, coherent and explainable framework in assessing deal risk," said ArbiLex Founder and CEO Isabel Yang, a statistician, economist and graduate of Harvard Law School with experience in law and policy across four continents. "ArbiLex's analytics solution leverages expert knowledge and probabilistic modeling to inform high-value strategic decisions, starting with the selection of arbitral tribunals, which is arguably the highest-value decision in any arbitration case," Yang added. Yang first tested the concept of ArbiLex in the Harvard Innovation Labs before forming the team earlier this year. Since then, the company has attracted world-class engineers, AI and machine learning scientists, and designers from organizations including Google, MITHarvard University, and IDEO. Law firms and litigation funds consider the application of ArbiLex to international arbitration as a potential game-changer. Yas Banifatemi, Partner and Co-Head of the International Arbitration practice at the law firm Shearman & Sterling, said: "Artificial intelligence is growing fast as a disruptive technology in the practice of international arbitration. ArbiLex represents a key initiative and has the ambition – and means – to become a leading resource in the field." Tom Glasgow, Chief Investment Officer for Asia at global litigation fund IMF Bentham, said: "ArbiLex brings data-driven intelligence to difficult and critical decisions like tribunal selection, providing an important objective overlay to the legal team's analysis. This will likely become a highly sought-after risk management tool for funders and commercial parties alike." Benjamin Roe, Lead Knowledge Lawyer for Global Disputes at the law firm Baker McKenzie, said of ArbiLex: "The kind of analysis provided by ArbiLex has the potential to transform arbitration." Mark Beckett, International Arbitration Partner at the law firm Cooley LLP, and an adviser to ArbiLex, added: "ArbiLex's use of AI will help counsel and clients test their positions, adopt the best strategy and provide important feedback on when it makes sense to fight and when it makes sense to settle. The array of tools significantly enhances the ability of counsel to help claimholders use the process intelligently and achieve better outcomes." SOURCE ArbiLex
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Editec Global HR Head joins Augusta

London, 5th August 2019, Augusta, the UK’s largest litigation and dispute funding institution by case volume - today announces the appointment ofAnna Malek as Head of HR, based in London. Anna joins from software and services group Editec where, as Global Head of HR, she managed the full range of people related functions.

Anna’s recruitment is the latest addition to Augusta’s management team following the recent arrivals of Proskauer’s Director of Professional Resources Polly Bahl as Chief Operating Officer (COO) and FTI Consulting Managing Director Leor Franks as Chief Marketing Officer (CMO). These hirings reflect Augusta’s growth and investment in professional functions to support the increasing demand for dispute and litigation funding. Commenting on the appointment, Louis Young, Managing Director at Augusta, said: “We’re delighted to welcome Anna to Augusta. With her broad experience of human resources strategy and tactics, Anna will play a key role around our most important asset, our people, who are critical to this important phase of our growth”. Anna Malek commented: “I’m excited to become part of the continued expansion of Augusta’s operations, given the potential for the business to grow in the UK and internationally. I’m looking forward to working with Augusta's capable management team and to support the development of a leading player in litigation and dispute funding”.

About Augusta Ventures: - Established in 2013, Augusta is the largest litigation and dispute funding institution in the UK by # cases with a team of 70 in London and 85 worldwide. Augusta’s scale enables us to make decisions in market-leading timeframes and fund cases of any size. - Augusta is organised into specialist practice groups: Arbitration, Class Action, Competition, Consumer, Intellectual Property and Litigation, and sectors: Financial Services and Construction & Energy. - By the end of H12019, Augusta had funded 213 claims with a market-leading win ratio of over 80%. - Augusta recently announced £25m funding deals with international law firm Pinsent Masons and leading litigation law firm HFW.

Ethical Considerations of Litigation Finance Under Scrutiny

As litigation funding gains mainstream acceptance, there have been more and more headline-making allegations which are casting a shadow over the industry. Despite the funding community's best efforts to assuage such ethical concerns, they persist and continue to plague the nascent market. As reported in Forbes, litigation funding fills a genuine gap in the market - not only for claimants who must face the prospect of excessive legal costs if they are to attain access to justice, but also for law firms who accept additional risk in order to meet client demand and offer contingency-fee arrangements (as opposed to the traditional billable hour model). Litigation funding reduces risk for both the claimant and the law firm, and does so without the onerous terms of a traditional loan. Consider that commercial banks offer loans at 5-7% interest, collateralized by an attorney's personal assets. Middle-market lender can charge upwards of 10-13%, and hard-money lenders 18-24%.  That is some costly recourse financing. Litigation funding offers non-recourse financing, which is much more attractive to risk-averse attorneys and claimants. That said, the ethical considerations of whether funders are indeed leveraging their stake in the claim to influence case strategy, as well as issues of privileged communication and even champerty and maintenance are continuously espoused by industry opponents. On the one hand, financing makes attorneys and claimants more independent (they are not beholden to financial concerns when pursuing their case). On the other, they may in fact be beholden to those who control the purse strings (the litigation funders). Critics of the industry contend that while litigation funding offers liquidity to claimants and attorneys, it can also be subjected to abuse, and therefore requires oversight. It is worth considering whether a clarified set of regulations around third party funding would actually benefit the industry, if only to assuage such ethical concerns.

Lawsuit Loans Market Growing Demand Rapidly 2019 With Major Players Oasis Legal Finance, Fair Rate Funding, High Rise Financial, LawCash, Mayfield Settlement Funding, Nova Legal Funding

Lawsuit Loans Market Industry Research Report focuses Market Size, Share, Growth, Manufacturers and Forecast to 2026. This Market Research Report primarily based upon factors on which the companies complete in the market and this factor which is useful and valuable to the business. This report has published stating that the Global Lawsuit Loans Market is anticipated to expand significantly at Million US$ in 2019 and is projected to reach Million US$ by 2026, at a CAGR of during the forecast period. Sample Report with Latest Industry Trends @: https://www.qyreports.com/request-sample/?report-id=221027 Lawsuit Loans helps the enterprises to monitor and maintain the overall functioning of the building infrastructure with quick response to any system failure. Globally, enterprises are continuously focusing on a sustainable model for facilities to reduce the carbon footprint of their organization. Top Key Companies Players Analyzed in this Report are: Peachtree Financial Solutions, DRB Capital, J.G. Wentworth Structured Settlements, Oasis Legal Finance, Fair Rate Funding, High Rise Financial, LawCash, Mayfield Settlement Funding, Nova Legal Funding, Pravati Capital Lawsuit Loans Market: Reports Intellect represents the detail analysis of the parent market based on elite players, present, past and futuristic data which will offer as a profitable guide for all Lawsuit Loans Market competitors. The overall analysis Advanced Lawsuit Loans Market covers an overview of the industry policies that Lawsuit Loans Market significantly, the cost structure of products available the in the market, and their manufacturing chain. The scope of the Lawsuit Loans Market report is as follows the report provides information on growth segments and opportunities for investment and Benchmark performance against key competitors. Geographically, the global mobile application market has been segmented into four regions such as North America, Europe, Asia Pacific and the rest of the world. Get Reasonable Discount on this Premium Report @: https://www.qyreports.com/ask-for-discount?report-id=221027 Finally, all aspects of the Global Lawsuit Loans Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects. The report supplies the international economic competition with the assistance of Porter’s Five Forces Analysis and SWOT Analysis. Following are the List of Chapter Covers in the Lawsuit Loans Market:
  1. Lawsuit Loans Market Overview
  2. Global Economic Impact on Industry
  3. Global Market Competition by Manufacturers
  4. Global Market Analysis by Application
  5. Marketing Strategy Analysis, Distributors/Traders
  6. Market Effect Factors Analysis
  7. Global Lawsuit Loans Market Forecast
About Us We at, QYReports, a leading market research report published accommodate more than 4,000 celebrated clients worldwide putting them at advantage in today’s competitive world with our understanding of research. Our list of customers includes prestigious Chinese companies, multinational companies, SME’s and private equity firms whom we have helped grow and sustain with our fact-based research. Our business study covers a market size of over 30 industries offering unfailing insights into the analysis to reimagine your business. We specialize in forecasts needed for investing in a new project, to revolutionize your business, to become more customer centric and improve the quality of output. Contact: QYReports Jones John +(1) 786-292-8164 204, Professional Center, 7950 NW 53rd Street, Miami, Florida 33166 sales@qyreports.com http://www.qyreports.com
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Global Lawsuit Loans Market Report 2019

Global Lawsuit Loans Market Report 2019 is a professional and in-depth research report on the world's major regional market conditions of the Lawsuit Loans industry, focusing on the main regions (North America, Europe and Asia) and the main countries (United States, Germany, Japan and China). The report firstly introduced the Lawsuit Loans market basics: definitions, classifications, applications and industry chain overview; industry policies and plans; product specifications; manufacturing processes; cost structures and so on. Then it analyzed the world's main region market conditions, including the product price, profit, capacity, production, capacity utilization, supply, demand and industry growth rate etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis. Get sample copy of this report@  https://bit.ly/2LSDBVP Some of the key players operating in this market include: Peachtree Financial Solutions,DRB Capital,J.G. Wentworth Structured Settlements,Oasis Legal Finance,Fair Rate Funding,High Rise Financial,LawCash,Mayfield Settlement Funding,Nova Legal Funding,Pravati Capital The report includes six parts, dealing with: 1) Basic information 2) The Asia Lawsuit Loans market. 3) The North American Lawsuit Loans industry. 4) The European Lawsuit Loans industry. 5) Market entry and investment feasibility. 6) The report conclusion. Reasons for Buying this Report This report provides pin-point analysis for changing competitive dynamics It provides a forward looking perspective on different factors driving or restraining market growth It provides a six-year forecast assessed on the basis of how the market is predicted to grow It helps in understanding the key product segments and their future It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments TABLE OF CONTENT: 1 Industry Overview of Lawsuit Loans Market 2 Manufacturing Cost Structure Analysis of Lawsuit Loans Market 3 Technical Data and Manufacturing Plants Analysis of Lawsuit Loans Market 4 Global Lawsuit Loans Market Overview 5 Lawsuit Loans Market Regional Market Analysis 6 Global (2015-2019) Lawsuit Loans Market Segment Market Analysis (by Type) 7 Global (2015-2019) Lawsuit Loans Market Segment Market Analysis (by Application) 8 Major Manufacturers Analysis of Lawsuit Loans Market 9 Development Trend of Analysis of Lawsuit Loans Market 10 Lawsuit Loans Marketing Type Analysis 11 Consumers Analysis of Lawsuit Loans Market 12 Conclusion of the Global Lawsuit Loans Market Professional Survey Report 2019 Get Complete Report@ https://bit.ly/2LSDBVP Contact Us: Sanjay Jain Manager - Partner Relations & International Marketing www.reportsandmarkets.com info@reportsandmarkets.com Ph: +44-020-3286-9338 (UK) Ph: +1-214-736-7666 (US) About Us: Market research is the new buzzword in the market, which helps in understanding the market potential of any product in the market. Reports And Markets is not just another company in this domain but is a part of a veteran group called Algoro Research Consultants Pvt. Ltd. It offers premium progressive statistical surveying, market research reports, analysis & forecast data for a wide range of sectors both for the government and private agencies all across the world. This release was published on openPR.
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How AI Can Help Litigation Funders Predict Legal Bills

Legal Tech is slowly-but-surely permeating all aspects of the Legal Services industry. And one fast-moving sector of Legal Tech is billing software, which seeks to scrape data on legal costs to better predict how much lawyers will end up charging on a given claim. As reported in LexBlog, Legal Tech firms can now aggregate billing data to develop more accurate budgets and track how lawyers perform against those budgets. Law firm-specific, or even lawyer-specific benchmarks can then be established, which can help funders and claimants assess which attorneys are most efficient with their time (and therefore cost less, for the same amount of work produced). Available software can also identify billing irregularities and guideline violations. Consilio's Sky Analytics is an AI-software that benchmarks lawyers using data from numerous companies and law firms. CounselLink's Insights is another analytical assessment tool, which maintains a database of 7 million invoices across 1.7 million legal matters that it uses to benchmark cost and efficiency. Though these tools are becoming more and more sophisticated, experts agree that humans are still needed to analyze and act upon the results provided. The software delivers natural benefits to both funders and claimants, who can better predict their legal spend as a result. Yet many experts also predict that law firms will begin using these tools to improve their own efficiencies, without waiting for funders or corporate clients to make such demands of them. Already, platforms like Headnote exist which help law firms better assess their realization rates and determine the causes of reduced rates. All told, AI will raise back the curtain of law firm billing, which remains an opaque cost center for claimants. Transparency is the new name of the game, and that bodes well for those footing the bills, including litigation funders.

Litigation Funding Investment Market Report 2019 Analysis By Major Players; Sydney-based IMF Bentham Ltd., and Apex

The research report, titled “Global Litigation Funding Investment Market Size and Forecast to 2024,” proposes an evaluation of this market on the basis of its history as well as the present-day performance. The report further emphasizes on each of the topographical segments. The principal driving forces, restrictions, hindering factors, key trends, opportunities, and future prospects of the global market have also been taken into consideration in this market study. Get The Sample Copy Here @ https://bit.ly/331GTv2 Some of the key players operating in this market include: Sydney-based IMF Bentham Ltd., Apex Litigation Finance, and Many More. The report firstly introduced the Litigation Funding Investment market basics: definitions, classifications, applications and industry chain overview; industry policies and plans; product specifications; manufacturing processes; cost structures and so on. Then it analyzed the world's main region market conditions, including the product price, profit, capacity, production, capacity utilization, supply, demand and industry growth rate etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins. The report includes six parts, dealing with: 1) Basic information 2) The Asia Litigation Funding Investment market. 3) The North American Litigation Funding Investment industry. 4) The European Litigation Funding Investment industry. 5) Market entry and investment feasibility. 6) The report conclusion. TABLE OF CONTENT: •Industry Overview of Litigation Funding Investment Market •Manufacturing Cost Structure Analysis of Litigation Funding Investment Market •Technical Data and Manufacturing Plants Analysis of Litigation Funding Investment Market •Global Litigation Funding Investment Market Overview •Litigation Funding Investment Market Regional Market Analysis •Global (2019-2024) Litigation Funding Investment Market Segment Market Analysis (by Type) •Global (2019-2024) Litigation Funding Investment Market Segment Market Analysis (by Application) •Major Manufacturers Analysis of Litigation Funding Investment Market •Development Trend of Analysis of Litigation Funding Investment Market •Consumers Analysis of Litigation Funding Investment Market •Conclusion of the Global Litigation Funding Investment Market Professional Survey Report 2019 Full Report Description @ https://bit.ly/331GTv2 About us Market research is the new buzzword in the market, which helps in understanding the market potential of any product in the market. This helps in understanding the market players and the growth forecast of the products and so the company. This is where market research companies come into the picture. Reports And Markets is not just another company in this domain but is a part of a veteran group called Algoro Research Consultants Pvt. Ltd. It offers premium progressive statistical surveying, market research reports, analysis & forecast data for a wide range of sectors both for the government and private agencies all across the world. Contact Us: Sanjay Jain Manager - Partner Relations & International Marketing info@reportsandmarkets.com Ph: +1-214-736-7666 (US) +1-352-353-0818 (US) This release was published on openPR.
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Crowdfunding Litigation Market Industry: global market trends, share, size and forecast report 2019-2024

Global Crowdfunding Litigation Market Report 2019 is a professional and in-depth research report on the world's major regional market conditions of the Crowdfunding Litigation industry, focusing on the main regions (North America, Europe and Asia) and the main countries (United States, Germany, Japan and China). Get The Sample Copy Here @ bit.ly/2K3XzLb Some of the key players operating in this market include: AxiaFunder’s, Burford Capital,and IMF Bentham The report firstly introduced the Crowdfunding Litigation market basics: definitions, classifications, applications and industry chain overview; industry policies and plans; product specifications; manufacturing processes; cost structures and so on. Then it analyzed the world's main region market conditions, including the product price, profit, capacity, production, capacity utilization, supply, demand and industry growth rate. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis. The report includes six parts, dealing with: 1) Basic information 2) The Asia Crowdfunding Litigation market. 3) The North American Crowdfunding Litigation industry. 4) The European Crowdfunding Litigation industry. 5) Market entry and investment feasibility. 6) The report conclusion. TABLE OF CONTENT:
    • Industry Overview of Crowdfunding Litigation Marke
    • Manufacturing Cost Structure Analysis of Crowdfunding Litigation Market
    • Technical Data and Manufacturing Plants Analysis of Crowdfunding Litigation Market
    • Global Crowdfunding Litigation Market Overview
    • Crowdfunding Litigation Market Regional Market Analysis
    • Global (2019-2026) Crowdfunding Litigation Market Segment Market Analysis (by Type)
    • Global (2019-2026) Crowdfunding Litigation Market Segment Market Analysis (by Application)
    • Major Manufacturers Analysis of Crowdfunding Litigation Market
    • Development Trend of Analysis of Crowdfunding Litigation Market
    • Consumers Analysis of Crowdfunding Litigation Market
    • Conclusion of the Global Crowdfunding Litigation Market Professional Survey Report 2019
Full Report Description @ bit.ly/2K3XzLb
Company about: Reports And Markets are part of the Algoro Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Are you mastering your market? Do you know what the market potential is for your product, who the market players are and what the growth forecast is? We offer standard global, regional or country specific market research studies for almost every market you can imagine ...
 
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Enforcement in the UK is a Growing Problem

With no automatic enforcement mechanism in place and only 60% of awards under £10,000 being fully enforced, the UK is experiencing a crisis of enforcement. Given that litigation funders must take collection risk into account when proposing an investment thesis, it's worth examining the current enforcement climate in the UK in greater detail. As reported in The Law Gazette, if the defendant fails to pay a court order, the claimant must return to the court and file additional forms (which carry additional fees) merely to enforce the judgment. In small-claims cases, this becomes so burdensome that the aforementioned 60% of awards are never claimed. One solution bandied about is the digitization of the enforcement process. In fact, HMCTS’s £1bn courts and tribunals reform program is set to do just that. The only catch? The program isn't due to come online until 2023. In the meantime, Lord Justice Briggs - who called the issue of enforcement the 'Achilles heel' of the court system in his 2016 civil court review - has appealed for a broader approach to centralizing the process, including the launch of an Online Court to resolve disputes up to £25,000. Unfortunately, given the inherent complexities of enforcement, not many are holding their breath. In higher-value cases - especially cross-border disputes - forms and filing fees are the least of a party's concerns. Take the ongoing saga of Russian oligarch Farkhad Akhmedov's ex-wife Tatiana, who partnered with Burford Capital to enforce a £453 million divorce settlement. Part of the settlement includes impounding Akhmedov's super-yacht, the M.V. Luna, which was slated for collection until a Dubai court overruled the UK High Court's decision to impound. All of this, and we haven't even touched on Brexit, which will surely throw a monkey wrench into the enforcement mechanism of UK courts. Until some form of harmonization takes place, funders will have to account for the added risk of enforcement.

China Lending Forges Partnerships to Accelerate the Development of Its Consumer Financing Business and Expand into Litigation Guarantee Business

BEIJING, URUMQI, China and HANGZHOU, ChinaJuly 29, 2019 /PRNewswire/ -- China Lending Corporation ("China Lending" or the "Company") (NASDAQ: CLDC), a non-bank financial corporation servicing micro, small and medium sized enterprises in China, today announced that it has entered into a five-year strategic partnership with Zhong Lian Jin An Insurance Brokers Co., Ltd. ("ZLJA"), a leading insurance brokerage company in China with over 90 branches across the nation. The partnership will enable both companies to further expand each other's customer bases and to develop superior, customized consumer financing and insurance products by leveraging their industry expertise, service capabilities, and industry networks. China Lending will utilize its market resources to help ZLJA to effectively expand and manage its insurance customer base and sales channels. In return, ZLJA will leverage its existing customer base to identify potential sales leads for the Company's consumer financing services. The Company also facilitated a tripartite cooperation agreement between ZLJA, Urumqi Haoyi Yuntian Information Technology Co., Ltd. ("Haoyi Yuntian"), a business partner of China Lending, and Gongdao Network Technology Co., Ltd. ("Gongdao") which is focused on developing online litigation solutions. Pursuant to the cooperation agreement, ZLJA will acquire customers seeking litigation guarantee insurance products from Gongdao's online litigation portal and serve as the exclusive insurance broker for such customers in the Xinjiang Uyghur Autonomous Region, and Haoyi Yuntian will provide intellectual property support for the litigation guarantee insurance business. China Lending expects to benefit economically from the transactions by virtue of its partnerships with ZLJA and Haoyi Yuntian. Ms. Jingping Li, co-founder and chief executive officer of China Lending, commented, "We believe that our partnerships with both ZLJA and Gongdao will facilitate our expansion into the insurance business in the Xinjiang Uyghur Autonomous Region. We expect that such expansion will enable us to expand our customer base, diversify our revenue streams, and explore additional monetization opportunities. Our partnerships with industry leaders such as ZLJA and Gongdao are representative of our ongoing efforts to expand into new business verticals while enhancing the quality of our product offerings. Going forward, we will continue to focus on cultivating synergies with our partners. We will also continue to explore new business opportunities with our partners to expand our customer bases and increase our market share while promoting the mutual development of our businesses." About China Lending Corporation  Founded in 2009, China Lending is a non-bank financial corporation and provides comprehensive financial services to micro, small and medium sized enterprises, and individuals. China Lending has headquarters in Urumqi, the capital of Xinjiang Autonomous Region, and Hangzhou, the capital of Zhejiang province. For more information, please visit: www.chinalending.com. Safe Harbor Statement  This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed partnership, and can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Such statements are based upon management's current expectations of the consummation of the proposed partnership, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. IR Contact: 
At the Company:
Katrina Wu
Email: wuxiaoqing@chinalending.com 
Phone: +86-991-316-9617 Investor Relations:
Jack Wang
ICR Inc.
Email: ICR-TMT@icrinc.com 
Phone: +1 646-224-6936 SOURCE China Lending Corporation

Related Links

http://www.chinalending.com
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Collective Action Led by Scott+Scott Europe LLP Launched in the UK Against Major Banks for Foreign Exchange Market Manipulation

London – 29 July, 2019 – A collective action under the Consumer Rights Act 2015 was filed today in the UK’s Competition Appeal Tribunal (CAT) by Scott+Scott Europe LLP against five banks who unlawfully manipulated the foreign exchange (FX) market between 2007 and 2013. The representative of the claimant group, Michael O’Higgins, has filed against Barclays plc, Citibank, Royal Bank of Scotland plc, JPMorgan and UBS on behalf of affected entities, including pension funds, asset managers, hedge funds and corporates. This collective action is being funded by Therium Capital Management, a leading global litigation funder. This legal action follows the European Commission’s (EC) ruling on 16 May 2019 that the above banks had violated EU competition law. The five banks have now been fined more than $8.5bn collectively by eleven regulators globally. The EC held that the banks had exchanged commercially sensitive information and trading plans, coordinating their trading strategies via two cartels. The claim is being brought through the CAT as a collective action on an opt out basis so that all eligible affected entities will benefit from any damages awarded without incurring the prohibitive and duplicative costs of bringing individual claims and without the class having to pay legal fees and costs from any recovery. Michael O’Higgins, director of Michael O’Higgins FX Class Representative Limited, the company set up to bring this claim, is the former Chairman of the Pensions Regulator. He is currently Chairman of the Local Pensions Partnership and of the Channel Island Competition and Regulatory Authorities. “The fines imposed on the banks by the European Commission were an important first step, but they will not compensate those who were damaged or suffered losses. Just as compensation has been won in the US, our legal action in the UK will seek to return hundreds of millions of pounds to pension funds and other corporates who were targeted by the cartel,” said O’Higgins. O’Higgins has instructed Scott+Scott Europe LLP, a specialist dispute resolution firm whose solicitors have extensive expertise in competition litigation. Its US affiliate, Scott+Scott Attorneys at Law LLP, originated and led a class action in the United States against fifteen banks for manipulating the FX market, obtaining over $2.3bn in settlements for which final approval was granted on 6 August 2018.  The Class Representative has also instructed a highly experienced barrister team from Brick Court Chambers led by Daniel Jowell QC. “The FX class action in the US led to widespread relief,” said David R. Scott, Managing Partner of Scott+Scott. “Our experience with this litigation gives us a tremendous advantage in pursuing this case on behalf of victims in the UK and abroad so that they also receive fair and equitable compensation.  Michael O’Higgins’ experience in the pensions industry, which the banks specifically targeted, make him ideally placed to run this claim on behalf of this class.” Who is Eligible? If your business is UK domiciled, and has entered into relevant FX transactions, it is automatically included within the class. If your business has entered into relevant FX transactions but is not UK domiciled (and is not US, Canadian or Australian domiciled), you can formally opt in via www.UKFXcartelclaim.com as soon as the claim is certified. Will there be any costs for class members? Class members will not pay costs or fees to participate in this legal action. The legal action is being funded by Therium Capital Management, a leading global third-party litigation funder, which has funded a large number of high-profile group legal actions in the UK and abroad. In addition to this, Michael O’Higgins FX Class Representative Limited has taken out after-the-event insurance to cover the defendants’ costs in the event that the claim is unsuccessful. For additional information or to register interest please visit the collective action website: www.UKFXcartelclaim.com About Scott+Scott Attorneys at Law LLP Scott+Scott has significant experience prosecuting antitrust, arbitration and securities cases throughout the United States and Europe.  The firm represents corporations, pension funds, foundations, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.  For more information, visit www.scott-scott.com or call +1.800.404.7770 1)         Michael O’Higgins is the current Chairman of the Local Pensions Partnership, of the Channel Islands Competition and Regulatory Authorities.  He has previously been Chairman of the Pensions Regulator, Chairman of the NHS Confederation, Chairman of the Audit Commission, Non-Executive Director and Chair of the Audit Committee for Her Majesty’s Treasury, Chairman of Centrepoint, Managing Partner of PA Consulting, a partner at Price Waterhouse (now PwC) and an academic at various universities including the University of Bath, the London School of Economics, the Australian National University, and Harvard University. 2)         Michael O’Higgins FX Class Representative Limited is the legal entity that has filed a collective action with the UK Competition Appeal Tribunal (CAT) under the Consumer Rights Act 2015.  Michael O’Higgins is the sole director and sole member of the company which is incorporated in England & Wales. 3)         Scott+Scott Attorneys at Law LLP was lead counsel in the US class action first filed in 2013, relating to manipulation of the FX market. The firm secured a USD2.3bn settlement from 15 banks involved, which include HSBC, Barclays, RBS, UBS, BNP Paribas and Deutsche Bank. The firm considered the UK case on an individual basis but counseled its clients to go with a collective action as there will be no fees taken from their potential recovery. 4)         The UK Consumer Rights Act was passed in March 2015 and introduced the possibility of mounting ‘opt-out’ collective actions in breaches of competition law. The Act enables groups that have been wronged in a similar way to recover losses without any risk or expense. All affected UK entities are included in the claim under the ‘opt-out’ system and are therefore able to claim from the aggregate pool of damages. 5)         Therium Capital Management is a leading global provider of litigation, arbitration and specialty legal finance active in England and Wales and internationally since 2009.  Over that period, Therium has funded claims with a total value exceeding $36 billion, including many of the largest and most high-profile funded cases in the UK.  The firm has investment teams in the UK, USA, Australia, Spain, Germany and Oslo, supplementing its resources in its corporate headquarters in Jersey, Channel Islands.  Therium is a founder member of the Association of Litigation Funders of England and Wales.  www.therium.com
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Proskauer Director Joins Augusta as Chief Operating Officer

Augusta, the UK’s largest litigation and dispute funding institution by case volume - with a team of 70 in London - today announces the appointment of Polly Bahl as Chief Operating Officer, based in London. Polly joins from US law firm Proskauer Rose where, as London Director of Professional and Administrative Resources, she coordinated a range of operational functions. A solicitor by training, Polly qualified with SJ Berwin (now King & Wood Mallesons) where she became a partner specialising in private investment funds, a role which latterly incorporated various operational responsibilities.

Polly’s hiring is the latest addition to Augusta’s senior team following the recent arrivals of Gowling WLG Partner James Foster as Head of International Arbitration and FTI Consulting Managing Director Leor Franks as Chief Marketing Officer. These additions reflect Augusta’s ongoing growth and increasing client demand for dispute and litigation funding. Commenting on the appointment, Louis Young, Managing Director at Augusta, said: “We’re delighted to welcome Polly to Augusta. We’ve been looking to fill this role for some time, and with her wide experience of corporate functions including Risk, IT, HR and Finance and her legal background, Polly will play a key role in this important phase of our growth”. Polly Bahl commented: “I’m really pleased to be part of the continued expansion of Augusta’s operations given the exciting opportunities for further development in the UK and internationally. I’m very much looking forward to working with Augusta's capable team and to help further develop a leading player in litigation and dispute funding”.

About Augusta Ventures:

- Established in 2013, Augusta is the largest litigation and dispute funding institution in the UK by # cases with a team of 70 in London and 85 worldwide. Augusta’s scale enables us to make decisions in market-leading timeframes and fund cases of any size. - Augusta is organised into a series of specialist practice groups: Arbitration, Class Action, Competition, Consumer, Intellectual Property and Litigation, and sectors including Financial Services and Construction & Energy. - By the end of H12019, Augusta had funded 213 claims with a market-leading win ratio of over 80%. - Augusta recently announced £25m funding deals with international law firm Pinsent Masons and leading litigation law firm HFW.

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MENA’s Pre-Eminent Financial Restructuring Summit Returns to Dubai This September

Dubai: Middle East Global Advisors, a leading financial intelligence platform spearheading the development of knowledge-based economies in the MENASEA markets, will convene The 2nd Annual Corporate Restructuring Summit (CRS 2019) - the MENA region’s pre-eminent Debt Restructuring and NPL-focused Summit, in strategic partnership with Abu Dhabi Global Market (ADGM) on September 11-12 at the Address Dubai Mall in Dubai, UAE. Addressing the theme of “Emergence of New Alliances: Managing Debt & Non-Performing Loans”, the summit’s vision is to facilitate an enabling environment to address the key challenges associated with financial restructuring of corporate debts, effective management of non-performing assets and enabling capital adequacy and profitability through exploring mergers & acquisitions. As a strategic partner of the Summit, Steve Barnett, Executive Director, Business Development, Abu Dhabi Global Market said, “In today’s complex and increasingly volatile marketplace, companies need a stable and conducive environment to grow their businesses. As an innovative and progressive International Financial Centre, ADGM provides a holistic suite of business and licensing solutions, a robust regulatory platform and world-class legislation for entities and corporates to operate efficiently, restructure their business effectively and achieve their ambition in Abu Dhabi, the Middle East and beyond. We look forward to meeting the banks, corporates, funds and restructuring specialists to discuss and exchange insights of current challenges of restructuring and strategic reorganisation of finance and debt-related matters." Following the oil price slump in 2014, numerous industry sectors – predominantly oil & gas, real estate and construction experienced substantial liquidity shortage, leaving corporates heavily invested in these sectors and reliant on Government spending with diminishing profits and an inability to service existing debt exposures and project finances, spiking up the region’s NPL portfolios. In consequence, corporate workouts and financial restructuring have become the norm to aid organizations with troubled balance sheets to combat debt delinquencies and defaults. The recent wave of restructuring reforms in the GCC with UAE issuing the Bankruptcy Law in 2016 - the first of its kind in the region and one at par with international insolvency standards - aims at modernising the existing regime to offer debtors greater opportunities for reorganisation, provide simplified liquidation process, ensure fair treatment of creditors, all of which will boost investor confidence enabling FDIs into the region. Economic stability continues to be a high-priority for the UAE with His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minster of the UAE and Ruler of Dubai, enacting a new DIFC Insolvency Law that will come into effect in August 2019 as it aims at balancing the needs of all stakeholders in the context of distressed and bankruptcy related situations in DIFC. Adding to the ongoing wave of regulatory reforms in GCC’s financial sector, Saudi Arabia and Bahrain introduced their respective bankruptcy laws in 2018, encouraging corporate reorganisation over liquidation. In Saudi Arabia, with the National Transformation Programme 2020 and Vision 2030 setting the stage for major transformation with the aim of optimizing the Kingdom’s business & investment climate, the Bankruptcy Law was introduced as part of Saudi Arabia’s regulatory reforms with the aim of further strengthening the Kingdom’s business environment. To broaden the perspective on Saudi Arabia’s transformation drive, the summit will see an Opening Keynote address by Dr. Fahad Alshathri, Deputy Governor – Supervision, Saudi Arabian Monetary Authority (SAMA) assessing the state of the credit market and measuring the impact of corporate debt on the global and regional economy. The summit will also play host to Mr. Majed Al-Rasheed, Secretary General, Bankruptcy Commission as he shares insights in the Regulators’ Panel focusing on Driving economic growth via FDIs, M&As and minimizing bad debt portfolios. Among the first organizations to avail and benefit from the Saudi Bankruptcy Law, was Ahmad Hamad Algosaibi & Brothers (AHAB), in their bid to achieve successful financial restructuring involving 100+ creditors, following a 10-year long settlement process. Speaking ahead of the Exclusive CEO’s panel, Simon Charlton, Chief Restructuring Officer & Acting Chief Executive Officer, Ahmad Hamad Algosaibi & Brothers said, “The process of social and economic reform in Saudi Arabia under the guidance of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz continues with pace. One of the more significant economic/business developments in the past twelve months has been the enactment of the new Bankruptcy law. Since the beginning of 2019 we have seen the first uses of the New Saudi Arabian Bankruptcy Law; debtors and creditors are availing themselves of the tools and protections of this new law. There are a number of very high profile cases currently before the courts and this is a serious and robust test of this new law and there is significant interest in Saudi Arabia and internationally as to how effective the new procedures for protective settlement, financial restructuring and liquidation will be and how the courts and the various professionals involved particularly Bankruptcy trustees will perform.” Speaking ahead of the regulators panel, Adnan Ahmed Yousif, Chairman, Bahrain Association & Banks and President & Chief Executive, Al Baraka Banking Group expressed, “In the wake of several countries that have had the misfortune of succumbing to the aftermath of a financial crisis, difficulties faced by financial institutions and corporates, and resulted accumulation of NPLs, the 2nd Annual Corporate Restructuring Summit gains substantial importance for both financial institutions and regulators and other governmental bodies. I am honored to be part of an esteemed panel and look forward to discuss Bahrain’s efforts in fostering a supportive environment for businesses in varying stages of its lifecycle, a strong factor that will attract FDIs into the region. In addition, I would like to discuss the different strategies adopted by Bahraini Banks to combat the challenge of NPLs, asset quality and capital adequacy.” If the challenge of rising non-performing assets is not addressed, it can cripple banks’ cash flows and lending abilities, with serious negative consequences reflected throughout the economy. As banks look for ways to clean their balance sheet and dispose non-core assets, they drive opportunities for mergers and acquisitions (M&As) and establishment of distressed loan sale market for potential buyers and sellers. Speaking ahead of the panel on Managing NPL portfolios & driving down regional average, Manoj Chawla, Group Chief Risk Officer, Emirates NBD said, “As the MENA market becomes more sophisticated with respect to debt restructurings there are new and innovative solutions to address the NPL portfolio of local lenders. We are increasingly seeing local lenders explore portfolio-based solutions, debt for equity swaps, secondary market sales and litigation financing as means to address their ever growing NPL books. The local banks are now also better equipped than earlier to deal with distressed situations with experienced work out teams and more advanced risk management procedures. Lenders are also identifying issues early and seeking to work with their customers to address problems in an objective manner.” Key Industry Veterans from leading banks and corporates will headline The Corporate Restructuring Summit 2019 as it aims to spearhead discussions gravitating around the three high-stake areas of effective NPL management, debt restructuring and Mergers & Acquisitions.The confirmed industry leaders at the summit include: Dr. Fahad Alshathri, Deputy Governor - Supervision, Saudi Arabian Monetary Authority (SAMA); Tareq A. Al-Sadhan, Chief Executive Officer, Riyad Bank; Richard Hinchley, Chief Risk Officer, The Saudi British Bank (SABB); Mike Grant, Chief Restructuring Officer, Drake & Scull; David McDiarmid, Partner, Resolute Asset Management; Bruno Navarro, Senior Adviser, Rothschild, Managing Director, IPSO FACTO; Richard Clarke, Senior Vice President – Business Development and Mergers & Acquisitions, GEMS Education; Mohammed Riaz, Head of Financial Restructuring Department, Kuwait Finance House Bahrain; Esteban Buljevich, Head of Special Assets & Restructuring Department, Abu Dhabi Commercial Bank; Naveed Kamal, Corporate Bank Head Middle East & North Africa (MENA), Citi; Amine Antari, Managing Director, Kroll & Sassan Hatam, Partner, Roland Berger, among others. Key Features at CRS 2019 include: Keynote Addresses on bolstering economic growth in the MENA by fostering a conducive environment for doing business & transaction forecasts for MENA 2021; Exclusive CEO’s Panel analyzing some of MENA’s biggest workouts; Regulators Panel on driving economic growth via FDIs, M&As and minimizing bad debt portfoliosKey Panels focused on mergers, acquisitions and divestiture, distressed investing and NPL servicing platforms, managing NPL portfolios and driving down regional average & more. Partners at CRS 2019 include Resolute Asset Management, Eyad Reda Law Firm, Roland Berger, Kroll & Omni Bridgeway. The summit’s Bankruptcy Regulatory Partner is Bankruptcy Commission, Association Partner is Saudi Banks while CNBC Arabia is the Official Broadcast Partner. The summit is expected to draw participation from over 300 prominent banks, corporates, legal-advisory firms, hedge funds, investment banks and debt restructuring specialists from across the MENA onto one platform by spearheading actionable debate, impactful change and high-level outcomes. To find out more about CRS 2019, please visit: www.crs19.com Join the global conversation on Twitter at: @CorpRS #CorpRestructure19 ABOUT THE CORPORATE RESTRUCTURING SUMMIT (CRS) The Corporate Restructuring Summit is an initiative of Middle East Global Advisors, the first of its kind that aims to explore innovative approaches to corporate debt restructuring and NPL management in context of the complex market dynamics in the Middle East North Africa (MENA) region. The summit will gather banks, corporates, legal-advisory firms and debt restructuring specialists from across the MENA onto one platform by spearheading actionable debate, impactful change and high-level outcomes. To find out more, visit www.crs19.com  or follow us on Twitter @CorpRS ABOUT MIDDLE EAST GLOBAL ADVISORS (MEGA) Connecting markets with intelligent insights & strategic execution since 1993 Middle East Global Advisors (MEGA) is the leading gateway connectivity and intelligence platform to Islamic finance opportunities in the rapidly developing economic region that stretches all the way from Morocco in the West to Indonesia in the East- The Middle East North Africa Southeast Asia (MENASEA) connection. For 26 years, our exclusive focus on achieving business results for the Islamic finance industry has enabled us to create significant value for the leading players in the Islamic banking, finance and investment markets. Visit us at www.meglobaladvisors.com  or follow us on Twitter @meglobaladvisor Aanchal Dhawan Marketing Manager Middle East Global Advisors Tel: +971 4 441 4946 Email: aanchal@meglobaladvisors.com
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Law Firm Financing in the Wake of the NYC Bar Opinion

Last year, the New York City Bar Association issued an advisory opinion suggesting that funding agreements between lawyers and third party funders violates ABA Model Rule 5.4(a), which prohibits fee sharing with non-lawyers. The opinion has sparked furious debate (and much consternation) in the litigation funding community ever since. But practically speaking, how has the NYC Bar's opinion impacted law firm funding? As reported in Above the Law, the Bar's opinion - although strictly advisory in nature - has the potential to sway law firms on the issue of whether or not to seek funding, given such a strict interpretation of Rule 5.4(a). The key issue at the heart of Rule 5.4(a) is the independence of the lawyer when accepting outside funding. To that end, recourse funding has never been prohibited, given that it is widely understood most businesses need recourse funding (loans) in order to expand. Yet it can be argued that non-recourse funding (i.e. third party funding) may restrict a lawyer's independence, given that repayment is contingent on the outcome of the case, which incentivizes the funder to intervene in case strategy. Of course, the funding community counters that its funding agreements render them passive investors, and that the terms therein stipulate that they will not exert control over case strategy. Yet suspicions to the contrary persist. And clearly the NYC Bar wanted to make a statement that in terms of ethical concerns, non-recourse funding is to be treated differently from recourse funding. Although many in the funding community are crying foul over that logic. Although the NYC Bar has no intention of revisiting its opinion, it has established a Litigation Funding Working Group to examine an ethical framework for third party funding. The Working Group's findings are due to be released later this year.

Should Litigation Funders Worry About Kirkland’s Push into Contingency-Fee Litigation?

Recently, law firm Kirkland & Ellis announced a ten-fold increase in investment dollars towards contingency-fee plaintiff-side claims. Alternative fee arrangements have been the most profitable component of the law firm thus far, so management figures 'why not roll the dice' on what's already been working? The question now is: is Kirkland's approach a harbinger of things to come? And if so, how will this impact litigation funders down the road? As reported in Big Law Business, litigation funders have long provided a platform for traditionally risk averse law firms to expose themselves to more risk. While this has turned funding into an extremely profitable industry, it has also created a bit of a double-edged sword. After all, if big law firms like Kirkland start taking on more risk, what do they need litigation funders for? Longford Capital co-founder Michael Nicolas notes this concern, but insists we're not anywhere near a tipping point at the moment. He points out that Kirkland made headlines with its announcement precisely because its decision is so unique. If other big law firms were doing what Kirkland is doing, no one would have batted an eye. The argument essentially is that Big Law is slow to change, and there are still major gaps in the market; namely, the skyrocketing cost of lawsuits which restricts access to justice. As long as those gaps exist, funders have a place at the table. Of course, as Nicolas further notes, in a fully-efficient market, Big Law would actually be competing with litigation funders. They have the money and manpower to adopt the added risk of contingency-fee claims, as Kirkland is now doing. Which means that by exposing Big Law to outsized risk (and the outsized returns that come with it), litigation funders may in fact be breeding their eventual competitors.

Legal-Bay Pre Settlement Funding Preparing For Numerous Bayer Lawsuits

JERSEY CITY, N.J.July 22, 2019 /PRNewswire/ -- Legal-Bay LLC, The Pre Settlement Funding Company, announced today that they have recently seen an increase in Essure birth control lawsuits, and are preparing for numerous presettlement payouts in the coming months.

The Essure brand birth control device is put out by Bayer, who is accused of knowingly distributing a faulty product. More than 17,000 plaintiffs have claimed serious pain and suffering from broken devices including device migration and perforated organs. Bayer continues to deny any wrongdoing and stands by the safety of its product, with all intentions of defending itself against the many lawsuits already filed, and the many more sure to come.

In spite of past dismissals, CaliforniaIllinois, and Pennsylvania courts are currently selecting bellwether trial cases and setting court dates. The largest number of pending cases is in California, and their courts have compiled the largest collection of documents and information regarding the Essure devices. California and Pennsylvania are looking to try their cases sometime in 2019, while Illinois courts have already set a trial date, albeit not until 2020.

Chris Janish, CEO of Legal-Bay commented, "Legal-Bay has seen an increase in the filings for Bayer's Essure device. While there are no settlements or jury verdicts in these lawsuits, we nevertheless remain committed to assisting plaintiffs with their presettlement cash advance needs."

If you are involved in an Essure birth control lawsuit and are looking for presettlement cash now, you can fill out an application at: http://lawsuitssettlementfunding.com

Legal-Bay is a leading personal injury pre-settlement advocate, and works directly with many of the top mass tort law firms to provide the best pre-settlement cash advance rates in the industry in as little as 24 – 48 hours. If you do not have an attorney, Legal-Bay can assist you with retaining a top lawyer or law firm that specializes in Essure cases.

All of Legal-Bay funding programs are risk-free as you only repay the advance if your case is successful. The non-recourse advance is not a lawsuit loan, lawsuit loans, pre settlement loan, or pre-settlement loans.

Please apply online at:  http://lawsuitssettlementfunding.com or call the company's toll free hotline at: 877.571.0405 where agents are standing by.

Source:  Legal-Bay LLC

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How Dividex Packaged a Pair of Danish Class Actions for Litigation Funding

Dividex, the international securities class action broker and case manager, wanted in on a Novo Nordisk class action after the stock shed over $50B in the wake of fraud allegations. The only problem? No litigation funders would bite, given that the Danish Pharma company would have to face the scales of justice on its home turf (international securities actions can no longer be tried in the U.S., pursuant to a 2010 Supreme Court decision). And since funding is needed to get an international securities action off the ground, the deal was dead in the water. Until, that is, Dividex packaged the deal into its own version of a portfolio funding arrangement. As reported in Institutional Investor, Dividex is run by Irwin Schwartz, an attorney who founded law firm BLA Schwartz. Schwartz formed Dividex in 2013 after recognizing a gap in the market - international securities actions cost money to get moving, and funders don't typically have the time or means to source deals themselves (sourcing requires investigating precipitous stock drops and tying those to corporate malfeasance). Hence, Dividex acts a broker and case manager. Schwartz wanted the Novo Nordisk deal, so he bundled it with another high profile Danish securities claim - the Danske bank case (the banks was accused of facilitating Russian money laundering). Schwartz wrangled two of the nation's largest pensions - CalSTRS and the Teacher Retirement System of Texas into the portfolio funding deal. He also secured funding from IMF Bentham, which agreed to accept a fee structure based on the losses of all institutions who participate in the deal (as opposed to a straight back-end percentage or investment multiple). This is the first known case of U.S. institutions grouping together to partner with funders on an international case. Now that Schwartz has broken the mold, expect more examples to follow suit.

Legal-Bay Pre Settlement Funding Focusing On IVC Filter Cases

JERSEY CITY, N.J.July 17, 2019 /PRNewswire/ -- Legal-Bay LLC, The Pre Settlement Funding Company, announced today that they continue to see a large volume of IVC filter patients needing cash advances. Top IVC filter manufacturers have recently lost bellwether trials, and Legal-Bay believes this could signal a shift toward settling pending cases within the upcoming months. IVC filters are devices which inhibit blood clots in patients, preventing pulmonary embolisms. 80% of the filters sold are put out by C.R. Bard and Cook, and juries in recent litigation are finding that many of these devices are proving defectivePlaintiffs claim they are dealing with perforations, shifting after implantation, filter fractures, and general ineffectiveness. Cook specifically has already lost a major trial when an Indianapolis jury awarded $3 million to a woman who suffered a cardiac injury from her faulty IVC filter. And with mass tort filings in FloridaPennsylvania, and California state courts, many more bellwether trials are slated to occur. *As of June 2019, there have been over 9,000 IVC cases filed nationwide.  Chris Janish, CEO of Legal-Bay, commented, "We are seeing a lot of applications regarding IVC plaintiffs needing lawsuit cash as trials with Bard and Cook loom closer. To date, no settlements have occurred and there are no assurances that Bard or Cook will settle their claims or for what values. Regardless, we continue to aid plaintiffs who've suffered injuries from these devices." If you are involved in an IVC lawsuit and are looking for a pre-settlement cash advance now before your case settles, you can fill out an application form at the company's website: http://lawsuitssettlementfunding.com Legal-Bay is a leading personal injury pre-settlement advocate, and works directly with many of the top mass tort law firms to provide the best pre-settlement cash advance rates in the industry in as little as 24-48 hours.  They urge people who have not yet contacted a lawyer to reach out now; Legal-Bay can assist you with retaining a top IVC lawyer or law firm that works with clients who need funding. All of Legal-Bay's funding programs are risk-free as you only repay the advance if your case is successful. Please apply online at: http://lawsuitssettlementfunding.com or call: 877.571.0405
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Canadian Innovator JL Energy Transportation Inc. Successfully Defends Patent Challenge From Major Canada/US Pipeline and Gas Processing Companies

CALGARYJuly 17, 2019 /CNW/ - JL Energy Transportation Inc. ("JETI", more: www.jlenergy.com) announces that it has successfully defended a Federal Court challenge to its gas transportation patent, with the Court confirming the validity of its key patent terms. This endorsement clears the way for JETI's continuation of its license and patent infringement claims against an alliance of major Canadian and US pipeline and gas processing companies. The defendant companies currently include: Alliance Pipeline Limited Partnership, Alliance Pipeline Ltd., Alliance Pipeline L.P., Alliance Pipeline Inc., (collectively, "Alliance"), Aux Sable Liquid Products LP (formerly known as Alliance Pipeline NGL, LP) and Aux Sable Liquid Products Inc. (formerly known as Alliance Pipeline NGL Inc.)(together, "Aux Sable").  As previously announced on March 6, 2019, JETI is claiming significant damages as a result of Alliance's and Aux Sable's alleged infringements of JETI's licences and intellectual property rights. Background In the early 1990s a team led by John Lagadin, the founder of JETI, invented a novel and innovative method for more efficiently and cost-effectively transporting enriched natural gas via a single pipeline carrying both natural gas and natural gas liquids ("NGLs") from the Western Canadian Sedimentary Basin to the lucrative US mid-western natural gas and NGL market. It was a ground-breaking invention that caught the eye of 22 producers, including some of North America's largest energy companies. These companies subsequently formed the "Alliance Pipeline" which went into service December 1, 2000. JETI licensed the technology (subsequently patented in a number of jurisdictions around the world) to the Alliance and Aux Sable companies, who between 1996 and 2000 planned and constructed a 3,848 km pipeline from BC and Alberta to Chicago as part of an integrated energy system to export Western Canadian enriched natural gas to be processed at the US market hub in a world class processing facility.  The Alliance Pipeline was one of the most significant infrastructure projects in North America at the time. It has since delivered an average of 1.6 billion cubic feet of enriched gas every day to the Chicago market (more than 1/5th of Canada's natural gas exports). This major success story of Canadian innovation, built on the entrepreneurialism of the JETI team, has provided Canada access to a valuable export market and contributed billions of dollars to Canada's GDP and Alberta's royalty revenues. Proceedings JETI alleges in Alberta Court of Queen's Bench Court File No. 1601-06322 that Alliance and Aux Sablehave in recent years used its proprietary and patented technology to transport and process rich natural gas on additional pipelines in British Columbia, Alberta and North Dakota without licence or authorization. Aux Sable subsequently challenged of one of JETI's patents in Federal Court File No. T-1612-16. The Federal Court invalidated claims 9 and 10, but decided that all of claims 1 through 8 of the patent are valid, being the key elements of the technology upon which the Alliance / Aux Sablesystem is built and continues to operate. As previously announced, Bentham IMF Capital Limited ("Bentham"), the Canadian arm of leading global litigation funder IMF Bentham (ASX:IMF) is funding JETI's actions against Alliance and Aux Sable. JETI is represented by MLT Aikins LLP. John Lagadin, President of JETI, said: "We are very pleased to have the Federal Court validate the key claims in our patent. This endorsement allows us to continue our already lengthy quest for justice, and we look forward to a successful outcome once the courts have been presented with the facts in the caseWe remain appreciative to have Bentham on board to successfully defend our patent and fund our continuing actions as their significant due diligence, capital at risk, and proven track record, validates our confidence in our long standing claims." About the Defendants The Alliance Pipeline system consists of an approximately 3,848-kilometre (2,391-mile) integrated Canadian and US natural gas transmission pipeline system, delivering rich natural gas from the Western Canadian Sedimentary Basin and the Williston Basin to the Chicago market hub. The Alliance system delivers, on average, about 45.3 million standard cubic metres (or 1.6 billion standard cubic feet) of natural gas per day. More: www.alliancepipeline.com. Alliance Pipeline Limited Partnership (Alliance Canada) owns the Canadian portion of the Alliance Pipeline system. Alliance Pipeline L.P. (Alliance U.S.A.) owns the U.S. portion of the Alliance Pipeline system. Alliance is represented by Rose LLP. Aux Sable commenced operation as part of the Alliance Pipeline and Aux Sable dense phase gas system. At that time, two companies were established, one in the United States, and one in Canada, to manage the natural gas liquids business associated with the Alliance Pipeline. In 2010, a second U.S. company, Aux Sable Midstream (ASM) was established to focus on other midstream developments in the United StatesAux Sable owns and operates a world-scale natural gas liquids extraction and fractionation facility in Illinois near the terminus of the Alliance Pipeline. The facility is currently capable of processing 2.1 billion cubic feet per day of natural gas and can produce approximately 107,000 barrels per day of specification natural gas liquid products. Aux Sable's rich gas premiums provide market access to rich gas producers in Canada and the U.S. that cannot be realized through conventional field extraction and local NGL sales. Aux Sable is represented by McCarthy Tetrault LLP. About Bentham IMF Bentham IMF Capital Limited is the Canadian arm of IMF Bentham Limited (ASX: IMF), one of the leading global litigation & dispute financiers, headquartered in Australia and with offices in Canada, the US, SingaporeHong Kong and London. IMF has built its reputation as a trusted provider of innovative litigation funding solutions and has established an increasingly diverse portfolio of litigation & dispute financing assets. IMF has been a leading pioneer of litigation financing in Australia since 2001, playing a significant role in the initial steps towards a globalized industry via its international expansion in Canada, the US, Asia and Europe.  IMF has a highly experienced litigation funding team overseeing its investments delivering a 90% success rate across 179 completed cases (at 30 September 2018). More: www.benthamimf.ca. SOURCE JL Energy Transportation Inc.
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The Perils of Crowdfunding Litigation

GoFundMe recently cancelled an Australian rugby player's crowdfunded legal campaign, and the story made international headlines. Now some experts are scrutinizing the ethical and practical concerns of crowdfunding litigation; some of which will sound very familiar to litigation funders, yet others are unique to the crowdfunding niche. According to the Australasian Lawyer, the underlying case involves ex-rugby player Israel Folau, who was fired from Rugby Australia in May after making anti-LGBT remarks. Folau turned to crowdfunding website GoFundMe to fund his legal campaign, only to have the site cancel his campaign on the grounds that his remarks violate their anti-discrimination policies. The case has made both national and international headlines, and has brought crowdfunding legal campaigns into the public spotlight, and raised all sorts of ethical concerns. Chief among them are issues of disclosure and privilege - two subjects very familiar to litigation funders. But there are unique concerns relating to crowdfunding. For one, when crowdfunding a legal campaign, claimants do not know who they are accepting money from. This naturally poses ethical concerns as law firms receive payment from unknown parties (not an issue where litigation funding is concerned). Another concern is whether the crowdfunded campaign waives privilege. Privilege battles have been waged in regard to litigation funding, but funders are sophisticated entities who often consult and advise the claimant's legal team - crowdfunders are not. This creates a potential dilemma and could prompt discovery motions by defense on the grounds that privilege has been waived. The Law Council of Australia is exploring the issue of crowdfunding and considering a regulatory framework. Other jurisdictions may soon follow suit. Courts may also jump into the fray, taking crowdfunding into account when issuing security for costs, for example. Just like litigation funding, the growth of crowdfunding's popularity is spurring calls for greater regulation.

BroadRiver Welcomes Emma Dickson as General Counsel and Chief Compliance Officer

NEW YORK--(BUSINESS WIRE)-- BroadRiver Asset Management, L.P., a New York based manager of alternative assets announced today that Emma Dickson has joined the firm as General Counsel and Chief Compliance Officer and a key member of the firm’s management team.

“Legal excellence and outstanding compliance have been hallmarks of our firm since its inception,” said Philip Siller, Co-CEO of BroadRiver Asset Management. “Emma brings to BroadRiver years of diverse experience supervising investment funds and leading compliance teams, both in-house and at leading law firms. We look forward to working with her in building our offerings and providing exceptional service to our clients.”

Ms. Dickson was most recently Counsel to the Investment Funds Group at the Akin Gump office in London, UK. From 2014 to 2017, she was General Counsel at Criterion Capital Management, LLC, a San Francisco-based investment adviser. Prior to joining Criterion in 2014, she worked as an Attorney for Man Investments, focusing on fund launches, securities regulation issues, and general corporate counsel functions. Prior to joining Man in 2008, Ms. Dickson was an associate in the Investment Management Group at Schulte Roth & Zabel, LLP, where she handled a variety of legal issues related to alternative investment funds.

Ms. Dickson received a B.A. in History from Columbia University and a JD/MBA from Georgetown University Law Center & McDonough School of Business.

BroadRiver, which closed on its third longevity fund in September of 2018, seeks to provide clients with exposure to assets that have compelling risk-adjusted returns, low volatility, and negligible correlation to financial markets. BroadRiver’s highly selective approach to asset selection is underpinned by proprietary analytics and a deep commitment to research, resulting in carefully structured portfolios with strong, predictable cash flows.

Ms. Dickson’s focus will be to add her legal proficiency to the firm’s expertise in structuring and managing the firm’s new and existing funds in a range of non-correlated asset classes. The new strategies include exposure to litigation finance, global trade receivables, and other uncorrelated income assets. She will complement BroadRiver’s management team, positioning the firm to add to its $1.4 billion in assets under management.

About BroadRiver Asset Management

With assets under management of $1.4 billion, the firm focuses on alternative investment management strategies involving non-capital markets assets. It boasts one of the deepest and longest-tenured longevity-risk investment teams, having served institutional clients for almost twenty years.

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

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$4 Billion Therium-Funded Google Class Action Sees Light of Day in UK Court of Appeal

After being tossed out by the High Court, the $4 billion Therium-funded Google class action has reached the UK Court of Appeals. The lead applicant, Richard Lloyd - a former consumer rights organization director - is claiming Google owes 4.4 million Brits hundreds of pounds each for its nefarious 'Safari Workaround' software, which was allegedly used to spy on iPhone users. As reported in The Register, the claim covers all UK citizens who used Safari's browser on their iPhone between June 2011 and February 2012. During that time, the suit alleges, Google tricked Safari into installing a cookie on its browser that allowed the Tech giant to snoop on users as they browsed the internet. This is in direct violation of the Data Protection Act  of 1998. Google has already paid extremely modest fines (less than $50MM) to US regulators over the Safari Workaround scandal. But Lloyd and Therium are attempting to bring a US-style class action (technically a representative action, since the UK does not do class actions) which aims to secure billions of pounds for millions of UK citizens. Therium will collect up to 50% of any payout, and is allegedly paying Lloyd a salary of £50k for up to four years to act as frontman for the claim. A High Court ruling last year squashed the case before it had a chance to even get going. Now, in the Court of Appeal, Lloyd and Therium are hoping to jumpstart their multibillion-pound claim.

Domino’s Could Be on the Hook for AUD $100MM in Therium-Funded Class Action

Law firm Phi Finney McDonald and litigation funder Therium Capital Management are filing a class action which alleges that Domino's underpaid delivery drivers and in-store workers. Estimates put the total claim amount around AUD $100MM. As reported in Livewire Markets, the action is being brought on behalf of employees at Domino's franchises between June 2013 and January 2018. The suit to recapture the difference between the company's enterprise bargaining agreement (EBA) and the amount workers would have been compensated has no EBA been in effect. Domino's total savings under its EBA agreement is around $200MM, and it has been roughly estimated that half of its franchisees are covered under the claim - therefore the total claim amount has a rough estimate of AUD $100MM. So far, only 1,000 workers have signed up for the class action, which means any payout would be far less than the above amount. That said, Phi Finney and Therium are actively courting more claimants. Domino's insists its EBA was still valid through January of 2018, and therefore intends to vigorously defend itself in court. The company's EBA expired in June of 2013, yet no subsequent agreement was put into place. Therefore, the company will argue that its EBA remained in effect (even though it expired). Domino's stock took a brief hit on news of the action, but has quickly recovered.

Defrauded Investor Hires Ileana Ros-Lehtinen to Help Enforce $6 Billion Award Against a Member of Qatar’s Ruling Family

DOHA, QatarJuly 15, 2019 /PRNewswire/ -- The Swifthold Foundation, which was defrauded by Sheikh Fahad Bin Ahmad bin Mohamed Bin Thani and his Qatari company, Fast Trading Group, today announced that it has hired Akin Gump, the international law firm, to help advise and obtain finality through enforcement of the Qatari court's acknowledgment of the UK High Court judgment. The representation will be led by Ms. Ileana Ros-Lehtinen, Senior Advisor, Member of Congress (Ret) and former Chairwoman of the House Foreign Affairs Committee. Swifthold recently won a key decision that will allow enforcement of its UK High Court judgment in Qatar, according to Delta Capital Partners, the American litigation finance and support firm that the foundation has retained. On April 28, 2019, the Qatari Court issued a Writ of Execution allowing Swifthold to seek enforcement of the English court judgment against Sheikh Fahad Bin Ahmad bin Mohamed Bin Thani, a prominent member of the Qatari royal family, and Fast Trading Group. Ros-Lehtinen stated, "I have agreed to help obtain finality through enforcement of the Qatari court's acknowledgment of the UK High Court judgment. It is past time to right these wrongs. Qatar needs to see that this judgment is enforced in accordance with internationally accepted judicial standards and without further delay." Sheikh Fahad is a member of the Qatari royal family. He has defrauded a family foundation, now run by its founder's widow, and other global investors. The highest court in the UK, where until recently the Sheikh and his family have lived and drawn from its quality of life, has leveled a judgment of nearly $6 billion for the damages caused by his fraud. A spokesperson for Delta stated, "We are pleased to have Ms. Ros-Lehtinen on our team, given her experience advocating fair dealings in the Middle East." A spokesperson for the Swifthold Foundation commented, "We are hopeful that this expanded team, which won the judgment and now the writ of execution, will help prompt a timely resolution." The Qatari law firm that obtained the writ of execution reports that the first hearing date with the enforcement court on July 4, 2019 was successful and the Court is now proceeding with enforcement. The Court on its own motion will now contact various agencies and financial institutions to commence enforcement against the defendant's assets. A spokesperson for Delta stated, "We look forward to this key step of enforcing the judgment against the Sheikh's assets." For additional information, please visit http://sheikh-fahad-judgment.com/. SOURCE Delta Capital Partners
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UK-Based AI Firm Aims to Predict Case Outcomes for Litigation Funders

Anyone involved in litigation would love to have a crystal ball to help predict how things will pan out. If one UK-based startup is to be believed, that crystal ball may already exist. As reported in National Magazine, CourtQuant is leveraging AI software to predict case outcomes. The startup's 23-year old founder - Ludwig Bull - says his main clients are litigation funders and insurance firms, and has aims to bring global law firms aboard as well. CourtQuant claims to maintain 90% accuracy when predicting win rates for specific lawyers, the likelihood of a settlement, and even timelines for cases. The startup is based in the UK, but looking to expand to the U.S., Canada and globally. Litigation funders would be among the first to sign up for any software that can accurately predict such outcomes, given that they are investing capital into those very outcomes. CourtQuant even claims it can provide a specific estimate of how much the plaintiff is likely to win. However, AI is only as good as its data sets, and there is a concern over the quality of legal data sets, given that out-of-court settlements are not a matter of public record and therefore not included in the data. So how accurate can the software really be? Add to that the need for large amounts of data to enhance the predictive ability. Which means that in jurisdictions like Canada, with under 40 million people and both a common and civil law legal system, there might simply not be enough outcomes for AI to make an accurate prediction. Yet despite these concerns, the promise of AI is too great to ignore. As such, many funders are actively sourcing software providers to give them that all-important predictive edge. Only time will tell if startups like CourtQuant are worth the investment.

Concern About Defendant Insolvency in Harbour-Funded New Zealand Class Action

Law firm Adina Thorn is bringing a class action - funded by Harbour Litigation Funding - on behalf of homeowners who experienced damage to their properties due to leaky cladding installed by the James Hardie multi-national conglomerate. The James Hardie parent company is based in Ireland, and attempting to exclude it and all international subsidiaries from liability, leaving the New Zealand holding company as the sole defendant. However, Thorn claims the New Zealand holding company is balance sheet insolvent, and that the parent company should therefore be on the hook. As reported in Stuff, the claim comprises thousands of properties build or re-clad with James Hardie cladding between 1983-2011. As a result, the potential payout is in the many millions of dollars. According to Thorn, the James Hardie New Zealand holding company maintains a balance sheet deficit of $5.8MM - thanks to a $13MM dividend paid to the parent company in Ireland. Thorn also claims that the company owes $43MM in debts and unpaid loans. Thorn cited the New Zealand holding company's poor financials as reason to include the parent company in the lawsuit. Although the James Hardie parent company has been moving to extract itself from liability, it has so far bee unsuccessful. Thorn is bringing a similar cladding class action against Carter Holt Harvey, which argued that Thorn's use of litigation funding - in this case, also from Harbour - was 'objectionable' and that the law firm should have sought permission from the court before bringing a funded claim. The High Court swatted down both of those arguments, however, and the funded class action has been permitted to proceed.