News and analysis dedicated to the commercial litigation funding sector including regulatory issues, case developments, funding activities, and more.
Commercial
3048 Articles
Attorney Lynwood Evans Appointed to Leadership Role in Camp Lejeune Water Contamination Litigation
Ward and Smith is pleased to announce that litigation attorney Lynwood Evans has been appointed to the Plaintiffs’ Executive Committee in the litigation over contaminated water at Camp Lejeune. This appointment is particularly significant as we are quickly approaching the first anniversary of the Camp Lejeune Justice Act.
Parties in Burford-Funded Argentina Claim Remain Far Apart on Payout Amount
Cases with a prolonged duration and timelines that span nearly a decade are not uncommon for those in the business of litigation finance. However, even in cases where claimants receive a favourable judgement, there is always the issue of determining the size of the award, which further prolongs these lawsuits.
Funders Respond to the UK Supreme Court Judgement
Earlier this week, the UK Supreme Court handed down a long-awaited judgement that many believe will have a significant impact on the short-term future of the UK litigation funding market. The ruling in the case of R (on the application of PACCAR Inc and others) (Appellants) v Competition Appeal Tribunal and others (Respondents) held that litigation funding agreements (LFAs), where the funder’s remuneration is based on a percentage of the recovered damages, should be classified as damages-based agreements (DBAs).
Funding Opportunity: 4 Rivers Seeks Funding for RICO Claim
4 Rivers has a case which requires urgent funding. It is a RICO claim against a large insurance company, which has recently been found to be already engaging in serious misconduct, including a Punitive Damages award against it, and found vicariously liable for assisting arsonists.
Lawyer Directed Litigation Funding Agreements And Professional Conduct Rule 5.4
The following article was contributed by John Hanley, Partner at Rimon Law, and Ryan Schultz, Vice President of Business Development for Woodsford Litigation Funding.
Third-party litigation funding (“TPLF”) involves financing of expenses incurred in a lawsuit (for example, expert fees and usually some portion of legal fees incurred) in exchange for a share of the final judgment or settlement. The funding is typically non-recourse (i.e., the amounts funded need not be repaid if the lawsuit is unsuccessful) and is often repaid through a financial interest in the attorneys’ fees realized by the law firm if the case is successful. These arrangements have become common in the marketplace: in 2022, $3.2 billion in capital was committed for new TPLF; 61% of that capital was deployed to law firms as opposed to clients and claimants; and 28% of the funding recipients were members of the Am Law 200.1
Litigation Capital Management Limited: Progress on Fund I investment
Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces a positive development on an investment within its Fund I portfolio.
Latest Burford Quarterly journal of legal finance addresses top trends in business of law
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 the top trends impacting the business of law.
Litigation Capital Management to announce strongest results to date, dividend payment, and transition to fair value accounting
Litigation Capital Management Limited (AIM:LIT), a leading alternative asset manager of disputes financing solutions, provides a market update for the twelve month period to 30 June 2023 (“FY2023”).
EJF CAPITAL AND ROCADE LLC RAISE APPROXIMATELY $470 MILLION FOR CREDIT-FOCUSED LITIGATION FINANCE PLATFORM
EJF Capital LLC (“EJF Capital”), a global alternative asset management firm, today announced the successful close of its fourth installment of litigation finance investment vehicles, Rocade Capital Fund IV LP and Rocade Capital Offshore Fund IV LP (the “Funds”) with approximately $220 million in investor subscriptions and commitments. Previously, EJF Capital and funds affiliated with Barings LLC, one of the world’s leading investment managers, formed a joint venture specialty finance company, Rocade LLC (“Rocade”), with $250 million of committed capital designed to invest alongside the Funds. The combined capital commitments raised across Rocade and the Funds totals approximately $470 million.
