When funding leader Burford Capital took a long look at the ways legal and finance teams manage legal assets for their companies, they learned a lot. Most vitally, there are three things companies can do to make better use of their legal assets.
It’s largely agreed that uncorrelated investments are in demand. Given the ongoing impact of COVID, as well as pending inflation, it makes sense to seek out uncorrelated assets. But SYZ Capital co-founder and managing partner Marc Syz, says that some investors may be confusing correlation with risk.
Six banks based in China have avoided liability in their role in the Nike Counterfeit case. The banks were cited for failing to freeze the assets of several hundred counterfeiters of Nike goods. Together, the banks faced sanctions of up to $150 million.
An investor group led by asset recovery funder Drumcliffe LLC has purchased 1,138,245 shares in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) (“Odyssey”), from Epsilon Acquisitions LLC in a private transaction exempt from the registration requirements of the Securities Act of 1933, as amended.
In-house legal departments are enduring more pressure than ever to reduce expenses. According to a survey by Harvard Law with Ernst & Young, 88% of GCs stated that they’ll likely have to reduce legal spending over the next few years, while more than ¾ have difficulty meeting current workload goals. Roughly the same number have predicted that their workload will soon grow to exceed their budgets.
At some point in the business life cycle, every law firm could use a financial boost. Law firm funding helps firms and legal departments monetize pending litigation by providing non-recourse funds. This differs from standard business loans which are paid back fully with added interest.
Burford Capital Limited, the leading global finance and asset management firm focused on law, today released the following statement on its performance for the six months ended June 30, 2021 and on matters relating to its potential conversion to US GAAP. Burford is scheduled to release its interim results on September 9, 2021. All figures in this disclosure are unaudited and presented on a Burford-only basis, unless otherwise stated. Certain definitions are provided below; additional definitions, reconciliations and information are set out in Burford’s 2020 annual report, available at www.burfordcapital.com.
Liti Capital’s wLITI token, a wrapped version of the Swiss company’s LITI equity token, has been listed on the Bitcoin.com Exchange on 24 August at 10:00AM UTC. wLITI is trading with BTC and USDT pairs.
Litigation Finance is a growing asset class, spurred on by the financial fallout caused by COVID. Increasingly, investors are seeking uncorrelated investments. As Gary Sweidan, founder of Taurus Capital explains, litigation funding is about as uncorrelated as it gets.
The COVID pandemic has wreaked havoc on many industries, energy included. Energy usage fell, production disruption was rampant, regulations changed all over the world, and at least 19 energy companies filed for bankruptcy last year. Burford’s newly commissioned 2021 Asset Report explores the ways in which energy companies can use their legal assets to create revenue.
This week, James Hardie Industries announced a settlement in a weather tightness class action heard in Auckland High Court—in the middle of a trial expected to last 17 weeks. James Hardie, a global producer of fiber cement and fiber gypsum, will receive NZ $1.25 million as part of the settlement.
Leading litigation funder Omni Bridgeway is currently observing multiple significant milestones, including the 35th anniversary of its founding. In addition, 2021 represents 20 years since it was first listed on the Australian Stock Exchange, and the opening of its German arm.
Anyone hoping to be a success in the world of legal finance should expect to amass knowledge from multiple industries. Banking, litigation, corporate finance, IP and patent laws, and more. This is why many of the most successful funding entities employ staffers from multiple business disciplines, and why they seek out those with cross-disciplinary skill sets.
Burford Capital is the largest Litigation Finance company on Earth. Returns on litigation investments are consistently high, yet investment pros can’t seem to agree whether Burford stock is a big risk or a sure thing. The truth, as always, may be somewhere in between.
Funders and risk specialist Erso Capital has released its Q1 statement, and it seems largely positive. The funders report high demand for single-case funding. It also boasts a strong portfolio of completed transactions in several jurisdictions.
RBG Holdings has recently published its pre-close trading update. This comes ahead of its six-month financial report—expected in September of this year. RBG Group includes several profitable divisions, including those providing commercial and dispute-related legal services, and litigation funding.
The story of Lionheart Capital begins with John Ruiz and Ophir Sternberg (real estate developer and founder of Lionheart). Sternberg joined forces with hedge fund Elliott Management, turning Heart Hospital into a spate of luxury villas. This past May, Ruiz and Sternberg bought Cigarette Racing Team together.
The financial uncertainties brought about by COVID are one driver for the increased use of third-party legal finance. Businesses are becoming insolvent in record numbers. Even those with strong cash reserves are burning through them at unprecedented rates. How does legal funding help?
AxiaFunder is a new and innovative investment platform that focuses on litigation funding as an asset class. Founded by Cormac Leech, the UK startup caters to sophisticated investors.
Complaints against third-party litigation funding tend to focus on a few oft-repeated points. Increased litigation, class actions in particular, ostensibly cause insurance rates to rise. Funders aren’t always required to disclose their funding agreements, ostensibly hiding a potential conflict of interest. Finally, funders are blamed for a supposed increase in frivolous actions—even though no funder wants to take on a case without merit.
Prominent third-party litigation funder LCM (Litigation Capital Management) has secured a trio of major legal funding agreements in the last seven weeks. These include cases against rail services giant Govia, French electrical retailer Darty, and former Carillion auditor KPMG. As expected, investors have noticed LCM’s success; share prices rose 25%. Many analysts, including Simon Thompson, are lauding the stock and calling it a ‘buy.’
