The following article is part of an ongoing column titled ‘Investor Insights.’
Brought to you by Ed Truant, founder and content manager of Slingshot Capital, ‘Investor Insights’ will provide thoughtful and engaging perspectives on all aspects of investing in litigation finance.
This past June, the European Parliament’s Legal Affairs Committee published recommendations for the European Commission. This draft report is being discussed and debated by the Economic Affairs Committee before being discussed in Parliament in November. If Parliament adopts the draft report, the next step would be for the European Commission to draft new legislative proposals.
Omni Bridgeway’s share price fell subsequent to an appeals judgment against Seqwater. The ruling overturned a 2019 judgment against the dam management company. The original ruling determined that Seqwater was liable for half of the compensation claims from floods in early 2011.
Gately, the first law firm to list publicly in the UK, recently announced a GBP 20 million litigation funding arm. Expected to begin in early 2022, the funding arm will specialize in claims related to insolvency, investor and shareholder disputes, fraud, and asset protection and recovery.
Follower Notices have been in use since 2014, and refer to a notification given to someone who has used an “avoidance scheme” that was determined to be ineffective by a case against another user. This gives taxpayers an opportunity to adjust or amend their tax filings. Her Majesty’s Revenue and Customs (HMRC) issues these notices frequently, which is considered controversial for a variety of reasons.
Burford Capital Limited, the leading global finance and asset management firm focused on law, today announces that it will hold an investor event on Tuesday November 2, 2021 at 10.00am-12.30pm EDT / 2.00-4.30pm GMT / 3.00-5.30pm CET.
Liti Capital SA, a Swiss-based litigation funding provider that has opened up private equity investing to the masses through blockchain technology, is launching staking for its wLITI token.
Pretium, a specialized investment management firm with more than $26 billion in assets, today announced that it has established a legal opportunities investment team. Pretium’s legal opportunities team will work with corporations and law firms to identify and invest in legal and commercial opportunities where its team has deep knowledge and experience and that offer attractive return potential for investors. Areas of investment will include high value complex disputes between businesses, arbitrations, antitrust, patent and intellectual property, bankruptcy, distressed debt and insolvency and monetization of judgments and awards. Pretium will not be investing in consumer litigation finance.
Stonward Litgation Funding, boutique specialized in offering bespoke solutions to finance litigation both in Europe and the Americas, has a new director and Head of Legal Assets: Guido Demarco, a legal expert with extensive experience in debt restructuring (private and sovereign), NPL strategies and legal, banking and financial project management.
The International Legal Finance Association (ILFA) has appointed Gary Barnett as Executive Director and General Counsel. Launched 12 months ago, ILFA (ilfa.com) is the first-ever global association devoted to the growing commercial legal finance industry.
Litigation funding existed for more than a decade before anyone thought to question whether disclosure mandates were needed. After Gawker was driven into bankruptcy by a single lawsuit, legal professionals and even the media began discussing whether disclosure rules were needed.
The following article is part of an ongoing column titled ‘Investor Insights.’
Brought to you by Ed Truant, founder and content manager of Slingshot Capital, ‘Investor Insights’ will provide thoughtful and engaging perspectives on all aspects of investing in litigation finance.
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.
