News and analysis dedicated to the commercial litigation funding sector including regulatory issues, case developments, funding activities, and more.

When a loved one dies, thinking about money may be the last thing on anyone’s mind. But it may also be an introduction to the complex and time-consuming world of probate.

Nanoco Group recently released an update in their legal action against tech giant Samsung. The suit alleges the willful infringement of Nanoco IP. The patent infringement suit was filed against multiple Samsung entities in February of last year. Nanoco has accepted financial assistance from a third-party litigation funder in order to pursue the case.

Remember the lawyer from Erin Brockovich? He married a former cocktail waitress. They bought multiple luxury houses and two private jets. If that sounds like the sensationalized stuff of reality TV, that’s because it is! The Girardis eventually wound up on The Real Housewives of Beverly Hills. So what happened?

Critics of Litigation Finance appear to be celebrating Australia’s proposed cap of 30% on potential returns for litigation funders. It’s hard to argue that such a move would not have enormous, industry-wide consequences. Some say it’s ‘unfair’ for funders to reap high profits while claimants, who were actually damaged by the factors in their cases, receive a paltry sum. But who is really taking on the most risk?

We already know that litigation is expensive. We also know that even if a claimant can technically afford a lawyer, they can easily be outspent by corporations and other big spenders who may be practiced in avoiding responsibility. That’s why litigation funding was developed—to level the playing field between the Davids and Goliaths of the legal world.

As of yesterday, the Singapore Ministry of Law is extending the third-party legal funding framework in order to cover more types. These include domestic arbitration proceedings, some cases heard at the Singapore International Commercial Court—and related mediation proceedings.

Debate continues as to whether the New Jersey district court’s new disclosure rules impacting litigation funding are a celebration of transparency or a futile exercise in unnecessary regulation. What happened?

Nicky Foulston inherited the racing circuit Brands Hatch when she was a mere 19 years old. In just over a decade, she had taken a loan of GBP 6 million and used it to turn Brands Hatch into a powerhouse circuit. She ultimately sold it for a staggering $195 million in 1999.

The regulations surrounding the practice of third-party legal funding are ever-changing. As the practice becomes more popular as a product and an investment—interest in legislating litigation funding grows. Recently, Roy Strom discussed what we can expect in the coming months.  

Manolete Partners, a leader in insolvency litigation funding, recently released a new report. In it, they revealed that shares have lost half their value within the last year.

A recent case involving gambling license jurisdictions and online gaming has gained the interest of Advofin, the oldest litigation funder in Austria. Advofin is seeking EU 40 million to recoup funds lost by more than 2,000 Austrian citizens who gambled online.

One survivor of sexual abuse in childhood is spearheading a class action against Auckland’s Dilworth School—the wealthiest school in New Zealand. Neil Harding, along with an undisclosed claimant, asserts that the school knew that young boys were being sexually abused by teachers and staff as early as the 1970s. The case is being funded by LPF Group—the leading New Zealand litigation funder.

Will a new disclosure requirement in New Jersey federal court ‘create more issues than it solves?’ Some members of the International Litigation Finance Association (ILFA) believe so. On Monday, Chief Judge Freda Wolfson ordered that third parties providing non-recourse legal funding must be disclosed to the court.

Manolete, a leader in insolvency litigation funding, recently announced that Lord Howard Leigh of Hurley has been appointed as Chairman designate and senior independent director.

The ongoing legal action between the Pakistani government and asset recovery firm Broadsheet experienced a new development on June 9. Richard Dietz withdrew an application to have attorney Stuart Newberger give testimony about VR Global’s litigation funding agreement with Broadsheet—the asset recovery firm Dietz funded. Broadsheet was handed a multi-million dollar payment by the government of Pakistan in January, yet Dietz is still seeking compensation.

Connor Murphy is currently a Director at Burford Capital. His focus is on new business origination with corporates and firms in the US. Before this, he was General Counsel for Capstone Advisory Group.

Litigation funding has taken off in the last decade, largely due to its utility and benefits—but also spurred by the financial unrest caused by COVID. In the ten years since its inception, the Litigation Finance industry has grown, adapted, and flourished as an investment and a product.

The Legal-Tech Act has recently been passed in Germany and will take effect in October of this year. Essentially, it allows attorneys more flexibility with regard to contingency agreements. This act is the opening move in a series of planned reforms to Germany’s legal service market.

A new court rule in Scotland takes effect on June 30th of this year. The rule allows for QOCS, or qualified one-way cost shifting in personal injury cases.

Is a positive verdict enough once a defendant declares bankruptcy? It may not seem like it, but in fact, plaintiffs may find bankruptcy court a more expedient option in some situations.

Is post-pandemic global inflation a certainty? Probably not. But it’s worth noting that pandemic alleviation spending, quantitative easing by the Fed, and a sizable budget deficit are creating similar conditions to the last large inflation peak—way back in 1947. There are other factors to consider, some of which are difficult to predict. Consumers are excited to spend, travel, and do all of the things the pandemic prevented them from doing. What does that mean for litigation funding?

A sizable class action against Carter Holt Harvey ended abruptly when offshore third-party funders voided the funding arrangement for unspecified reasons.

Having closed its $25 million LexShares Marketplace Fund in January of 2018, LexShares’ second fund—targeted at $100 million, is well underway.

Do both sides of a case need to know when third parties have an interest in the outcome of their case? David Levitt of Hinshaw & Culbertson says yes. He has proposed changing the rules in the District of New Jersey to require plaintiffs and defendants alike to disclose information about TPLF agreements.

Targeting the oft-maligned Real-Time Bidding (RTB), the Irish Council for Civil Liberties is taking IAB Tech Labs to court. The focus is on consumer privacy. This is a potentially far-reaching case as it addresses tactics used by Twitter, Amazon, Google, and Facebook among others.