Legl Funding Raises GBP 5Million
Fully digital law firms are on the way, thanks to a new B2B SaaS platform developed by Legl, a London firm. Founded by Julia Salasky in 2019, Legl focuses on law operations.
Fully digital law firms are on the way, thanks to a new B2B SaaS platform developed by Legl, a London firm. Founded by Julia Salasky in 2019, Legl focuses on law operations.
Competition between law firms in London just got a little more fierce. Byrne and Partners and PCB Litigation have merged—with Burford Capital’s blessing. The deal will go live next month when PCB Litigation moves into the Byrne and Partners offices. This will result in a firm led by 15 partners.
Australia’s predilection for over-regulating litigation funders is on display again. A proposed 30% limit on gross returns to funders could devastate funding for class actions. New research from PwC’s Jeremy Thorpe suggests that even a 36% return rate for funders would fail to cover even basic legal costs.
The financial world has been on the receiving end of investor-related whimsy of late. Bizarre and unexpected high-end investments are taking financial pros by surprise. But what is driving these unusual, sometimes even hilarious, investments?
The current legal climate in Kenya isn’t much different than that of the developed world. Access to justice is often limited to what the litigant can afford or raise. Those who cannot afford to fund their cases may sell off assets or crowdsource funds. But as of now, the option to seek third-party litigation funding on a non-recourse basis is not available to Kenyans.
Regulations regarding damages-based agreements can create havoc in a collective action. Recently, all eyes were on a Court of Appeal ruling regarding truckers and the Road Haulage Association, as well as the third-party funders financing the collective action.
Aviva Will is the founder of The Equity Project, as well as the Co-CEO of Burford Capital. In honor of International Women’s Day, she led a panel on how men can better challenge gender inequities in the legal field.
Augusta Ventures, the largest litigation and dispute funding institution in the UK by volume of cases, has provided financing to help the Consumers’ Association (known as Which?) launch an opt-out collective claim, litigated by Hausfeld, against Qualcomm, Inc. for over £480 million, on behalf of a class of around 29 million UK consumers.
Australia’s High Court determined by a slim 3-2 majority that first-come-first-serve will not apply to overlapping or competing class actions. Some have suggested that there should be a presumption that the first case filed should proceed, and later cases stayed. The High Court disagreed, and instead suggested numerous factors that should be considered.
Billion-dollar verdicts in IP cases don’t happen every day. Even when they do, they typically don’t hold up on appeal. Yet these sizable verdicts turn heads in the media and bring attention to the value of patents. This attention is a welcome change for some who claim that the media has an anti-patent bias.
In a sign of how law firms might be growing more cost-conscious, Trans-Atlantic legal firm Bryan Cave Leighton Paisner cut its workforce by 4% globally as part of its newly adopted strategic plan. This included closing one office in Beijing, and intensifying focus on specific areas of practice.
Dr. Martin Metz LLM has recently joined the team at Omni Bridgeway as Senior Legal Counsel and Investment Manager. Formerly of DLA Piper, Metz will now be based in the Cologne office.
Patent litigation cases have soared dramatically since the beginning of the pandemic. Frank DeCosta of Finnegan, Henderson, Farabow, Garrett & Dunner, knows that companies are leveraging IP assets with strategic litigation—which is more valuable now than ever before.
Indiana Resources is still pursuing its case against the government of Tanzania. The case deals with the alleged expropriation of the southern African Ntaka nickel project. Indiana’s claim now exceeds $95 million, with the first hearing scheduled for next month.
International firm PGMBM has formed a partnership with alternative investment firm North Wall Capital. This brings PGMBM’s total capital raised to more than GBP 100 million.
Law firm Leigh Day is on its way to getting justice for the roughly 4,000 investors in the now-defunct Woodford Equity Income Fund against Link Fund Solutions. In fact, the corporate directors could find themselves in High Court within the next few months.
Influence. It’s one of the key concerns that lawmakers have about third-party litigation funding. The fear is that funders, who do not have a direct connection to a legal dispute, yet fund it in the hopes of earning a share of the award, may unduly influence decisions about the case that may adversely impact courts, plaintiffs, or defendants. So what happens when funded cases involve one or more federal governments?
A new, Singapore-based Investment Manager has joined Omni Bridgeway.
Treble damages have been called the white whale of IP and patent law. For contingency lawyers, treble damages—an award where the damages are multiplied by three because of willful infringement—can be a dream come true.
Burford Capital is in the midst of assembling a study of how CFOs can make better use of legal funding. Finance professionals Amanda Parness, Michael Curran, and Jim Kilman lend their thoughts to the discussion.
Litigation Finance began as a way to expand access to the legal system for those who could not otherwise afford it. Funders could provide non-recourse cash to a promising case in exchange for a percentage of any award. If the case fails, the funder loses its investment. Third-party legal funding is still used this way, but has also expanded to portfolio funding, claims monetization, and more.
Partners Capital has been through a lot in the last year. Arjun Raghavan became the CEO in July of last year. Since then, the firm has hired a new managing director and a head of ESG. Last month, Colin Pan departed as CIO. Despite the internal reshuffling and the impact of COVID, Partners Capital reportedly enjoyed its best year ever.
Litigation funders already know that legal assets can be a source of revenue for businesses—especially those left strapped for operating funds during COVID. The problem? Finance departments may not realize funding is an option. To bridge this knowledge gap, one leading funder conducted an informal survey of finance professionals.
A new survey by Blickstein Group and Legal Value Network suggests that large law firms may be more open to the idea of non-traditional fee arrangements. At the same time, more than half of the survey respondents assert that attorneys’ resistance to change is the most difficult aspect of adopting new payment models.
Remote depositions have become part-and-parcel of remote legal work during the pandemic. Now, one litigation funder has taken steps to partner with a remote deposition legal tech solution.
Deminor Recovery Services announces the closing of a financing round consisting of equity, senior bank loans and mezzanine finance for an amount up to €40 million to support its rapidly growing litigation funding activities globally.