News and analysis dedicated to the commercial litigation funding sector including regulatory issues, case developments, funding activities, and more.
Commercial
3176 Articles
Allianz Identifies Five Risk Trends for Directors and Officers in 2020
IMF Bentham Formally Jumps into Contentious CBL Class Action
Arowana Unfazed by LPF Group’s Class Action
Arowana, the New Zealand company that established Intueri Education Group in 2010, took it public in 2014, then liquidated it in 2017, is facing a potential class action lawsuit by Adina Thorn Lawyers and funded by LPF Group. However Arowana has clearly stated that the company is confident any class action against it stands no chance of success.
Litigation Funders Chomping at the Bit to Invest in Obamacare Insurance Claims
Litigation funders have long been vying to get a piece of Obamacare insurance claims, which allege the federal government failed to make good on a host of payments to health insurers. Now that the Supreme Court has decided to hear several of those claims, funders have begun reaching out to insurers with more attractive terms and pricing.
Litigation Funders Spar as LPF Group Complains to ASIC About IMF Bentham
Litigation funder LPF Group is funding a shareholder class action against the now-defunct insurance company CBL Corp., as well as its former directors. LPF has complained to ASIC, an Australian regulator, about rival funder IMF Bentham’s proposed action, which may end up targeting only CBL and not the former directors.
Burford Targets Gender Inequity in Law with Equity Project
Burford Capital’s Equity Project turned one year old last month. The initiative – launched by senior managing director Aviva Will – is aimed at incentivizing female lawyers to take greater risks. The mechanism for accomplishing this is a $50MM fund that can only be used for claims where a female attorney is first-chair, plaintiffs’ lead counsel or on a plaintiffs’ steering committee, or if the claimant is represented by a female-owned law firm.
$2.3 Billion of Capital Deployed Over 12-Month Period Across U.S. Commercial Litigation Finance Industry, According to First-of-Its-Kind Study
November 19, 2019—NASHVILLE— The first-ever detailed analysis of the U.S. commercial litigation finance industry places its size at $2.3 billion, leading U.S. litigation finance advisor, Westfleet Advisors, reported today in its inaugural Westfleet Advisors Litigation Finance Buyer’s Guide. Driven by data collected directly from litigation funders, the Guide represents the first reliable calculation of the size of the U.S. litigation finance industry and offers the most complete and revealing picture ever painted of the sector. This study includes data on the size, scope and focus of U.S. commercial litigation finance, as well as detailed profiles of many of the 41 litigation funders active in the space.
In Bid for Greater Transparency, NAB Warn Shareholders of Mounting Legal Costs
National Australia Bank (NAB) is facing a myriad of regulatory actions and lawsuits which is leaving company executives in a lurch. After voluntarily self-reporting potential compliance issues to regulators, the bank announced to shareholders in its annual report that it is facing mounting legal and financial pressure in the wake of revelations from the Hayne Royal Commission.
63% of In-House Counsel Report Increased Pressure to Reduce Costs Amidst a Lack of Resources
A new survey by Konexo, the alternative legal services department of Aussie law firm Eversheds Sutherland, has found that nearly 2/3 of in-house counsel surveyed report increased pressure to reduce costs, while resources continue to dwindle. Yet despite this, GCs are loathe to outsource work to external counsel, instead looking for alternatives to the traditional law firm model.
Why the Construction Industry is Ripe for Litigation Finance
The global construction industry is one that is utilizing litigation finance to greater and greater degrees. With heavy CapEx, a high rate of legal disputes and low margins, construction firms and contractors are finding solace in third party litigation finance.
Woodsford Litigation Funding enters the Canadian market with three key hires
Leading dispute financiers IMF Bentham and Omni Bridgeway complete merger transaction
Ruth Stackpool-Moore joins IMF Bentham and Omni Bridgeway Asia team
Parabellum Appoints Jiamie Chen as Director of Investment Initiatives
Therium Access announces second round of grant awards to improve access to justice in the UK
Hearing Set for RAM Investors in LPF-Funded ANZ Claim
Ross Asset Management (RAM) investors are suing Australia and New Zealand Banking Group (ANZ), alleging that the bank breached its fiduciary duties to investors. The first legal hurdle has emerged, with ANZ filing a ‘strike-out’ application, asking the court to dismiss the motion entirely.
Augusta launches Consumer Claims Division with hires from Deloitte, Puma Investments, Prospect Capital and Stevens & Bolton
Augusta, the UK’s largest litigation funder by case volume, today announces the formation of its Consumer Claims Division, with four new hires into the business.
Lord Thomas of Cwmgiedd joins the Advisory Committee of Therium Access, which is chaired by Lord Falconer
New research: Lawyers’ use of legal finance is growing—and becoming more sophisticated
Esquire Financial Holdings, Inc. Reports Third Quarter 2019 Results
JERICHO, N.Y., Oct. 25, 2019 /PRNewswire/ — Esquire Financial Holdings, Inc. (ESQ) (the “Company”), the holding company for Esquire Bank, National Association (“Esquire Bank”), today announced its operating results for the three and nine months ended September 30, 2019.
Acuity Law Signs £10m Litigation Funding Deal with Augusta
Leading Welsh commercial law firm Acuity Law has agreed a £10 million litigation funding facility with the UK’s largest litigation funder by volume, Augusta Ventures.
UK Court of Appeal Approves Therium’s £3B Opt-Out Class Action Against Google
A UK Court of Appeal has approved the enormous U.S.-style class action against Google in the now infamous ‘Safari workaround’ claim. 4 million claimants will be represented in an opt-out action brought by Mishcon de Reya and backed by Therium Capital Management.
Leading Dispute Financiers IMF Bentham and Omni Bridgeway Announce Plans to Merge
IMF Bentham Funding Class Action Against CBL
IMF Bentham is funding a shareholder class action against New Zealand-based CBL Corp., claiming the company failed to disclose that the Reserve Bank of New Zealand had been investigating its solvency for several years. CBL has since entered liquidation, leaving many shareholders out in the cold.
Woodsford Litigation Funding continues its significant expansion with three key London hires and continued international recruitment drive
LONDON 14 October 2019, Woodsford Litigation Funding, the global provider of litigation financing solutions for businesses, individuals and law firms, has announced further expansion of its international executive team with the appointment of Adam Erusalimsky to the position of Senior Investment Officer, Alex Hickson as Investment Officer and Daniel Littman as Commercial Manager. All three will be based at Woodsford’s London HQ.
Prominent GCs Want FRCP Oversight of Litigation Funding
45 general counsel and chief legal officers have signed a letter which requests that the Committee on Rules of Practice and Procedure amend the Federal Rules of Civil Procedure as pertains to three specific areas of MDL litigation: census of claims, interlocutory appellate review, and litigation funding.
Westfleet Advisors Adds Federal Prosecutor and Litigation Finance Veteran To Growing Executive Team
NASHVILLE, October 10, 2019—Westfleet Advisors, the leading U.S. litigation finance advisory firm, announced today that it has expanded its executive team with the additions of Barry Kamar and Michael Perich, both as Vice President and Legal Counsel. Mr. Kamar was most recently an Assistant United States Attorney (AUSA) in New Jersey. Mr. Perich joins Westfleet from AmLaw 200 law firm, Ice Miller.
