Even among other large-scale infrastructure projects around the world, China’s Belt and Road Initiative (BRI) is impressive. Its plan is to expand and fortify the Silk Road in an international effort that involves stakeholders from around the globe. In any venture of this size, legal disputes cannot be avoided.
Two of the most prominent art lawyers are departing their New York law firm to open a boutique firm. The founders of the new firm, Larry Kaye and Howard Spiegler, announced their intent to focus solely on matters involving art law. Those involved have called the split “friendly,” and say it’s largely about Kaye Spiegler embracing higher levels of risk.
In the early days of litigation funding, legal firms and funders were separate entities. As the industry has grown more widely accepted, an increasing number of law firms are teaming up with funders to offer clients an array of new services. Now some are questioning whether this is really a positive development.
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.
Per Australian law, Omni Bridgeway has registered with ASIC as a litigation funding scheme. This statement has been distributed to all applicable parties with an interest in the appeals in Halifax Investment Services Pty Ltd v Loo, and Halifax New Zealand limited v Loo, for Category 1 Investors.
According to research from Westfleet Advisors, at least 95% of cases pitched to third-party funders are rejected. Litigation funding is increasing in popularity and new entrants are always entering the space. But that hardly means securing getting a funding agreement is a sure thing.
As lawyers, courts, and plaintiffs develop an appreciation for Litigation Finance, competition becomes increasingly robust. Demand for funding is up, as are the number of new funders throwing their hats into the ring. There’s a wide array of funding entities now, and they vary in terms of preferred case size, minimum and maximum deployments, jurisdiction, commercial or industry specialties, and more.
