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The UK case Merricks v Mastercard will move to trial thanks to a new litigation funder for claimants. The case could impact more than 46 million consumers in the UK, who are seeking damages of more than GBP 15 billion.

Investors in Ross Asset Management have recently reached a settlement with ANZ, a joint statement revealed. The case alleged that the bank knew, or should have known, that David Ross was essentially engaged in a Ponzi scheme.

One group of Binance traders has asserted that they lost $20 million in cryptocurrency trades earlier this year. Bitcoin prices dropped by as much as 30% last May—following the announcement of a Chinese crackdown on cryptocurrency.

Leading litigation funder Burford Capital has revealed that nearly 50% of its current cases have experienced delays relating to COVID.

In Asia, legal funding has been used in insolvency cases for over ten years. Since Hong Kong and Singapore adopted a funding framework for third-party arbitration, appreciation for funding has grown.

It’s well known that information loses its attorney-client privilege when shared with a third party. Increasingly, however, rulings are allowing for documents and exchanges shared with third-party legal funders to be protected.

His Honor Judge Cadwallader ruled that a couple suing their former solicitors should be held liable for costs. The Liverpool judge also affirmed that Vanessa and Michael Kennedy breached their agreement with law firm Bermans and the funder, Escalate Law, when they misled their lawyers.

The High Court of Singapore took a dramatic step recently in granting ‘super priority’ status in a corporate restructuring. This is the first time any third-party legal funder has been given such an order since Singapore’s IRDA became law in 2018

New Jersey’s new disclosure rule regarding third-party legal funding is in effect. As such, a recent climate change case saw the disclosure of a non-profit providing limited funding for attorney…

This past year has seen multiple judgments supporting the validity of class actions—once thought ‘too American’ for many jurisdictions. London courts in particular have paved the way for collective actions against big businesses. Litigation funding has proliferated, and is spurring access for justice to parties who would otherwise be left out in the cold.

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.

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.

It’s no surprise that COVID has resulted in an influx of insurance-related litigation. Specifically—the question of whether individual commercial insurance policies cover business interruption caused by the pandemic.

In recent years, Kosovo has taken a number of steps to promote foreign investments. Among these is the ratification of bilateral investment treaties with Switzerland, Luxembourg, Austria, and Belgium, among others. In 2014, a Law on Foreign Investment was adopted, which outlines the use of arbitration for investor-related disputes.

A lawsuit brought by Union Investment, Germany’s third-largest asset manager, is not welcome news for banks and bondholders. Wirecard is accused of making more than 70 statements, including corporate press releases, that are being described as fraudulent.

It cannot be denied that third-party litigation funding is a boon to justice. In many instances, it’s the only way that impecunious plaintiffs can have their day in court. At the same time, legal funding is a business that depends on ROI for investors. That’s why funders have a lot to say about a proposed new regulation in Australia, legislating a standard minimum return to class members in funded class actions. Some have suggested this guaranteed percentage be as high as 70%. Is that reasonable?

One Delhi-based startup has created a litigation funding platform with retail investors in mind. Investors may now fund cases as a third party for as little as 25,000 rupees, or about $335 USD. Called LegalPay, the startup is focusing on late-stage commercial arbitrations.

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.

While class action attorneys and litigation funders are fuming, publicly-listed companies in Australia are breathing easier after continuous disclosure laws were relaxed. This move is expected to protect company officers against liability for deceptive, misleading, or incomplete disclosure to stockholders—unless fault is proven affirmatively.

Canada has joined the US, UK, EU, Singapore, and Australia (and now many others) in having fully embraced third-party legal funding. Courts are seeing the value in the practice and are ruling accordingly. Combined with the increase in contingency fee arrangements—Canadian plaintiffs are seeing access to justice increase.

The International Legal Finance Association (ILFA), founded in 2020, is a global association of third-party legal funders committed to self-regulation and promoting high industry standards. The ILFA has provided commentary on the proposed new regulation, as well as context around the concerns purportedly being addressed.

A motion to compel disclosure of a funding agreement was denied in a recent case accusing Southwest Airlines and Boeing of collusion to cover fatal aircraft defects. Damonie Earl et al v Boeing revolves around allegations that Southwest and Boeing colluded to mislead ticket buyers about 737 Max Jets—which were defective.

Leading litigation funder Omni Bridgeway is currently investigating claims made by CMC Markets’ Crude Oil West Texas Intermediate Cash product. Investors are encouraged to register their interest in a potential class action relating to investment losses and damages. This is not book building, but rather a gauge of interest in the matter.

Claimants were shocked and upset recently when a settlement ended a class action lawsuit against James Hardie—leaving potential claimants without any compensation. One such claimant, Leslie Wheatley, stated that she and other claimants believed they had a strong case. Allegedly defective cladding systems caused their homes to leak, necessitating significant and expensive repairs.

In 2016, anti-trust proceedings were filed against Mayne Pharma, asserting that it conspired with other defendants to artificially inflate generic pharmaceutical prices and restrain trade. This led to a 10% price drop over several days of trading.

Attorneys for a class-action case filed against Lloyds of London are asking other affected businesses to join the action. The focus of the case involves business interruption insurance, and whether or not COVID-related closures should be covered.

Sometimes an NDA feels so basic there doesn’t seem to be a need to read it. At the same time, not reading something before you sign is folly—unless you’re talking about iTunes terms and conditions. In a recent case, Harcus Sinclair LLP v Your Lawyers Ltd, a partner in a law firm admitted to not reading the NDA before signing. Not surprisingly, the judges were not amused. This oversight caused pointedly negative consequences for the law firm and the litigation funder.

Since January of 2019, UK-based AxiaFunder has secured nearly GBP 2 million in funds from investors. So far, the litigation funding platform has funded 13 cases, netting an impressive average investor return of 55%.

Leading litigation funder Omni Bridgeway is currently observing multiple significant milestones, including the 35th anniversary of its founding. In addition, 2021 represents 20 years since it was first listed on the Australian Stock Exchange, and the opening of its German arm.

One Florida committee has suggested changes to its policies on law firm ownership. So far, lawyers are sharply divided. While the Florida committee does acknowledge that many lawyers are resisting reforms in this area, that hasn’t dissuaded them from pursuing it.