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Key Takeaways from LFJ’s Q3 Roundup on the State of the Commercial Litigation Funding Industry

By John Freund |

On Wednesday October 7th, Litigation Finance Journal hosted a quarterly roundup on the major issues impacting the commercial litigation funding industry. The 45-minute panel discussion was moderated by Ed Truant, founder of Slingshot Capital. Panelists included Jim Batson, Senior Investment Manager of Omni Bridgeway, Nick Pontt, Managing Director of Affiniti Finance, Mick Smith, founder of Almatura, and Paul Haskel, partner at Richards, Kibbe & Orbe, LLP. 

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Litigation Funding Opportunities are Here to Stay

By John Freund |

It’s no secret that when the economy is tough, litigation increases. As the CEO of LexShares, Jay Greenberg, explains–even those who don’t normally use litigation funding are reaching out. Businesses are more anxious than ever to collateralize existing lawsuits and take steps to ensure that any impending claims can be litigated effectively.

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Canadian Insurers Sound Alarm over Litigation Finance

By John Freund |

Litigation funding is growing in popularity all over the world. The practice of third parties funding cases in exchange for a share of the rewards is a lucrative business model. Better still, it increases access to justice for those who couldn’t otherwise afford it. So why are insurers in Canada speaking out against the practice?

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Burford Capital Profits Down—but Not Out

By John Freund |

A new report from Burford Capital reveals that profits were down 15% during the first half of this year, as it reported to the London Stock Exchange. Much of this is due to fallout from Coronavirus, which led to group-wide commitments ending down a startling 74% to roughly GBP 152 million.

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Stonewood Case Stay of Proceedings Lifted

By John Freund |

Questions about litigation funding led to a stay of proceedings during the liquidation of Stonewood Homes. That stay has been lifted by Associate Judge Owen Paulsen on September 25th. In August, a ruling stated that the liquidators, Rhys Cain and Rees Logan, could submit a request to lift the stay once concerns regarding the funding arrangement could be addressed.

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Asia-Based Companies Have Their Eye on US IP Litigation

By John Freund |

Litigation regarding intellectual property is undergoing a transformation. Judicial and legislative reform has led to changes that have made IP cases more complex and time-consuming, and therefore even more expensive to see to completion. Interestingly, companies based in Asia are looking toward US monetization strategies despite the inherent challenges of doing so.

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Got Tax Disputes? Litigation Funding to the Rescue

By John Freund |

Tax disputes are common, yet notoriously difficult to complete. They’re also expensive, complex, can take years to fully resolve and even longer to complete structured payments. When large businesses and corporations are involved, existing rules make the situation even more complicated. Litigation Finance is commonly sought in class actions and other large litigation. But now some suggest that there’s a place for litigation funding in the world of tax disputes.

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Burford CEO Q&A: The Future of Litigation Funding

By John Freund |

A trade group comprised of Litigation Finance entities was a long time coming. Over the last decade, the industry has evolved from a niche service used in very specific circumstances to a multi-billion-dollar industry spanning the globe. The formation of the International Legal Finance Association (ILFA) is a welcome addition to the litigation funding landscape. 

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Singapore Legislation Welcoming Litigation Funders Goes into Effect

By John Freund |

As the Litigation Finance industry has grown, some parts of the world have met the practice with suspicion. Some countries have suggested or enacted legislation designed to encumber and restrict the process of third-party funding in litigation. In the wake of COVID-19, however, the need for the practice has been affirmed.

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Keeping Corporations Honest with Class Actions

By John Freund |

Unless you are new to the world at large, you know that corporate misconduct happens. And sadly, it’s not always appropriately consequenced. In Australia alone, over a billion dollars has been paid or offered to customers as part of awards or settlements for misconduct.  

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Interpreting ABA’s Best Practices Guidelines

By John Freund |

As Litigation Finance has grown, so has industry suspicion over the practice. Some groups are obsessed with the idea that lit fin requires greater oversight and even reform. In August of this year, the ABA distributed its Best Practices for Third-Party Litigation guidelines. This document is the first time the ABA has formally addressed Litigation Finance since 2012.

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Litigation Funding Fuels Religious Art Dispute

By John Freund |

A contentious legal battle between artist Akiane Kramarik and Carole Corneliuson of Art & SoulWorks is well underway. The artist earned worldwide acclaim after an appearance on the Oprah Winfrey show when she was only nine. Since then, her art has been reproduced and sold around the globe. As financial discrepancies emerged and poor reproductions of Kramarik’s work came to light, legal action was taken to dissolve the business relationship and prevent Art & Soulworks from selling more of Kramarik’s work.

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Treaty Reforms Fail to Protect States from Energy Lawsuits

By John Freund |

Should energy companies be able to sue governments when climate change impacts their business? A potential overhaul to the UK private court system might have prevented that altogether. However, negotiators have ruled out any new rules that would prevent fossil fuel and other energy-producing companies from suing governments.

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Short-Seller Accuses Nikola of Deception

By John Freund |

Nikola, a company that calls itself a pioneer in electric vehicles, has been accused of deception by a Hindenburg Research report. The report refers specifically to videos created to make prototype vehicles appear fully functional, and other alleged deceptions about the status and efficacy of its newest tech. Could a shareholder class action be forthcoming?

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Nigeria Risks Major Losses in Malabu Recovery Deal

By John Freund |

Nigeria’s Ministry of Justice has been asked to weigh in on a secret deal between two Lagos-based solicitors (Johnson and Johnson) and an offshoot of Drumcliffe Partners—an American litigation funding firm. The deal focuses on monies recovered from the OPL 245 oil scandal, after rampant misuse by Dan Etete. If the secret deal stands, as much as 35% of all recovered awards might then find their way to the US funder rather than the Nigerian people.

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Dual Listing Approved for Burford Capital

By John Freund |

The Securities and Exchange Commission process continues as Burford Capital moves ahead with its plan for a listing on the New York Stock Exchange. The company has been listed on the AIM exchange in London since 2009. Burford announced that they have received approval for the new listing, however, official approval is still pending as customary listing conditions dictate.

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Rise in Catastrophic Claims Causes Insurance Premiums to Skyrocket

By John Freund |

The litigiousness of modern society cannot be denied. Now that so-called “nuclear” verdicts are more commonplace, insurance companies are raising premium prices to keep up. Dubbed “social inflation,” the ever-rising insurance costs are particularly impactful to property owners and real estate developers.

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