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Commercial Deals

A Snapshot of ESG in Litigation Funding

By John Freund | August 18, 2022

As the litigation funding market continues to grow and evolve, funders are placing a higher value on environmental, social and governance (ESG) issues. This development raises questions about the connection between ESG and litigation funding, how litigation funders are currently addressing ESG, and what the future of ESG in litigation funding will look like. The following article will offer answers to those questions and act as a general overview of the state of ESG in litigation funding.

Announcements Commercial

Experity Ventures Ranks # 682 on the 2022 Inc. 5000 Fastest Growing Private Companies

By John Freund | August 18, 2022

Today, Inc. Magazine revealed that Experity Ventures is # 682 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy’s most dynamic segment—its independent businesses. Microsoft, Facebook, Under Armour, Patagonia, Chobani and many other well-known names gained their first national exposure as honorees on the Inc. 5000.

Commercial Regulatory Issues

SEC’s Proposed Amendments Might Impact Litigation Funding

By John Freund | August 16, 2022

As part of a broader effort by the US Securities & Exchange Commission (SEC) to increase transparency around hedge fund investing and reduce risk in the financial system, the spotlight has fallen on the activities of funds engaging in litigation financing investments. In a proposal last week, the SEC would require hedge funds and private investment advisors to confidentially disclose their litigation funding activities and spending.

Case Developments Commercial Special Features

Federal Court of Australia Orders Respondent in Shareholder Class Action to Hand Over Insurance Information

By John Freund | August 9, 2022

The following piece was contributed by Anne Freeman of Australian law firm, Piper Alderman.

Virgin Australia, which has been sued by investors who purchased unsecured notes in the airline based on statements in a 2019 prospectus for a capital raising, has been ordered to advise the lead applicant in the class action whether its has made a claim against its insurer for its costs and any liability in the class action, and whether its insurer has agreed to grant indemnity. It has also been ordered to produce copies of any insurance policies which might respond to the claims made in the class action[i].

Announcements Commercial People Moves

BURFORD CAPITAL APPOINTS DR. RUKIA BARUTI AS AN INDEPENDENT NON-EXECUTIVE DIRECTOR

By John Freund | August 9, 2022

Burford Capital Limited, the leading global finance and asset management firm focused on law, is pleased to announce the appointment of Dr. Rukia Baruti as an independent non-executive director.

Commercial People Moves

Global Law Firm announce expansion and name change

By John Freund | August 8, 2022

Global law firm PGMBM will now be known as Pogust Goodhead after a succession of litigation victories.

Announcements Commercial People Moves

Omni Bridgeway expands its investment team in Canada with Laura Scheim

By John Freund | August 3, 2022

Legal finance company Omni Bridgeway is expanding its Canadian operations with the hire of Laura Scheim as associate investment manager and legal counsel. Based in our Montreal office, Laura brings expertise in commercial and tax litigation, and a background that includes clerking at the Supreme Court of Canada and the Quebec Court of Appeal.

Announcements Consumer

High Rise Legal Funding Focuses on Car Accident Pre-Settlement Funding in 2022

By John Freund | August 3, 2022

Due to the increasing number of vehicle accidents and related lawsuits, High Rise Legal Funding announced they are focusing on car accident pre-settlement funding in 2022.

Case Developments Commercial

Inventor Leverages Litigation Funding to Beat Microsoft

By John Freund | August 2, 2022

One of the great benefits of third-party legal funding is the ability for small companies and even individuals to fight on a level playing field against the world’s largest corporations. This dynamic was made evident in a recent case, where a US inventor was able to achieve a $10 million award for patent infringement from Microsoft, after enlisting the support of a litigation funder.

Woodsford Whitepaper on Litigation Finance and Bankruptcy in the United States

By John Freund | August 2, 2022

Engaging litigation investment is a fundamental utility for firms navigating the thorny journey of bankruptcy restructuring. Woodsford has published a new whitepaper with insights into the benefits that litigation finance offers during corporate insolvency reorganization.

Announcements Case Developments Commercial

English Court of Appeal decides that ground-breaking £93m legal claim brought on behalf of rail passengers against train operating companies can proceed

By John Freund | July 30, 2022

London’s specialist competition court, the Competition Appeal Tribunal (CAT), decided in October 2021 that a class action should proceed on behalf of rail passengers who are allegedly being overcharged by the Southeastern and South Western rail franchises by not making ‘boundary fares’ sufficiently available. Southeastern and South Western could have taken last year’s decision as a prompt to do the right thing by their customers and offer compensation. Unfortunately, they sought to delay resolution of the case, and ultimately the payment of compensation, by pursuing an appeal.

Announcements Case Developments

SIGNIFICANT MILESTONE IN ESG ACTION BROUGHT AGAINST AIRBUS IN AMSTERDAM

By John Freund | July 28, 2022

The District Court in Amsterdam has delivered a significant decision in a ground-breaking ESG action brought against Airbus. The action is organised and funded by the ESG team at Woodsford.

Commercial Special Features

Key Takeaways from LFJs Special Event: How Investors Approach Litigation Finance

By John Freund | July 26, 2022

On Thursday, July 14^th, Litigation Finance Journal hosted a digital event, “How Investors Approach Litigation Finance.” The event featured a unique cross-section of investor types, including David Gallagher, Co-Head of Litigation Investing at The D.E. Shaw Group, CJ Wei, Vice President of Private Credit at Northleaf Capital, Benjamin Blum, Managing Director at Flexpoint Ford, LLC, David Demeter, Director of Investment at Davidson College, and Kendra Corbett, Partner at Cloverlay. The event was moderated by Ed Truant, Founder of Slingshot Capital.

Commercial Deals

Deminor’s Research Reports ESG Bump

By John Freund | July 21, 2022

Legal Futures profiles Deminor’s ESG insights in a new report. Deminor says that ESG legal investment has a high likelihood of becoming one of the United Kingdom’s most investable lines of business for litigation financiers.

Commercial Regulatory Issues

The Role of Superannuation Funds in Litigation Finance

By John Freund | July 20, 2022

The role of superannuation funds in litigation finance (specifically in funding class action claims) has been highlighted by industry insiders in Australia, who point to it as a benefit to the funds themselves and also an encouragement of good corporate governance. The recent example of HESTA, a super fund based in Sydney, taking part in a class action lawsuit against multiple financial service companies, has demonstrated both the appetite and the potential benefits of such engagements.

Announcements Deals

Brown Rudnick advises on £100m litigation funding partnership between North Wall Capital and PGMBM

By John Freund | July 20, 2022

International law firm Brown Rudnick has advised alternative investment firm North Wall Capital on a £100m litigation funding partnership with PGMBM, a law firm focused on environmental, social and corporate governance cases. The investment will be used by PGMBM to address the growing demand from consumers and other victims of injustice to seek recourse against corporates.

Commercial Special Features

What Lloyd v. Google Means for UK Class Actions and Litigation Funders

By John Freund | July 18, 2022

The Lloyd v. Google claim has given rise to some thought-provoking questions:

Has Google breached its duties as a data controller? If so, have class members of the ensuing collective action suffered quantifiable damages?
How exactly should “same interest” be determined in a case regarding the misuse of data?
Do individual members of a class have to demonstrate material harm in order to receive recompense?

In the following article, we will explore the answers to these and other questions that have arisen from Case UKSC 2019/0213, otherwise known as Lloyd v. Google.

Commercial Regulatory Issues

High Court Ruling Suggests Funder Liability Is Broader Than Expected

By John Freund | July 13, 2022

The extent and scope of litigation funding liability is being questioned, after a High Court ruled the funder was liable for costs predating the litigation funding agreement (LFA).

Commercial Fundraising

Soros Pumps £5MM in Litigation Finance Investment

By John Freund | July 12, 2022

The Soros Economic Development Fund has issued a £5MM investment into Aristata Capital. This brings Aristata’s total fundraise to well over £40MM. The firm has been established to protect social change projects and the environment.

Commercial Legal Innovation

Legal Dive Explores the Evolution of Legal Investment Economics

By John Freund | July 11, 2022

Researchers around the world are providing examples of litigation finance becoming an increasingly important asset class. This, as investors are on the hunt for high return opportunities with compounding portfolio effects.

Commercial Legal Innovation

Erasmus’ Litigation Investment Innovation Library

By John Freund | July 7, 2022

Erasmus Law Review hosts white papers from 10 of Europe’s top legal finance scholars. The library highlights major developments and barriers to litigation financiers.

The European Litigation Funders Association to Launch Operations

By John Freund | July 5, 2022

Omni Bridgeway, Deminor and Nivalion AG have teamed up to organize the launch of the European Litigation Funders Association (ELFA). Tasked with helping expand legal finance innovation across Europe, ELFA will represent industry best practices before international governments and legal associations.

Commercial Regulatory Issues Special Features

Federal Court of Australia approves its power to make future orders for class closure

By John Freund | June 30, 2022

The following piece was contributed by Lillian Rizio and Max Hensen of Australian law firm, Piper Alderman. The Full Federal Courts’ decision in Parkin v Boral Limited (Class Closure) [2022] FCAFC 47 (Parkin) confirms the courts’ power to issue pre-mediation (and settlement) soft class closure notices to group members. The decision hints at the (positive) appetite of the Federal Court in making future orders for class closure that facilitate a just outcome,[1] simplifies the assessment of quantum prior to settlement, and reduces an element of risk in funded litigation.

Announcements Consumer

Mustang Litigation Funding of Wayzata, Minnesota; Mustang Specialty Funding I and II; James “Jimmy” Beltz, and Kevin Cavanaugh Remove Legal Bay Lawsuit to New Jersey Federal Court

By John Freund | June 27, 2022

Legal Bay, The Lawsuit Settlement Funding Company, announced today that on June 15, 2022, its recent New Jersey State Court lawsuit filing against Mustang Legal Funding and its principals has been removed to the United States District Court for the District of New Jersey, Newark Vicinage, by the Mustang Entities, James Beltz, and Kevin Cavanaugh. The case now bears the following docket name: Legal Bay LLC v. Mustang Funding LLC, et al., No. 22-cv-3941 (ES) (JBC). The matter has been assigned to District Judge Esther Salas and Magistrate Judge James B. Clark, III.

Announcements Commercial Deals

DLA Piper launches global partnership with UNHCR

By John Freund | June 20, 2022

DLA Piper today announces a new partnership with the UN Refugee Agency (UNHCR) that will see the two organisations working collaboratively to develop innovative responses to the global refugee crisis, enhance refugee integration and advocate for impactful, systemic change. During the first three years, DLA Piper will provide pro bono support worth over $3.7m and contribute financially to the agency’s global programmes.

Announcements Commercial People Moves

Apex Litigation Finance to appoint Stephen Allinson as ‘Head of Legal’

By John Freund | June 16, 2022

Litigation funding specialists, Apex Litigation Finance have announced the appointment of Stephen Allinson, Solicitor and Licensed Insolvency Practitioner, as their new Head of Legal.

Case Developments Commercial Special Features

Funding a Credit Crunch: How Litigation Finance Has Fueled Global Actions Against Visa and Mastercard

By John Freund | June 15, 2022

Mastercard and Visa are no strangers to legal action, having endured class actions and legal challenges all over the world. Currently, a collective action funded by Bench Walk Advisors accuses the credit giant of illegally overcharging Multilateral Interchange Fees (MIFs) in the UK.

Announcements Commercial People Moves

Omni Bridgeway APAC Leadership Developments

By John Freund | June 15, 2022

Omni Bridgeway (ASX:OBL), the world’s largest legal risk finance and management team, is pleased to announce new appointments in its Asia Pacific leadership team.

Announcements Commercial

ILFA Announces Inaugural International Legal Finance Conference in New York

By John Freund | June 14, 2022

The International Legal Finance Association (ILFA) today announced it will host its first annual International Legal Finance Conference on Monday, October 24, 2022, at the prestigious Morgan Library in New York City.

Case Developments Commercial

Therium Funds Multi-Billion Pound Action Alleging Truck Cartel Price Collusion

By John Freund | June 9, 2022

Six producers of big rigs have allegedly conspired in a 14-year scheme to defraud government regulators over emissions mandates. The Competition Appeal Tribunal has approved a £2B claim marking a historic first for United Kingdom collective actions. The Road Haulage Association (RHA) is representing an estimated 18,000 claimants as the beneficiaries of the hopeful award.

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