Litigation funders provide non-recourse funding to litigants, in order to enable them to pursue a meritorious case they couldn’t otherwise afford. It’s a straightforward process with a net societal gain of increasing access to justice. So why aren’t more people making use of it?
Delta Capital Partners Management LLC, a global private equity firm specializing in litigation and legal finance, is pleased to announce a new senior executive hire and promotions within the firm. Todd Schneider has joined Delta as Chief Financial Officer and Chief Compliance Officer; and Gabriel Olearnik and Daniel Bond have been promoted to Director of Investor Relations and Director of Underwriting, respectively.
This past Tuesday, Litigation Finance Journal hosted a special digital event, “Investor Insights into Consumer Legal Funding.” The panel discussion featured a trio of institutional investors, including Ben Kaplan (BK), co-founder of C9 Partners, Don Plotsky (DP), co-founder of Uinta Investments, and Michael Morris (MM), Managing Director of Northleaf Capital. Dan Avnir (DA), Managing Director of Bryant Park Capital moderated the discussion.
Counsel Financial will continue its long-standing commitment as the headline sponsor “Business of Law” program during the Mass Torts Made Perfect™ Virtual Vegas seminar (MTMP) this week. The three-day virtual conference will offer continuing education, informative sessions on the latest litigations from leading attorneys and networking opportunities.
To current and past holders of the CHF 150 million 3.25% 2017-2021 bonds Issued by FF Group Finance Luxembourg II SA Guaranteed by Folli Follie ISIN CH0385518052. This offer for litigation funding does not purport to be complete and is qualified in its entirety by reference to the terms of a Claims Purchase Agreement, a Claims Assignment Agreement and a Litigation Funding Agreement.
Tribeca Capital Group, LLC, one of the nation’s leading litigation loan companies, has announced a drive to help support the financial needs of whistleblowers who bring actions to expose fraudulent corporate activities and other wrongdoing.
Litigation Finance Journal has announced an upcoming roundtable discussion on third-party legal funding. A panel of institutional investors will discuss their thoughts on Consumer Legal Funding as an asset class. This special event will be held April 13 from 11:30 am-12:30 pm EST. Tickets can be found here.
Mill City Ventures III, Ltd. (“Mill City”)(OTCQB:MCVT) announced today the total financings for the quarter were nearly $8M. The amount includes a previously announced loans of approximately $2M.
USClaims is proud to announce that it is now a top sponsor of the New York State Trial Lawyers Association (NYSTLA). With its $100,000 commitment at the Skyline Partner level, USClaims joins with 5-Star Legal Funding to support one of the strongest trial lawyer associations in the country. This momentous partnership furthers USClaims’ mission of making Litigation Funding Simplified ™.
Augusta Ventures, the largest litigation and dispute funding institution in the UK by volume of cases, has provided financing to help the Consumers’ Association (known as Which?) launch an opt-out collective claim, litigated by Hausfeld, against Qualcomm, Inc. for over £480 million, on behalf of a class of around 29 million UK consumers.
Mill City Ventures III, Ltd. (“Mill City” or the “Company”) (OTCQB: MCVT), a non-bank lender and specialty finance company, announced today its revenue and net income for the year ended December 31, 2020 was a record from 13 years in business.
Kerberos Capital Management was selected as the #3 Global Newcomer of the Year for 2020 among private debt funds on a worldwide basis by Private Debt Investor, a global independent publication based in London covering the private debt and private equity industries.
Siltstone Capital, LLC (“Siltstone”), a Houston, Texas based investment and advisory firm, announced the successful closing of Siltstone Capital Litigation Fund, L.P. (the “Fund”). Siltstone, through its affiliate Litigo Financial, LLC (“Litigo”), will invest in commercial litigation across the United States, and welcomes the opportunity to provide capital to litigants to pursue their claims fully. The Fund will focus on commercial litigation, with a unique focus on energy and patent litigation.
Deminor Recovery Services announces the closing of a financing round consisting of equity, senior bank loans and mezzanine finance for an amount up to €40 million to support its rapidly growing litigation funding activities globally.
Louise Trayhurn, Executive Director of Legis Finance, sat down with LFJ to discuss a broad range of industry topics, including Legis’ bespoke approach to managing client relationships, the various funding and insurance products her company offers, the growing trend of GCs and CFOs extracting more value out of their legal assets, and what trends she predicts for the future of the industry.
Exton Advisors, a leading financial advisory firm in litigation, is launching a unique range of ‘special situations’ services designed to help companies look at their disputes in an entirely new way. The move is in response to the increasing economic uncertainty brought about by the global pandemic and sees the firm creating a range of advisory service lines designed to help corporates and their legal teams find the right funding products to support their litigation and unlock potential working capital at a critical time.
Kroll Bond Rating Agency (KBRA) assigns a preliminary rating to one class of notes issued by Oasis 2021-1 LLC (“Oasis 2021-1”). The notes are newly issued asset backed securities (ABS) backed by litigation finance receivables. Oasis 2021-1 represents the third ABS collateralized by litigation finance receivables to be sponsored by Oasis Intermediate Holdco, LLC (“Oasis”) and the first to include Oasis’ MedPort-branded (“MedPort”) medical lien receivables.
Burford Capital Limited, the leading global finance and asset management firm focused on law, today released a business update on its 2020 activities. All figures in this disclosure are unaudited. Certain definitions are provided below; additional definitions, reconciliations and information are set out in Burford’s 2020 Interim Report, which is available on our website at the following address: www.burfordcapital.com/shareholders. As previously disclosed, Burford will announce full preliminary results for the year ended December 31, 2020 on March 24, 2021 at 08.00am EDT / 12.00pm GMT / 1.00pm CET.
GLS Capital operates one of the world’s largest private investment firms focused on litigation finance. The GLS team is comprised of investment professionals that provide financial solutions for complex legal matters, specializing in commercial litigation, arbitration, law firm financing and patent infringement litigation, including Hatch-Waxman litigation.
The following article is part of an ongoing column titled ‘Investor Insights.’
Brought to you by Ed Truant, founder and content manager of Slingshot Capital, ‘Investor Insights’ will provide thoughtful and engaging perspectives on all aspects of investing in litigation finance.
New investment fund Sandfield Capital has launched this week to tackle an increasingly challenging area of litigation that remains poorly served by the market. Steven D’Ambrosio, a former Finance Director at Close Brothers Premium Finance, has conceived and built a number of highly-successful ventures in the financial and legal sectors and remains extremely passionate about creating and tailoring funding solutions. Now, with Sandfield Capital, he hopes to enable real change in the sector for the good of those struggling to engage with legal services.
The following article was contributed by Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC).
The classification of Consumer Legal Funding as a loan is more than mere semantics. Consumer Legal Funding is the purchase of an asset; that being a portion of the proceeds of the consumer’s legal claim. This form of investment allows the consumer to access much needed support in order to obtain the financial assistance they need while their claim is making its way through the system.
You may ask yourself, so why does this matter?
California’s Closing the Justice Gap Working Group is exploring possibilities for amendments to the Rules of Professional Conduct as part of a move to boost access to justice.
The following article was contributed by John Hanley and Douglas Schneller of Rimon Law, P.C.
An issue that keeps some litigation funders up at night concerns the possibility of a claimant filing for bankruptcy after receiving funding and before their underlying case is resolved. Proceeds from the case may become property of the bankruptcy estate and made available to the transferor’s creditors. A carefully drafted litigation funding agreement (“LFA”) can increase the likelihood that the right to receive a portion of litigation proceeds is legally isolated (like the island in the picture above) and beyond the reach of the transferor’s creditors or a bankruptcy trustee.[1]
On a recent episode of the Litigation Finance Podcast, Grant Farrar of Arran Capital discussed his firm’s value proposition as the only litigation funder focused solely on public sector financing. Grant explains why public sector funding merits its own categorization, what the sticking points are in convincing politicians and others of litigation funding’s value, and what his expectations are for future growth in this rapidly-evolving space.
The number of litigation finance providers in the United States, their assets under management (AUM), and the dollars they committed to new financing deals, all grew over the last year, according to a new report from litigation finance advisory firm, Westfleet Advisors. According to The Westfleet Insider: 2020 Litigation Finance Market Report, between June 2019 and June 2020, 46 active funders managed a combined $11.3 billion in assets allocated to US commercial litigation investments, an 18% increase from the previous year. Despite the onset of a global pandemic and resulting disruption to the justice system, the total dollars committed to new investments by funders also grew by 6% – to $2.47 billion.
An upcoming digital conference hosted by LFJ promises to uncover how LPs and institutional investors think about their Litigation Finance investments. The February 4th conference begins at 11 am EST, and will feature a panel discussion, Q&A with attendees, and a keynote speech from Charles Agee of Westfleet Advisors.
