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CrosstownHelp™: BridgePoint Financial announces Expropriation and Business-Loss Consulting for those affected by delayed LRT project

TORONTO, Aug. 20, 2020 /CNW/ – In response to the more than 3,000 small businesses negatively affected by the Eglinton Crosstown LRT project, BridgePoint Financial has launched CrosstownHelpTM, an expropriation and business-loss consulting and financing program to help recoup losses and restore financial and business stability to those impacted by the delayed infrastructure project.

BridgePoint Financial provides businesses with access to legal representation, expert advice, and financing that business owners can use for working capital, relocation costs, or to pay for the costs of litigation allowing them to withstand the negative financial effects of the government’s actions.

“BridgePoint Financial launched CrosstownHelpTM to educate businesses and provide them with the guidance and financial support they need to pursue expropriation claims and receive the fair compensation they are entitled to,” said John Rossos, Co-founder and Principal of BridgePoint Financial Services Inc. “The cost of expropriation is significant, and while the Eglinton LRT is a much-needed infrastructure project, hundreds of businesses have received substantially less than fair value to cover the loss and interruption of business.”

Unfortunately, the Eglinton Crosstown LRT project, as with many road construction projects, has come at a big cost to business owners who often have to borrow, relocate or close down altogether. The Ontario Expropriation Act provides that businesses will receive fair compensation for business interruption, relocation and ancillary costs, and loss of business and goodwill. To date, $6.6 million has been given to Business Improvement Areas for marketing, parking, and maintenance support, while the Province of Ontario recently announced $3 million to support the areas impacted by the construction.

“For small business owners operating along Eglinton Avenue, the transit project is a threat to their livelihood,” added Rossos. “In many cases, these business owners feel intimidated and aren’t aware of their options or that they have any.  BridgePoint’s goal is to give businesses the best opportunity to level the playing field to advance their claims.”

BridgePoint’s consulting services provide access to the best expropriation expertise across Canada and allow business owners to hire top lawyers and experts without being forced to settle for less due to cash flow related issues, assuming full recoverability of costs from the government.

BridgePoint will also provide businesses with financing to assist with:

  • Costs associated with loss of revenue including legal and expert fees or business relocation;
  • Costs due to business interruption including working capital to stabilize the business, preserve goodwill and cover damages; and
  • Access to the best legal representation and expert advice including experts in expropriation and funding to pay for those costs.

The Eglinton Crosstown LRT is one of the largest transit projects in Canada and, once completed, will include 25 stops along a 19km corridor across Eglinton Avenue in Toronto. Since construction began in 2011, more than 140 businesses along Eglinton Avenue West have closed. Recently, the City of Toronto announced that construction will continue well into 2022.

About BridgePoint Financial

BridgePoint Financial is Canada’s leading provider of specialized financing solutions for the Canadian legal services market, addressing the needs of plaintiffs, lawyers, and the experts involved in advancing legal claims. BridgePoint’s goal is to level the litigation playing field and to protect its clients’ rights to full and fair access to justice. For more information about the expropriation consulting and financing services available from BridgePoint Financial, visit crosstownhelp.com.

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Announcements Consumer

Golden Pear Upsizes Corporate Note to $78.7M Amid Growth Plans

By John Freund |

Golden Pear Funding has extended and upsized its investment-grade corporate note to $78.7 million, further bolstering the firm's capacity to serve the expanding litigation finance sector. The New York-based funder, a national leader in both pre-settlement and medical receivables financing, said the proceeds will support working capital and fuel strategic growth initiatives.

A press release from Golden Pear outlines how the capital raise reflects continued investor confidence in the firm’s business model. CEO Gary Amos noted that the infusion is critical as Golden Pear seeks to scale alongside the “rapidly expanding litigation finance market.” CFO Daniel Amsellem added that the new funding aligns with the company’s capital allocation strategy, aimed at optimizing operational efficiency and executing strategic projects.

Brean Capital, LLC acted as the exclusive financial advisor and sole placement agent on the transaction.

Founded in 2008, Golden Pear has funded more than $1.1 billion to over 87,000 clients and remains one of the largest specialty finance companies in the U.S. Its business model spans legal case funding and medical receivables purchasing, with backing from a network of private equity partners that provide institutional support for continued expansion.

Announcements Regulatory Issues

LionFish Updates Model Documents in Response to CJC Report

By John Freund |

LionFish Litigation Finance Ltd has released a new suite of model litigation funding documents, updating its original set from February 2021. The revision comes on the heels of the Civil Justice Council's (CJC) Final Report on Litigation Funding, issued on 2 June 2025, which calls for a regulatory structure informed by best practices, including key principles published by the European Law Institute (ELI) in October 2024.

A LionFish press release details that the updated suite incorporates several of the ELI Principles (notably 4-12) and broader CJC recommendations, except where doing so would require legislative or procedural reform. LionFish's goal, according to Managing Director Tets Ishikawa, is not to dictate market norms but to foster industry-wide standardisation and efficiency. This proactive move is also intended to spark further collaboration between funders, insurers, and legal practitioners to develop trade practices akin to those in mature financial markets, such as those promoted by the Loan Market Association and the International Swaps and Derivatives Association.

The new suite includes three core documents: a litigation funding agreement, a priorities deed to define proceeds distribution, and an assignment deed for insurance benefits. Notably, LionFish has also added documentation for co-investment arrangements, reflecting a growing trend in syndicated funding deals. The funder has already closed seven such transactions.

Managing Director Tanya Lansky emphasised that while litigation funding remains complex, making documentation public enhances transparency and facilitates quicker deal closings—an essential factor for sustaining market growth.

As litigation finance continues to mature, this move by LionFish highlights a shift toward professionalisation and standardisation. With regulators increasingly focused on transparency and fairness, such initiatives may set a de facto benchmark for others in the industry. The question remains: will other funders follow suit, or will regulatory mandates be needed to compel alignment?

Announcements Commercial Legal Innovation

Backlit Capital Solutions Launches Legal Finance Consultancy

By John Freund |

Backlit Capital Solutions has announced the launch of its full-service legal finance consultancy. The firm aims to provide comprehensive funding solutions for legal claims, offering services that include litigation finance, arbitration funding, and judgment enforcement strategies.

An article in PR Newswire states that Backlit Capital Solutions is positioning itself as a comprehensive provider in the legal finance sector, aiming to serve a diverse clientele that includes claimants, law firms, lenders, and investors. The firm's service offerings encompass litigation finance, arbitration funding, and judgment enforcement strategies, indicating a broad approach to legal funding solutions.

The launch of Backlit Capital Solutions reflects a growing trend in the legal finance industry, where firms are expanding their services to address the multifaceted needs of legal claimants and their representatives. By offering a suite of services under one roof, Backlit Capital Solutions aims to streamline the funding process and provide tailored solutions to its clients.

As the legal finance landscape continues to evolve, the entry of firms like Backlit Capital Solutions underscores the increasing demand for specialized financial services in the legal sector. Their comprehensive approach may set a new standard for how legal finance consultancies operate, potentially influencing the strategies of existing and emerging players in the market.