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Announcements Commercial

Frances Coats joins Augusta as General Counsel

London 10th October 2019, Augusta today announces the appointment of Frances Coats as General Counsel, based in London.

Frances joins from diversified insurance business The Ardonagh Group, where, as Chief Counsel, she managed the Corporate and Commercial legal needs of the group. Coats was named as Legal 500 In-House Insurance Individual of the Year 2019, Legal Business’ Rising Star In-House Counsel of the Year 2019 and was listed in The Lawyer’s Hot 100 2019.

Frances’s recruitment is a further addition to Augusta’s management group following the arrivals of Proskauer’s Director of Professional Resources Polly Bahl as Chief Operating Officer (COO) and FTI Consulting Managing Director Leor Franks as Chief Marketing Officer (CMO). These additions reflect Augusta’s continued growth and investment in professional functions to support the increasing demand for dispute and litigation funding.

Commenting on the appointment, Louis Young, Managing Director at Augusta, said: “We’re pleased to welcome Frances to Augusta. With her deep experience of financial services in-house legal management, Frances will play an important role in advising on the next phase of our growth”.

Frances Coats commented: “I’m delighted to be joining leading litigation funder Augusta. As the business continues to grow, entering new markets and forming strong strategic client relationships, I’m looking forward to supporting Augusta’s management team in the UK and internationally”.

About Augusta:

– Established in 2013, Augusta’s scale enables us to make decisions in market-leading timeframes and fund cases of any size.

– Augusta is organised into a series of specialist practice groups: Arbitration, Class Action, Competition, Consumer, Intellectual Property and Litigation, and sectors including Financial Services and Construction & Energy.

– By the end of H12019, Augusta had funded 213 claims with a market-leading win ratio of over 80%.

– Augusta has offices in London, Sydney, Melbourne and Toronto.

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Announcements Consumer

Legal-Bay Lawsuit Funder Launches Legal Funding Calculator for Consumers

By Harry Moran and 4 others |

Legal Bay Presettlement Funding announces their new funding calculator for customers to compare pricing models of lawsuit loans between funding firms. It should be noted that Legal Bay doesn't charge compounding interest like many other legal funding companies, keeping payback costs lower right from the start. As one of the best lawsuit loan companies in the industry, Legal Bay ensures flat pricing, transparent contracts, and a helpful, knowledgeable staff to walk you through every step of the lawsuit loan funding process.

  1. Legal Bay is a direct funder—not a legal funding broker—which is the first distinction customers should make when researching legal funding options. Here's why:
  2. Being a direct funder allows Legal Bay to expedite cases faster, normally within 24-48 hours after applying, once all documents have been received.
  3. Being a direct funder allows Legal Bay to provide lawsuit loans with cap out provisions for cases that qualify without additional broker fees.
  4. Compound rates can grow substantially over the course of your case settlement funding, while flat interest stays the same at about 20% percent every 6 months.
  5. Legal Bay's lawsuit settlement programs are non-recourse which means the client will not have to pay back the loan if the case does not settle.

Chris Janish, CEO of Legal-Bay, commented, "Our funding calculator gives consumers an invaluable tool to compare payback costs. Plaintiffs will see that our direct funder platform means you deal directly with our staff and underwriters—not a broker. Our direct funding model allows for the fastest approvals, reduced rates, and no added broker fees, keeping your costs low. Legal-Bay's flat pricing—as opposed to compounding interest—and our best price guarantee ensures the lowest rates in the litigation finance industry. On large funding amounts, consumers should be aware of payback costs. The savings of Legal-Bay's flat-rate pricing versus contracts with compounding interest can be substantial."

Legal-Bay's funding model is designed to put more money back in the plaintiff's pocket at settlement. If you or a loved one need an immediate lawsuit loan in advance of your impending lawsuit settlement, please apply online HERE or call toll free at 877.571.0405 where agents are standing by.

Legal-Bay assists plaintiffs in all types of lawsuits, including commercial and mass tort litigation, personal injury cases, slip and fall accidents, property damage, car accidents, medical malpractice, wildfires, and many more. If you're looking for the lowest rates in legal funding, legal funding companies without broker, flat rate pricing or simple pricing legal funding companies, easy to use funding calculator, calculator for lawsuit loans, then Legal Bay is here to help.

Their loan for settlement funding programs are designed to provide immediate cash in advance of a plaintiff's anticipated monetary award. While it's common to refer to these legal funding requests as settlement loans, loans for settlements, law suit loans, loans for lawsuits, etc., the "lawsuit loan" funds are, in fact, non-recourse. That means there's no risk when it comes to loans in lawsuit settlements because there is no obligation to repay the money if the recipient loses their case. Therefore, terms like settlement loan, loans for lawsuit, loans on settlement, or lawsuit loan funds don't necessarily apply, as the "loan on lawsuit" isn't really a loan at all, but rather a stress-free cash advance.

For more information about lawsuit loans, please visit us HERE or call toll free at 877.571.0405 where a skilled agent can answer any questions you may have.

Announcements Commercial

LCM Releases Interim Results for the Half Year ended 31 December 2024

By Harry Moran and 4 others |

Litigation Capital Management Limited (LCM) has released the following announcement detailing its interim results for the half year ended 31 December 2024:

Highlights

  • Seven realisations in period generating A$51m of revenue
  • Net realised gains of A$37.4m (HY24: A$19.6m), with concluded investments generating a 3.67x multiple of cash invested (MOIC)
  • Total income of A$4.7m (HY24: A$21.6m) due to A$32m negative fair value movement driven by fair value write-offs on concluded investments 
  • Loss after tax for the period of A$8.4m (HY24: profit A$7.3m)
  • Net assets of A$181.8m (HY24: A$188.9m)
  • Book value per share of 86.3 pence (FY24: 94.4 pence)
  • Total new commitments of A$34m added in the period (HY24: A$90m)

Outlook

  • Fund management momentum accelerating, with Fund III on track for launch before 30 June 2025
  • New commitments expected to rebound in the second half of FY25.

Commenting on the results, Patrick Moloney, CEO of Litigation Capital Management, said: “The first half of the year reflected the inherent volatility of litigation finance. While we secured significant wins in two arbitration cases, we also faced setbacks with two class action losses at trial, which are now subject to appeal. Our transition to a fund management model continues to gain momentum, and as we scale, we expect to reduce financial unpredictability. We remain disciplined in capital allocation, focused on generating strong long-term returns for our investors and shareholders.”

LCM will be hosting a webinar for investors today at 11.00 a.m. The presentation is open to all existing and potential shareholders. If you would like to attend this presentation, please register using the following link:

The full release from LCM, including detailed financial breakdowns and the Chief Executive’s full statement, can be read here.

Announcements Commercial Fundraising

Tenadio Corp Completes $60 Million in Financing for Patent Litigation Program

By Harry Moran and 4 others |

Tenadio Corp, a consulting firm specializing in advising patent owners and inventors, announced it has completed an additional $60 million in financing for the Patent Capital Funding Program (“PCF”), a litigation finance program established by Tenadio’s founding principal, Michael Ciuffo. 

Waterford Capital, Inc., a Dallas, Texas based broker-dealer, was the sole placement agent for the transaction, which was privately placed with institutional investors. 

“The PCF Program is off to a great start for 2025. We are excited to have added new partners and participants in this round of funding and are very encouraged with recent events in patent litigation that will further strengthen our clients’ positions in defending the value in their intellectual property rights,” said Michael Ciuffo. 

“The Patent Capital Funding Program continues to be a reliable funding source for patent owners, having raised approximately $315 million in patent infringement litigation financing to date. We are so grateful for the collaboration of everyone involved, which is a key to the Program’s success, and we look forward to continuing its expansion,” said Dave Piotrowski, Managing Director of Waterford Capital. 

About Tenadio Corp

Tenadio Corp utilizes decades of experience in structured finance and litigation funding to develop optimal funding structures for patent holders and infringement litigation. Tenadio works with its advisors and partners to offer a full platform of patent litigation services, including patent valuation, monetization, funding options, and lead counsel selection. Tenadio provides a thorough evaluation of each patent infringement case, creating a structure that provides an attractive investment opportunity while simultaneously monetizing proceeds associated with future infringement cases. 

About Waterford Capital

Waterford Capital, Inc. is a leading arranger of litigation finance and other structured finance and asset securitization transactions. The firm arranges capital for clients in connection with patent infringement financing, asset-backed credit facilities, private placements of asset-backed securities, and whole loan sale programs. Waterford Capital is a registered broker-dealer and member FINRA/SIPC.