Trending Now
  • How AI-Powered Screening and Monitoring Reduce Duration Risk
  • Smarter Intake for Litigation Finance Firms
Commercial Regulatory Issues

Georgia Senate Unanimously Approves Governor’s Litigation Funding Bill

By Harry Moran |
March 3, 2025

Georgia Senate Unanimously Approves Governor’s Litigation Funding Bill

As LFJ reported last week, momentum continues to build behind state-level legislative proposals that seek to impose new rules governing the use of third-party litigation funding in the U.S. 

Reporting by the AP covers a new development in the Georgia state legislature, where the Senate has unanimously passed the second part of Gov. Brian Kemp’s legislative package aimed at tort reform and third-party litigation funding. Senate Bill 69, which passed the Senate last Thursday with 52 Yea votes, amends state law to include new provisions governing the involvement of litigation funders.

SB 69 requires third-party funders register with Georgia’s Department of Banking and Finance, as well as prohibiting any foreign individuals or organisation from funding litigation in the state. The bill also sets out disclosure requirements for cases where a litigation funding agreement is present and puts in place restrictions on a funder’s ability to control the litigation process.

Senate President Pro Tem John Kennedy, a sponsor of the bill, said that SB 69  “combats the growing foreign influence” in Georgia lawsuits, and argued that the new rules contained within the bill act as a “consumer protection measure”. The Georgia Trial Lawyers Association, which opposes these attempts at reform, stated that there is “still work to be done to ensure SB 69 fairly addresses its intended purpose”. 

SB 69 will now join SB 68, the part of Gov. Kemp’s package that primarily deals with tort reform, to be debated in the House and scrutinised by a bi-partisan subcommittee convened by House Rules Committee Chairman Butch Parrish. 

The full text and status of Senate Bill 69 can be accessed on the Georgia General Assembly website.

About the author

Harry Moran

Harry Moran

Commercial

View All
Commercial

Burford Capital Says $700 Million Cash Position Keeps Growth Plans on Track After YPF Setback

By John Freund |

Burford Capital issued a follow-up statement on March 30 addressing the financial fallout from the Second Circuit's reversal of the $16.1 billion judgment against Argentina in the long-running YPF nationalization dispute.

As reported by PR Newswire, the litigation funder emphasized that the ruling has no cash impact on its operations, pointing to more than $700 million in cash, cash equivalents, and marketable securities on hand. The company said its diversified portfolio routinely delivers cash proceeds independent of the YPF asset and reaffirmed plans to double its portfolio by 2030 without additional borrowing.

Burford expects a substantial GAAP write-down of the YPF asset as of March 31, with full details to be disclosed in its first-quarter results in the first half of May. Management noted the write-down is a non-cash accounting adjustment that does not affect operational cash flow.

Looking ahead, Burford signaled it may pursue arbitration through the World Bank's International Centre for Settlement of Investment Disputes under bilateral investment treaties. The company argued Argentina breached investment protections during the 2012 expropriation, though it acknowledged any ICSID proceeding would be a multi-year process.

The statement comes days after Burford shares cratered more than 45% following the Second Circuit's March 27 decision, which found Argentina's nationalization of YPF was governed by public law rather than private corporate bylaws, rendering the breach-of-contract claims non-cognizable.

Commercial

Cadence Minerals Secures Litigation Funding for Arbitration Against Mexico Over Lithium Nationalization

By John Freund |

Cadence Minerals has obtained third-party litigation funding to pursue an international arbitration claim against Mexico following the cancellation of its mining concessions during the country's lithium sector nationalization.

As reported by Investing.com via bilaterals.org, LCM Funding SG Pty Ltd has approved financing for the arbitration on a non-recourse basis, meaning Cadence and its subsidiary REM Mexico Limited have no obligation to repay if the claims are unsuccessful. The funding arrangement is designed to allow the company to pursue the case while preserving its balance sheet flexibility.

Cadence and REM Mexico allege that Mexico violated the UK-Mexico bilateral investment treaty by canceling concessions tied to the Sonora Lithium Project. The claims include unlawful expropriation and failure to provide fair and equitable treatment to foreign investors.

CEO Kiran Morzaria said the funding "materially strengthens our ability to pursue the arbitration in an appropriately resourced manner." The company indicated it remains open to negotiated settlement discussions with the Mexican government.

The case highlights the growing role of litigation funding in investor-state dispute settlement, where resource companies increasingly turn to third-party funders to pursue treaty-based claims against sovereign governments over nationalization and regulatory actions.

Commercial

JPMorgan Asset Arm Enters Litigation Finance With Mass Tort Fee Investments

By John Freund |

JPMorgan Asset Management has made its entry into the litigation finance sector by advancing funds to two major mass tort law firms, marking a significant milestone as one of the world's largest financial institutions moves into the legal funding space.

As reported by Bloomberg Law, the investments were made through JPMorgan's Lynstone Special Situations Fund II, a $2.4 billion fund closed in June 2022. The deals involve post-settlement arrangements with Seeger Weiss and Simmons Hanly Conroy, two prominent plaintiffs' firms.

The structure allows law firms to receive accelerated payments for attorneys' fees that have already been earned but not yet collected. Investors profit when final fee payments exceed their initial advances, with returns typically falling in the low double digits. Because the deals are completed after settlements have been reached, they carry significantly less risk than traditional litigation funding tied to case outcomes.

Seeger Weiss serves as lead counsel in Ozempic and Depo-Provera litigation and played a key role in opioid settlements. Simmons Hanly Conroy received 11.4% of a $2.14 billion opioid litigation fee fund and led Norfolk Southern derailment litigation.

JPMorgan's move follows a broader trend of institutional investors entering litigation finance. Fortress Investment Group, BlackRock, and Davidson Kempner Capital Management are among the major firms increasingly active in legal asset investments, drawn by returns that are uncorrelated with equity markets. Commercial litigation funders deployed $2.8 billion in new commitments last year across 346 deals.