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Litigation Finance Journal’s Quarterly Industry Roundup

By John Freund |
Litigation Finance News

It’s clear by now that 2020 has been a year like no other. Industry growth and the impact of COVID make this an ideal time to catch up on all of the relevant issues impacting the commercial Litigation Finance industry. With that in mind, LFJ is hosting a panel discussion that will cover a wide range of topics, including the Burford/Muddy Waters saga, the IMF/Omni merger, the rise in IP litigation, hedge fund interest in the funding sector, and much more. 

The panel will be moderated by Slingshot Capital founder Ed Truant. Truant is an investor with a unique perspective on commercial litigation finance, backed up by years of experience in the field.

The panel will feature a collection of industry experts: 

Molly Pease is the managing director of Curiam Capital, and a former litigator whose expertise includes insurance, antitrust, and securities. She has also been an Executive Director and has worked as General Counsel—providing her a varied and nuanced perspective on a vast array of legal subjects.

Mick Smith is the founder of Almatura, and co-founded Calunius Capital in 2006. He has studied Mathematics and Law at Cambridge, and is pursuing a Masters in Data Science.

Robert Hannah, co-founder of Augusta Ventures, spent 20 years managing hedge funds before becoming acting Chief Investment Officer for Mako Investment Managers—an organization he co-founded. Hannah has an LLB and an MBA from Cranfield School of Management. He is currently the Managing Director of the London office.

William Farrell Jr. is the managing director and co-founder of private investment company Longford Capital. His current duties include underwriting, sourcing, and monitoring investments. He has decades of litigation experience and as a government prosecutor. Farrell has also served as a partner in the commercial litigation departments of two different firms.

The panel is audio-only and will be held Thursday, July 30th at 1 pm EST. It will feature a 45-minute panel discussion that will be followed by a question and answer period with attendees. 

For more information and to purchase tickets, please visit this link.

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John Freund

John Freund

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Case Developments Commercial

Omni Bridgeway Accuses Apple of “Blatant Attempt to Arbitrage the Courts”

By Harry Moran |

As LFJ recently covered, the world of patent litigation funding has yet again ignited a high-profile rift between a global corporation and a litigation funder, with Apple looking to compel Omni Bridgeway to answer its subpoena. This ongoing dispute shows no signs of cooling off as the funder has now filed a stout opposition to Apple’s request for the court to compel compliance with the subpoena, which Omni Bridgeway says “fails on all counts.”

Reporting by Bloomberg Law covers the latest developments in the fight between Apple and Omni Bridgeway over the former’s attempt to subpoena the funder for information around its supposed involvement in a patent infringement case. On Monday, Omni Bridgeway filed its opposition to the Apple’s motion to compel compliance with the subpoena, in which it argued that rather trying to resolve the two parties’ differences over discovery, “Apple has rushed to compel non-party Omni to engage  in  burdensome  discovery  efforts  based  on  Apple’s  unfounded  speculation  that Omni “should have” or “likely” engaged in actions Apple deems relevant.”

In a filing that spans over 20 pages, Omni Bridgeway argued that “in the seven months since it issued a subpoena to Omni, Apple has refused to explain the relevance of the discovery it seeks.” The funder accused Apple of “a blatant attempt to arbitrage the courts,  avoid  addressing  the  question  of  relevance  before  the  trial  court,  and  apply  the  actual  facts  and  binding  authority  of  the underlying litigation.”

The fiery response to Apple’s motion included claims that the company’s attempts were “futile” and that it had “cherry-picked quotes from factually and legally distinct cases” to support its arguments. 

Omni Bridgeway’s full opposition to the motion to compel can be read here.

Announcements Commercial People Moves

Dr. Stephan Klebes Joins Deminor’s Hamburg Team To Expand Its Leading Position In The German Litigation Funding Market

By Harry Moran |

Deminor welcomes Dr. Stephan Klebes to the Hamburg team to expand its leading position in the German litigation funding market

Dr. Stephan Klebes adds experience and expertise in complex commercial disputes, investment recovery cases and antitrust actions to the Deminor team - especially in the fields of arbitration and capital markets law.

Deminor is pleased to announce the appointment of Dr. Stephan Klebes as Senior Legal Counsel. With the arrival of Stephan, a further experienced litigator joins the established team of Dr. Malte Stübinger (General Counsel Germany), Patrick Rode (Senior Legal Counsel) and Tim Willing (Senior Legal Counsel).

Dr. Stübinger commented on Stephan's arrival:

“With Stephan, we are gaining a highly qualified colleague with a broad legal background who will actively support our further growth in Germany and brings the Deminor mindset with him. An excellent addition to our team that emphasises our strong commitment to the German market.”

Stephan Klebes was admitted to the German Bar in 2021 and has broad experience in litigating and advising on cross-border disputes before international arbitral tribunals and state courts, with a particular focus on general commercial disputes and investment recovery cases. Prior to joining Deminor, he was an associate with the specialised litigation law firm Quinn Emmanuel where he represented companies in various types of arbitration proceedings, as well as complex investment recovery claims before state courts.

Erik Bomans, Chief Executive Officer, added:

“I wish to echo my colleagues' sentiments by congratulating Stephan on joining Deminor’s growing Hamburg team. Stephan’s wide-ranging legal expertise is a welcome arrival, and I am confident they will complement General Counsel Dr Malte Stübinger and his fellow Senior Legal Counsels. I look forward to his contribution to Deminor and our clients as we strengthen our position as a Chambers & Partners Band 1 Ranked provider of litigation funding solutions in Germany.”

Stephan Klebes studied law and economics at the University of Mannheim (LL.B., First State Examination) and the University of Cape Town, South Africa (LL.M. in Alternative Dispute Resolution). He then obtained his doctorate at the University of Osnabrück at the chair of Prof Dr Mary-Rose McGuire on an arbitration-related topic and completed his clerkship at the Higher Regional Court of Celle.

On joining Deminor, Stephan comments:

“I am delighted to be working with Deminor to further advance the field of litigation funding in Germany and Europe. The possibility of third-party financing of litigation and arbitration still has a lot of potential. Deminor will certainly be able to further expand its leading role in the German market on the basis of its strongly value-based approach. It is a great pleasure for me to be able to contribute to this mission.”

Dr. Klebes was recognised by Best Lawyers in the category "Ones to Watch 2024" in the field of Arbitration and Mediation.

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Commercial Fundraising

FinLegal Announces £2M in Funding from Northern Powerhouse Investment Fund II

By Harry Moran |

An article in Business Live covers the announcement from Sheffield-based FinLegal that it has raised £2 million in funding from the Northern Powerhouse Investment Fund II (NPIF II). The legal technology company offers a platform that can be used for the class actions or high volume small claims management, utilising automation and AI to increase efficiency and reduce costs. FinLegal plans to use the new investment to expand its operations and double its workforce.

The funding from NPIF II is a result of the fund’s mission to help small and medium sized businesses in the North of England scale up their operations, with the £660m fund providing loans that range between £25,000 and £2 million, or equity investments of up to £5 million. FinLegal specifically received funds that are managed in part by NPIF II and in part by Mercia Asset Management.

Steven Shinn, founder of FinLegal, provided the following comment on the announcement:

“The claims market is ripe for a platform like ours. Many claims are run on a no-win no-fee basis and increasingly there are fee caps, so operating costs are critical. Our solution reduces costs, automates but also improves client care and makes it possible to manage claims at a scale which might otherwise not be viable. It has already been adopted by the some of the leading claims firms and this investment will enable us to accelerate our international growth.”

Chris Borrett of Mercia Ventures said: 

“FinLegal represents a new breed of AI-enabled LegalTech companies. The business has rapidly cornered a niche within the mass volume litigation market and is driving substantial productivity gains for major global law firms. Steven and his team have acquired clients across the UK, Australia and in the USA and set their sights on becoming one of the leading litigation platforms globally.”

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