M&A Dispute Volume Is Rising in Climate of Economic Uncertainty and Geopolitical Upheaval, BRG’s 2022 M&A Disputes Report Finds

M&A Dispute Volume Is Rising in Climate of Economic Uncertainty and Geopolitical Upheaval, BRG’s 2022 M&A Disputes Report Finds

Mergers and acquisitions disputes accelerated in 2022 even as deal activity slowed, with the darkening economic outlook expected to fuel further disagreements over deals in the coming year, according to the 2022 M&A Disputes Report from Berkeley Research Group (BRG) released today.

Now in its third year, the report examines the global M&A disputes landscape and features qualitative and quantitative research from some of the world’s leading deal and disputes experts. The latest survey found that macroeconomic concerns are surpassing COVID-19 disruptions as primary dispute catalysts, a trend that dealmakers, lawyers and private equity executives expect to extend into 2023.

Continuing last year’s global scope, the 2022 report examines M&A dispute activity and insights from the Europe, Middle East and Africa (EMEA), North America and Asia–Pacific (APAC) regions, investigating recurring themes while posing additional questions and revealing new trends as the pandemic’s effects begin to subside.

The report draws from a quantitative survey of 181 lawyers, private equity professionals and corporate finance advisors, with additional perspectives from more than 20 of the world’s top lawyers and experts working in M&A, disputes and private equity. Outside contributors come from leading firms including Quinn Emanuel Urquhart & Sullivan, Jones Day, Hogan Lovells and Linklaters.

Key takeaways include:

  • The dispute pace likely will pick up in the coming year amid continued market volatility due to concerns over inflation and a possible recession, as well as geopolitical uncertainty and lingering effects of COVID-19.
  • Financial Technology (FinTech), Energy & Climate and Traditional Financial Services are the top-ranked sectors for increased dispute activity in 2022. Respondents expect the Construction & Real Estate sector to take the lead in 2023.
  • Environmental, social and governance (ESG) disputes are brewing as regulations take shape and businesses strive to meet evolving, multifaceted ESG criteria.
  • EMEA is the region expected to drive dispute activity in the coming year, with strict regulatory regimes and political strife seen as significant disruptive factors.

The report examines how rising concerns around the volatility of markets and political upheaval are influencing M&A deals and dispute behavior. BRG’s research found that the dramatic events of the past year—including the energy crisis in Europe and elsewhere, falling stock prices and real-estate market disruptions—have shifted the sectors experiencing the most disputes compared to 2021, when COVID-19’s effects heavily impacted hospitality, life sciences and technology. The report also tracks steps that lawyers and advisors are recommending to reduce the likelihood of disputes, such as a greater emphasis on conducting enhanced due diligence while deemphasizing material adverse change and material adverse effect clauses for sellers.

“With geopolitical tensions, macroeconomic concerns and lingering COVID-19 disruptions impacting increasingly complex M&A deals, this report emphasizes the need for a clear understanding of the fundamental issues driving disputes. A multidisciplinary approach will be required to address these challenges effectively,” said BRG Managing Director Mustafa Hadi. “The data and expert analysis collected within the 2022 report offer deep insights on the volatility and uncertainty that will drive disputes in the months ahead.”

Download a copy of the 2022 BRG M&A Disputes Report.

About BRG Berkeley Research Group, LLC is a global consulting firm that helps leading organizations advance in three key areas: disputes and investigations, corporate finance, and performance improvement and advisory. Headquartered in California with offices around the world, we are an integrated group of experts, industry leaders, academics, data scientists and professionals working across borders and disciplines. We harness our collective expertise to deliver the inspired insights and practical strategies our clients need to stay ahead of what’s next. Visit thinkbrg.com to learn more.

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New North Litigation Capital Launches, Backed by £50 Million in Senior Secured Financing from Pollen Street Capital

By John Freund |

Pollen Street Capital ("Pollen Street") today announces a new senior secured credit facility of up to £50 million to New North Litigation Capital (“New North”). New North is a commercial litigation finance company and a direct subsidiary of Capital Law, a Cardiff based law firm founded in 2006.

Capital Law has a strong track record in commercial litigation, having closed over 400 claimant cases since 2001 with a 95% win rate. Drawing on its senior leadership and experienced disputes team, Capital Law launched New North to address the underserved small to mid-market segment of commercial litigation market. 

New North will be the only litigation financier in the UK owned and operated by practicing lawyers, bringing their day to day lived experience of handling mid-market litigation into pricing the risk and the funding investment decisions.

Christopher Nott, Founder and CEO of New North commented: “We are pleased to work with Pollen Street on this financing to launch New North Litigation Capital. The funding supports us to bridge a critical gap by funding claims that are often deemed too small by other players in the market. We are excited to work with the Pollen Street team as we create this new kind of litigation funding.”

Connor Marshall-Mckie, Investment Director at Pollen Street, commented:New North addresses an important gap in the litigation funding space, focusing on smaller mid-market commercial litigation. With the significant opportunity available and the deep experience of the leadership team from Capital Law we are excited to partner with the team to support their growth.”

About Pollen Street

Pollen Street is a fast-growing and high-performing private capital asset manager. Established in 2013, the firm has built deep capability across the real estate, financial and business services sectors aligned with mega-trends shaping the future of the industry. Pollen Street manages over €7bn AUM across private equity and credit strategies on behalf of investors including leading public and corporate pension funds, insurance companies, sovereign wealth funds, endowments and foundations, asset managers, banks, and family offices from around the world. Pollen Street has a team of over 95 professionals.

Burford’s Q2 Profits Surge on New Capital

By John Freund |

Burford Capital has delivered its strongest quarterly performance in two years, buoyed by a swelling pipeline of high-value disputes and a fresh infusion of investor cash.

A press release in PR Newswire reveals that the New York- and London-listed funder more than doubled revenue and profitability in the three months to 30 June 2025. CEO Christopher Bogart credited “very substantial levels of new business” for the uptick, noting that demand for non-recourse financing remains “as strong as we’ve ever seen.”

The stellar quarter follows a lightning-quick, two-day debt offering in July that raised $500 million—capital Burford says will be deployed across a growing roster of commercial litigations, international arbitrations, and asset-recovery campaigns. Management also highlighted significant progress in portfolio rotations, underscoring the firm’s ability to monetise older positions while writing new ones at scale. Investors will get a deeper dive when Burford hosts its earnings call today at 9 a.m. EDT.

Burford’s results arrive amid heightened regulatory chatter in Washington and Westminster, yet the numbers suggest the industry’s largest player is unfazed—for now—by talk of disclosure mandates and tax levies. The firm emphasised that its legal-finance, risk-management and asset-recovery businesses remain uncorrelated to broader markets, a pitch that continues to resonate with pension funds and endowments hunting for alternative yield.

For litigation-finance insiders, Burford’s capital-raising prowess and improving margins could have ripple effects: rival funders may face stiffer competition for marquee cases, while law-firm partners might leverage the firm’s deeper pockets to negotiate richer portfolio deals.

International Legal Finance Association (ILFA) Announces End of Year Gala and Inaugural Legal Finance Awards

By John Freund |

 The International Legal Finance Association is pleased to announce its annual End-of-Year Gala Dinner on November 13, 2025.  The event will take place at The Law Society in London, bringing together leading figures from across the legal finance industry for an evening of celebration and reflection on the year’s achievements.  

The dinner will be accompanied by the inaugural Legal Finance Awards.  The awards are designed to recognize and honor excellence across the legal finance ecosystem. They will spotlight the achievements of funders, law firms, brokers, advisors, and other key contributors to the continued growth and innovation of the industry. Nominations for the awards are now open, with the nomination form available here

“The Gala Dinner is a chance for our members and guests to gather in person and celebrate the progress we've made over the year,” said Rupert Cunningham, Global Director of Growth and Membership Engagement at ILFA. “We are especially excited to launch the Legal Finance Awards, which will shine a light on the outstanding work and impact of professionals across our field.”

Tickets for the Gala are on sale now, with discounted pricing available for ILFA members.  More information can be found here.