IMF, Njord Law Firm and Quinn Emanuel propose shareholder action against Danske Bank over one of the world’s largest money-laundering scandals
(LONDON, UNITED KINGDOM 22 January 2019): IMF Litigation Funding Services Limited (IMF LFS), a wholly owned subsidiary of IMF Bentham Limited (ASX:IMF) (IMF), one of the world’s largest and most respected litigation funders, announced today a proposed shareholder action for shareholders of Danske Bank A/S (CPSE:DANSKE) (Danske Bank), to be led by specialist Danish law firm NJORD Law Firm and leading global litigation law firm Quinn Emanuel.
SpectraLegal Raises £100MM to Fund Law Firms
SpectraLegal, the European arm of BridgePoint Financial Services, a Canadian litigation lender, has raised £100MM to fund law firms. The funder announced it is looking to fill the gap left by the UK government’s decision to rescind funding for legal aid initiatives….
As Litigation Funders IPO, Their Financials Become Public Information
For a while there were only four publicly-traded funders: Burford Capital, IMF Bentham, Litigation Capital Management and Juridica. With Juridica’s bankruptcy, that number dwindled to three. However LCMs move from the ASX to the LSE (albeit on the secondary exchange – the AIM), and Manolete Partners’ recent float, as well as Vannin Capital’s pending IPO…
UK-Based Crowdfunding Platform for Litigation Funding Finances First Legal Claim
AxiaFunder, the UK-based crowdfunding platform which allows retail investors to fund litigation funding claims, has financed its first claim after launching earlier this month….
Law Firm Funder Sues Husband of Real Housewives of Beverly Hills Star for Unpaid Debt
Law Finance Group is suing attorney Thomas Girardi, the husband of Real Housewives of Beverly Hills star Erika Jayne, over a $15MM loan the law firm funder issued. Law Finance Group claims Girardi has refused to make a single payment, while he and his celebrity wife continue to live a lavish lifestyle….
Northern District of California Rejects Motion for Discovery of Litigation Funder
Score yet another victory for litigation funders on the disclosure front, as the Northern District of California upheld past judicial decisions to reject a defendant’s motion for discovery of a litigation funder’s identity….
Third Party Funding Code of Conduct in Hong Kong to Come into Effect February 1st
Hong Kong is set to enact its Code of Practice of Third Party Funding of Arbitration on February 1st, 2019. These reforms place Hong Kong in line with other prominent international arbitration jurisdictions, and will likely have a significant impact on the broader arbitration climate in the region….
How a Supreme Court Decision on Fair Use in APIs Could Open the Floodgates for IP Claims
The 2010 Oracle v. Google lawsuit over fair use of APIs made its way to the Federal Circuit in March of last year. To the surprise of many, the Federal Court declared that APIs are not protected under fair use. Google has vowed to appeal, which means the Supreme Court could very well decide the issue this year. The…
Class Action Funding in the EU
The explosive growth of litigation funding has led to a boom in the class action market. Recently, a panel of experts gathered to discuss class action funding in the EU, including how we got to where we are today and where we might be headed in the near future….
Hedge Funds Showing Increased Interest in Litigation Claims
It’s no secret that over the last several years, Wall Street has been pouring money into the litigation space – whether indirectly by capitalizing litigation funders, or directly via their own investments into the space. However the recent revelation of Baupost Group’s $1 billion purchase of legal claims against utility company PG&E illustrates both the scope and scale of the hedge fund world’s interest in the legal sector.
