Republican Senators Reintroduce Litigation Funding Disclosure Bill
A group of Republican Senators has reintroduced a bill that would mandate disclosure in class action and MDL contexts. The Senators first introduced the Litigation Funding Transparency Act (LFTA) last year, but it went nowhere. Now they are making another push with the same legislation.
How Litigation Funding is Fueling Investor-State Arbitration
The International Centre for Settlement of Investment Disputes has found that 2018 was a record year for investor-state arbitration disputes. Indeed, the sector has been on the rise over the past two decades. Much of that growth is being fueled organically – there is simply more foreign investment taking place globally. However, a sizable chunk…
Law Firm Feldman & Pinto Respond to Thrivest Legal Funding Lawsuit Over Unpaid Debt
In the case of Thrivest Legal Funding v. Arnold, consumer legal funder Thrivest was suing solo practitioner Louis J. Arnold for failing to fulfill a litigation funding agreement he signed which provided his client, Allegra King, $19,500 of living expenses as she pursued her personal injury claim. The case got more complicated, as a Philadelphia court ordered prominent…
3rd Circuit to Decide Judicial Authority Over Third Parties in MDLs in Ruling on NFL Concussion Case
The 3rd Circuit Court of Appeals has a heavy decision to make: just how much authority (if any) can a court exercise over a third party (non-party) in a class action or MDL claim? Judge Anita Brody voided the funding contracts between three consumer funders and thousands of ex-NFL players who were suing the league…
RBS Shareholder Group Challenges Vannin’s Right to Bring Suit
Vannin Capital is just one of many companies looking to collect on the £200MM settlement between Royal Bank of Scotland (RBS) and investors who suffered losses after the bank collapsed subsequent to a £12B fundraise in 2008. Vannin claims it is owed £14MM, and is suing to collect. Now, the RBS shareholder group is challenging the funder’s right…
Legal-Bay Announces Expanded Funding For Sexual Abuse Victims
ALBANY, N.Y., Feb. 11, 2019 /PRNewswire/ — Legal-Bay, the premier pre-settlement lawsuit funding source, reports that Governor Cuomo assisted in passing a legislation to extend filing deadlines for sexual abuse survivors in the state of New York (A.8401-C/S.8977).
Therium Pursuing Shareholder Claim Against Metro Bank
Global litigation funder Therium Capital Management is pursuing a claim against UK-based Metro Bank, after a nearly 50% collapse in share price subsequent to the bank’s admission that it made accounting errors when assessing risk valuations….
Innsworth and Keystone Build Claim Against Petrofac in Bribery Scandal
Oil company Petrofac is facing a potential £400MM fine for its role in an alleged bribery scandal, which saw the company’s shares tumble and its global head of sales plead guilty to corruption charges. Now, litigation funder Innsworth is partnering with law firm Keystone to bring a shareholder claim against the oil giant….
How ‘Affirmative Recovery’ Provides an Inroad to GCs for Litigation Funders
General Counsels are undergoing a worldwide cultural shift. What used to be a cost control center is rapidly evolving into a proactive means of augmenting the balance sheet via revenue generation. More and more, GCs are brought into meetings with CEOs and CFOs to discuss financial strategy, and are expected to help boost revenue generation…
German Court Rules Litigation Funder Cannot Collect Earnings in Telecomm Case
Germany has been at the forefront of litigation funding in the EU for some time. Ever since FORIS-AG became the first dedicated funder there, numerous global funders, including Burford Capital which recently partnered with the law firm Hausfeld on a portfolio funding arrangement, have made inroads into Germany. But a recent decision by a German…
