Russian Shipping Company NovoShip Sues Burford Capital for ‘Sex-Tape Swap’
The accusations against Burford Capital keep piling up. In the wake of the Muddy Waters claim, Russian shipping firm NovoSip is alleging that a Burford Capital executive swapped sensitive materials for a sex tape of an American billionaire that the company was investigating as part of its legal enforcement and asset tracing business.
Supreme Court ‘Not Alarmed’ by Vannin Capital’s Fees in Queensland Nickel Claim
Clive Palmer, founder of the now-defunct Queensland Nickel mining company, has been pushing for The Australian Supreme Court to toss the remaining $100MM in creditor claims against him, saying liquidators are only pursuing more money to pay out exorbitant fees to litigation funder Vannin Capital. But FTI Consulting, the General Purpose Liquidators, has shot back that Vannin’s fees are ordinary, and even the judge overhearing the case has said she is ‘not alarmed’ by Vannin’s fee structure.
IMF Bentham Posts 89% Success Rate
Publicly-traded litigation funder IMF Bentham recorded a portfolio value of $9.5B for the fiscal year ending June 30th, 2019. That represents a 68% YoY increase, and comes by way of an 89% success rate for the firm (so much for the notion that litigation funding might prompt frivolous lawsuits).
EQUITY ALERT: Rosen Law Firm Files Securities Class Action Lawsuit Against Burford Capital Limited
NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Burford Capital Limited (OTC: BRFRF, BRFRY) from March 18, 2015 through August 7, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Burford investors under the federal securities laws.
How GCs Can Benefit from Litigation Finance in the Current Economic Environment
Study after study shows that General Counsel are growing more and more interested in the product of litigation finance, yet the adoption rates remain low. There are numerous hurdles, not the least of which is cultural: many GCs simply retract from the idea that their role and responsibility should transform from cost container to revenue producer. That said, given the shifting economic climate, it’s worth taking another look at how litigation funding can benefit GCs and the balance sheets they are entrusted to safeguard.
European Litigation Funder Deminor is Looking for a North American Business Developer
Deminor, the European-based recovery and asset manager, is searching for a litigation funding business developer for its North American business.
Berg & Androphy Dispute with Litigation Lending Platform LitCap Moves to Mediation
Houston law firm Berg & Androphy’s dispute with litigation lending platform LitCap is headed out of court, after the The 14th Court of Appeals abated the law firm’s appeal for 60 days, pending mediation between the two parties.
Second Annual Litigation Finance Dealmakers Forum to Be Held on September 18-19 in New York City
NEW YORK–(BUSINESS WIRE)– Premier Event in Litigation Finance to Feature Innovative Program, One-to-One Meetings, Industry Leaders, and Keynote Speaker Stephen Susman
Amid continued growth and developments in the litigation finance market, the leading companies and executives in the industry will convene at the Second Annual LF Dealmakers Forum to be held in New York on September 18-19. The keynote speaker will be Stephen Susman, one of the nation’s top trial lawyers and founder of Susman Godfrey, a nationally recognized firm specializing in high stakes litigation.
Makate Turns Down 47 Million Rand in Litigation-Funded Vodacom Claim
Nkosana Makate is suing South African mobile phone company Vodacom for allegedly pilfering the technology behind its popular ‘Please Call Me’ feature. The claim is in the home stretch, and Makate’s lawyers – financed by litigation funder Chris Schoeman – have announced that Makate has turned down a 47 million Rand (roughly $3 million) settlement offer.
Legal-Bay Opens Nationwide Commercial Litigation Funding Division
LOS ANGELES, Aug. 20, 2019 /PRNewswire/ — Legal-Bay LLC, the Lawsuit Settlement Funding Company, announced that they have launched a new lawsuit finance division for commercial litigation, lawsuit loans or advances, and attorney loans for law firms. Commercial litigation cases can be extremely complex and require expansive resources for both plaintiffs and law firms to fight. Legal-Bay feels this is an under-served market and plans to build a new division to accommodate the needs in the market.
