Singapore Expands Third Party Funding to Domestic Arbitration and SICC Claims
Singapore made waves two years ago when – along with Hong Kong – it formally legalized litigation funding. The motivation was to boost the prominence of Singapore’s international arbitration center. As such, Singapore only allowed funding in international arbitration claims… until now. The city-state has announced that litigation funding will be expanded to both domestic arbitration and certain Singapore International Commercial Court proceedings.
MDL Judge Rejects Motion to Disclose Litigation Funding
The judge in a product liability MDL in the U.S. District Court for the District of New Jersey has rejected the defense’s motion to discover whether the plaintiff is using litigation funding.
Baker Street Funding Secures $30 Million for New Attorney Focused Fund
NEW YORK, NY / ACCESSWIRE / September 23, 2019 / A leading pre-settlement funding provider, Baker Street Funding LLC, announced today the closing of a series A round of investment into their Attorney Funding Division. Founded in 2018, Baker Street Funding has quickly become a rising star in the legal funding space and their core business model is to provide plaintiffs with much needed liquidity while their case is awaiting settlement. The newly named Attorney Funding Division will provide Attorney Funding to law practitioners across the country.
Prominent GCs Want FRCP Oversight of Litigation Funding
45 general counsel and chief legal officers have signed a letter which requests that the Committee on Rules of Practice and Procedure amend the Federal Rules of Civil Procedure as pertains to three specific areas of MDL litigation: census of claims, interlocutory appellate review, and litigation funding.
Judge Dismisses Burford Client’s Appeal in AMP Case
To no one’s surprise, Justice David Hammerschlag – known in NSW legal circles as ‘The Hammer’ – dismissed the appeal of Ms Marion Antoinette Wigmans. Wigmans had been one of the five lead plaintiffs to file a claim against financial giant AMP. Her claim – along with three others – were stayed by the presiding judge in favor of a no-win, no-fee claim brought by Maurice Blackburn. Wigmans was the only plaintiff to file an appeal of that ruling, and the Appeals Court just upheld the trial court’s decision.
Westfleet Advisors Adds Federal Prosecutor and Litigation Finance Veteran To Growing Executive Team
NASHVILLE, October 10, 2019—Westfleet Advisors, the leading U.S. litigation finance advisory firm, announced today that it has expanded its executive team with the additions of Barry Kamar and Michael Perich, both as Vice President and Legal Counsel. Mr. Kamar was most recently an Assistant United States Attorney (AUSA) in New Jersey. Mr. Perich joins Westfleet from AmLaw 200 law firm, Ice Miller.
NYU Center on Civil Justice Hosting Litigation Finance Conference
The Center on Civil Justice recently launched its Dispute Financing Library, a free, neutral repository of documents relating to the third-party litigation funding industry. It is online at www.DisputeFinancingLibrary.org.
Frances Coats joins Augusta as General Counsel
London 10th October 2019, Augusta today announces the appointment of Frances Coats as General Counsel, based in London.
Augusta Ordered to Pay Security for Costs in Aussie Employment Claim; New Normal for Litigation Funding?
An Australian Federal Court judge may have just poured cold water on the red-hot employment class actions sector, by ordering that Augusta Ventures pay $2.1MM in security for costs. Traditionally, funders have been shielded from costs orders by The Fair Work Act. But Justice Michael Lee ruled that the act does not apply to litigation funders.
Legal-Bay Settlement Funding Announces Extended Deadlines for Victims of Sexual Abuse
NEW YORK, Oct. 8, 2019 /PRNewswire/ — Legal-Bay, the premier lawsuit funding company, previously reported on Governor Cuomo’s new legislation to extend filing deadlines for sexual abuse survivors in the state of New York. The law went into effect last month, and since then, over 500 new cases have been filed.
