Blog Archives
Will the ABA’s Litigation Funding Guidelines Do More Harm Than Good?
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Date: Aug 10 2020
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This week, the ABA’s House of Delegates approved new best practices guidelines for litigation funders. The ABA’s inclusion of third-party funding in their guidelines is a necessary step, given the increasing popularity of the practice. Some say, however, that these new guidelines are not an accurate reflection of how Litigation Finance works.
Clive Palmer Feels ‘Vindicated’ in Vannin-Funded Claim
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Date: Aug 10 2020
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A Queensland court has dismissed civil claims against Clive Palmer. The noted Australian mining magnate had been ensconced in a civil trial following the collapse of QNI (Queensland Nickel). The company’s closure left behind roughly $200 million in debt and 800 Australians unemployed. The decision takes a debt of $124 million off the table for the mining billionaire.
COVID Litigation Leads to Huge Spike in Premium Prices
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Date: Aug 10 2020
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It’s clear by now that the insurance market is beset by a large uptick in litigation. As insurers scramble to fight lawsuits over claim rejections, premiums climb steadily higher. Who is to blame? Insurers are pointing to an overly litigious environment brought about by the pandemic. But factors are as varied as the ‘Me Too’ movement, wildfires, cyber security issues, rampant furloughs, and businesses interruption and closures all over the world.
Taking a Look at Security for Costs
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Date: Aug 10 2020
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Over the last 10 years, provisional measures such as security for costs have been requested in progressively higher numbers. In fact, of all the provisional measures asked for, roughly 20% have included security for costs. These requests are rarely granted, however. As it stands, most courts feel that requests for security for costs can only be granted under unusual and specific circumstances.
QRxPharma Shareholders Finally Learn of Settlement
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Date: Aug 10 2020
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A series of delays led to shareholders in the QRxPharma case not knowing about the settlement of their case for an entire year. The class-action revolved around claims that QRxPharma had engaged in deceptive conduct. Claims allege misleading statements about MoxDuo and the advancement of the regulatory approval process, as well as breaches of the 2001 Corporations Act as it pertains to continuous disclosure.
What’s Causing the Rise in Trade Secret Litigation?
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Date: Aug 10 2020
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Intellectual property can become a valuable asset, especially during an economic downturn. That may be why new patent lawsuits have increased over 15% in recent months. Trade secret litigation is likely to follow—which may be encouraged by the overwhelming availability of third-party litigation funding.
Norman O’Bryan Makes Shocking Admission in Banksia Claim
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Date: Aug 10 2020
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Australian legal royalty Norman O’Bryan has shocked the legal community with his recent mea culpa. Amid a scandal and accusations of fraud, O’Bryan has agreed that courts should remove his name from the official rolls of solicitors. His barrister, David Batt, stated that his client would not defend himself against fraud allegations. Batt went on…
Lupaka Gold Signs Funding Agreement in Case Against Peru
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Date: Aug 10 2020
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Lupaka Gold Corp, a Vancouver-based mining company, has secured a funding agreement with Bench Walk Advisors (BWA). The funds will be used to pursue a claim against the Republic of Peru under the terms of the 2009 Canada-Peru Free Trade Agreement (FTA). BWA is a leading global funder with more than $250 million at their disposal.
How Did a $440K Law Firm Loan Balloon to $18MM?
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Date: Aug 10 2020
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Sean Callagy’s law firm, Callagy Law, has been involved in several contentious lawsuits in recent months, in part due to defaulting on loans from Legal Capital Group. The LCG agreement was made with George Prussin, an old friend of Callagy. Their friendship fell apart after several professional differences that became litigious.
Omni Bridgeway Income at Record High
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Date: Aug 10 2020
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Omni Bridgeway’s year-to-date numbers suggest a fantastic year for the litigation funding industry. According to a statement released by the company on Monday, the funder has made 20 litigation investments so far this fiscal year—leading to a gross consolidated income of $288.5 million.
