Blog Archives
ASIC Opposes ALRC on Regulating Litigation Funders
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Date: Oct 23 2018
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The Australian Securities and Investment Commission (ASIC) has rejected a push by the Australian Law Reform Commission (ALRC) to regulate litigation funders by forcing them to obtain a special license to operate. The ALRC had been calling for deeper regulation into the sector subsequent to an explosion of big money class actions nationwide, the majority…
Harbour Litigation Funding Backs $500M Maurice Blackburn Class Action Against Uber
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Date: Oct 23 2018
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Maurice Blackburn is leading an Australian class action against Uber, on behalf of taxi drivers who allege that Uber’s unfair business practices have caused serious financial harm. Harbour Litigation Funding is financing the claim to the tune of $20M, and estimates place the potential payout in the $500M range – making the claim one of…
Big Win for Consumer Legal Funders as Georgia Supreme Court Affirms Court of Appeals Decision in Cherokee Funding Case
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Date: Oct 23 2018
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Earlier this year, the Georgia Supreme Court agreed to hear a writ of certiorari to review the Court of Appeals’ decision that neither the Industrial Loan Act nor the Payday Lending Act applies Consumer Legal Funding transactions. Now the Court has returned with an affirmation of the Court of Appeals’ verdict, upholding the legality of Consumer Legal Funding…
Funders Share Their Perspectives on Litigation Finance in the Middle East
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Date: Oct 23 2018
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At the recent International Bar Association conference in Rome, a panel of funders and lawyers shared their thoughts on the current state of litigation finance in the Arab world, and what their expectations are for the future of the industry in that region….
Native American Tribes File Amicus Brief in Opioid MDL
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Date: Oct 23 2018
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448 of the 573 “federally recognized” Native American tribes have filed an amicus brief in the Opioid MDL, requesting special recognition as sovereign governmental entities for their respective tribal communities. The brief supports cities and counties opposing motions to dismiss the litigation, and claim that Native Americans are disproportionately affected by the surge in opioid abuse….
Is Houston the Newest Hub for Litigation Finance?
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Date: Oct 23 2018
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With a diverse array of industries, a reputation for wildcatting and speculative risk-taking, and a thriving legal industry, Houston is a metropolis that should be on every litigation funder’s radar. Indeed, firms such as IMF Bentham and Validity Finance have already opened offices in the Texas oil town, and as global funders continue to expand…
Unlockd Granted Six Month Stay as it Pursues Litigation Funder for Claim Against Google
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Date: Oct 23 2018
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Unlockd was a technology company that offered consumers discounts on consumers’ phone bills by allowing them to watch ads when they unlock their phones. However, the company entered receivership after Google allegedly crushed its business model by removing Unlockd’s app from its platform. Unlockd’s founder and CEO, Matt Berriman, has been granted a six month stay by…
NYAG Files Notice of Appeal in RD Legal Case
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Date: Oct 23 2018
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Following Judge Preska’s ruling that the New York Attorney General’s (NYAGs) claims against RD Legal be dismissed with prejudice, the NYAG office has announced plans to file an appeal….
LPF Group Calls for Public Inquiry into Conduct of Big Insurance
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Date: Oct 23 2018
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In the wake of an investigation by Newsroom, one of New Zealand’s leading independent news websites, litigation funder LPF Group is calling on the government to hold a public inquiry into the conduct of the nation’s insurance industry….
Vannin Pulls the Plug on its IPO
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Date: Oct 23 2018
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In the context of a softer IPO market in the UK, Vannin Capital has decided to pull the plug on its planned flotation. The funder recently announced a valuation downgrade – from £1B to between £600M and £700M. However, it seems that Vannin will now be remaining private, at least for the time being….
