Blog Archives
UK Court of Appeal Approves Therium’s £3B Opt-Out Class Action Against Google
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Date: Oct 19 2019
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A UK Court of Appeal has approved the enormous U.S.-style class action against Google in the now infamous ‘Safari workaround’ claim. 4 million claimants will be represented in an opt-out action brought by Mishcon de Reya and backed by Therium Capital Management.
IMF Bentham Funding Class Action Against CBL
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Date: Oct 19 2019
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IMF Bentham is funding a shareholder class action against New Zealand-based CBL Corp., claiming the company failed to disclose that the Reserve Bank of New Zealand had been investigating its solvency for several years. CBL has since entered liquidation, leaving many shareholders out in the cold.
Singapore Expands Third Party Funding to Domestic Arbitration and SICC Claims
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Date: Oct 19 2019
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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
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Date: Oct 19 2019
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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.
Prominent GCs Want FRCP Oversight of Litigation Funding
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Date: Oct 19 2019
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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
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Date: Oct 19 2019
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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.
Augusta Ordered to Pay Security for Costs in Aussie Employment Claim; New Normal for Litigation Funding?
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Date: Oct 19 2019
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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.
Divorce Funding Has Arrived
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Date: Oct 19 2019
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Couples save for weddings, not divorces. As a result, many are cash-strapped and taken aback by the high costs of divorce. This places undue burden on attorneys, who must often choose between working on contingency or turning away clients. Fortunately, divorce attorneys can leverage divorce funding options, which allow receivables to be covered as they emerge.
Manolete Partners Adds Mark Tavener as CFO
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Date: Oct 19 2019
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Manolete Partners – one of the few publicly-traded litigation finance entities – has announced the addition of RSM UK corporate finance director Mark Tavener as its new Chief Financial Officer.
Some Considerations for IP Lawyers Regarding Litigation Finance
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Date: Oct 19 2019
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The recent LF Dealmakers conference in NYC highlighted several key issues facing the funding industry. And there exists a clear overlap between litigation funding and IP, given that IP is the most-funded legal sector at the moment (additionally, the organizer of LF Dealmakers, Wendy Chou, hosts an annual IP Dealmakers event). So naturally, one of the topics discussed at LF Dealmakers is how IP lawyers should interact with the funding market.
