Category Archives: Case Developments
Sberbank CZ Litigation, Insolvency and Liquidation
The Central Bank of Russia founded Sberbank in 1991. Traded on the Moscow Stock Exchange, Sberbank is Russia’s largest universal banking institution with ⅓ of all Russian assets flowing through it. Given Russia’s war in Ukraine, the Czech National Bank revoked Sberbank CZ’s license at the beginning of May. Furthermore, a Czech Municipal Court in…
New York Court of Appeals Rejects Litigation Agreement Discovery
In what might be the first time in the history of New York State published law, a New York Appeals Court has rejected relevance associated with discoverability of litigation funding agreements in Worldview Entertainment Holdings v. Woodrow. The five justice panel refused the necessity of probing the plaintiffs financial background on grounds that the assessment…
Sears Holdings Seeks $35M Litigation Investment Approval
The iconic Sears department store (which filed Chapter 11 bankruptcy protection in 2018), now known as Sears Holding Corporation, filed a motion to authorize a $35M litigation funding agreement in United States Bankruptcy Court of the Southern District of New York. Bench Walk Advisors LLC was selected by Sears Holding Corporation to coordinate funding the…
Israeli Pegasus Spyware Case Receives Funding
The United Kingdom’s Global Legal Action Network (GLAN) has teamed up with Bindmans LLP to challenge potential misuse of the Pegasus software platform. Pegasus operates as a spyware surveillance utility that was originally developed in Israel. GLAN raised pre-litigation funding from the Digital Freedom Fund. Bindmans is now pursuing additional litigation investment for GLAN’s claim…
Delaware’s Chief Judge Issues Third-Party Funding Standing Order
A standing order has been issued by Delaware’s Chief Judge, the Honorable Colm F. Connolly, calling for all cases under his supervision that engage third party investment to submit specific agreement details to his bench within the next 45 days. Judge Connolly defines third party funding as any agreement that has been organized on a…
Delaware’s Supreme Court Shifts Fees to Losers
The state of Delaware is home to some of the world’s largest corporate entities. New designs to litigation funding agreements are beginning to include provisions for the losing parties’ financial responsibility in covering some (if not all) of the case costs). Delaware’s Supreme Court has stopped short of billing losing parties for state costs associated…
LegalPay Funds Brain Logistics, Seeking Hero MotoCorp Asset Recovery
Two wheeler Hero MotoCorp is an Indian cycle manufacturer whose assets may be seized by India-based litigation funder LegalPay. LegalPay has invested an undisclosed amount in the Brain Logistics claim. …
VISA, Mastercard Face Another Funded Class Action
Bench Walk Advisers is the latest funder to take on the card issuers for their alleged malfeasance, funding a class action lawsuit for anti-competitive behavior. …
The $300B Shock Verdict and Social Inflation
A $300B damage award is serving as an example of shock verdicts driving the notion of social inflation. Preserving the ecosystem of litigation finance from shock verdicts is a priority for some in the industry. …
Canada’s Supreme Court Considers Advancing Award Costs
Canada’s Supreme Court (SCC) issued historic guidance for First Nation Indian tribes, ruling that the Beaver Lake Nation’s “pressing needs” may include not having adequate capital for litigation. SCC’s ruling further includes a provision for Beaver Lake to qualify for advance costs to finance litigation fees as necessary. The SCC decision signals pathways to reconciliation…
