Category Archives: Premium
Aussie Government Agrees to Settle PFAS Chemical Class Action, Funded by IMF Bentham / Omni Bridgeway
IMF Bentham – now renamed Omni Bridgeway – is celebrating the announcement of a proposed settlement between members of a class representing communities affected by harmful PFAS chemicals, and the Aussie government which is alleged to have negligently allowed such chemicals to be imported into the country.
Maurice Blackburn Eschews Litigation Funding; Will File Class Action Against NAB on Contingency
No one will ever accuse Aussie law firm Maurice Blackburn of not being proactive. The class action king (Maurice has filed the most in Australia) is pursuing a class action claim against banking giant NAB, and plans to use a contingency-fee model. There’s just one wrinkle here: contingency-fee arrangements aren’t legal in Australia. The state of Victoria is mulling legislation that would legalize such arrangements, but hasn’t passed the final bill yet.
How Litigation Funding Can Benefit Insurers in Subrogation and Reinsurance Claims
The business of Insurance is a complex one, full of costly legal pitfalls. This is especially true within two core components of the Insurance industry: subrogation and reinsurance. Fortunately, litigation funding provides an antidote to Insurance companies who may find themselves embroiled in legal turmoil stemming from either practice.
How Lawyer-Directed Funding Enhances Access to Justice
“Lawyer-Directed” litigation finance, whereby a funder forms a partnership with contingency counsel, provides an opportunity to work around some of the issues that exist in client-directed funding – most notably issues that arise when creditors or lienholders are awaiting recoupment from the client, pending successful litigation. Many funders are averse to partnering with a client that is encumbered by senior lienholders, hence many such claims go unfunded, despite the merits of the underlying case. Lawyer-directed funding provides an attractive solution.
Litigation Lending Services Backing Second Class Action Against IOOF
Aussie financial services giant IOOF is facing yet another class action – this one brought by Shine Lawyers and funded by Litigation Lending Services. The action seeks to represent shareholders who suffered losses after revelations of insider trading and front-running led to a precipitous stock drop in 2015.
AxiaFunder Raising £200,000 on Litigation Crowdfunding Campaign
Online litigation funding platform AxiaFunder has taken to another digital platform – Seedrs – to raise capital. The UK-based funder has launched an equity crowdfunding campaign with the goal of raising £200,000.
LPF Group Fuels Litigation Funding in New Zealand
New Zealand has been far slower to adopt litigation funding than neighboring Australia, where the practice originated. However, the funding market is surging in kiwi-land, thanks in part to local funder LPF Group, which has bankrolled some sizable claims.
Bankrupt Company’s Trustee Looks to Clawback $6.3MM from Quinn Emanuel, and $2MM from IMF Bentham
The bankruptcy trustee for the now-defunct aircraft parts manufacturer Super98, is looking to clawback payments made to law firm Quinn Emanuel and litigation funder IMF Bentham, for a claim the company pursued against Delta Airlines.
Litigation Funder & Attorney Mark Elliott Dies in Car Accident
Mark Elliott, an attorney and litigation funder in Australia, has died in a car accident.
Multiple States Pursue Regulations Against Litigation Funders
Last week, Utah became the latest state to introduce a litigation funding bill, as state senator James A. Dunnigan filed House Bill 312, which would force litigation funders to register with the Department of Commerce, and also aims to regulate how they operate. Many lawmakers are blaming litigation funding for the rising cost of insurance, which is an argument that is being made by Big Insurance and the Chamber of Commerce against the industry.
