Category Archives: Premium
Canadian Law Firm Enlists Litigation Funder in Lawsuit Against Iran Over Downed Passenger Jet
A Canadian law firm is launching a class action claim against the Iranian government in the wake of the government’s admission that it shot down a passenger jet, killing all 176 people on board. 57 Canadian citizens were aboard the flight, and the class action will be filed on their families’ behalf, with help from a litigation funder.
Manolete Partners Releases Investor Presentation
UK-based Manolete Partners has published its latest investor presentation – a 15-minute showcase of the UK insolvency litigation market, and explanation of how litigation funding will benefit lawyers and practitioners in the space.
Son of Russian Oligarch Challenges Burford’s Funding Agreement
Burford Capital was enlisted by Tatiana Akhmedova, ex-wife of billionaire Russian oligarch Farkhad Akhmedov, to finance her divorce battle and trace the assets of her ex-husband. Tatiana has accused Farkhad of surreptitiously transferring assets into trusts and real estate investments, including the purchase of a Hyde Park flat for their British-born son, Temur. Now Temur has come forward to challenge the legality of his mother’s funding agreement with Burford.
Don’t Expect Missouri to Cap Rates on Funding Any Time Soon
Consumer Legal Funding has been a hot-button issue in Missouri for some time. There has been some concern from industry participants that Missouri may go the way of West Virginia and effectively ban the industry, but it is doubtful the legislature will take up the issue of capping rates on funding transactions in the next legislative session.
RMBL Agrees to Settlement in Litigation Lending Services Class Action
Litigation Lending Services has been funding a Maurice Blackburn-led class action against mortgage lender RMBL Investments, for alleged breach of contract and misleading and deceptive conduct regarding collection charges the company enforced on borrowers. Now, RMBL has agreed to compensate class members to the tune of $3MM.
Colorado Court Unseals Litigation Funding Agreement, Orders Mediation Between Parties
In List Interactive, Ltd. v. Knights of Columbus, Judge R. Brooke Jackson denied a motion to restrict public access to litigation funding agreements, finding that the content of the agreements are in the public interest. Judge Jackson confirmed that dollar amounts and specific terms may constitute trade secrets, but ruled that restricting access to the entire agreement is ‘grossly overbroad.’
Thomas Girardi Loses Motion to Dismiss Lawsuit by Stillwell Madison
Famed plaintiff attorney Thomas Girardi lost his motion to dismiss a suit by law firm funder Stillwell Madison. An Arizona court ruled that Girardi’s lawyers failed to apply for pro hac vice status at the time of the filing.
Litigation Funding in India is Growing
According to the Amendments to the Code of Civil Procedure, 1908, (Order XXV Rule 3), litigation funding in India is permissible, in that non-lawyers are not restricted from accepting remuneration upon a completed claim. With recent litigation funding partnerships in the engineering and construction sectors, it seems litigation funding in India is poised for growth.
Should Lawyers Partnering with Funders Have Skin in the Game?
Among the chief concerns over the rise of litigation funding are the potential growth of frivolous lawsuits, and funder control over case decisions. While those worries haven’t exactly panned out as many industry skeptics had imagined, they remain nagging concerns as the funding industry continues to expand with new entrants and capital sources. One unifying solution to both of these ethical problems is to mandate that lawyers who partner with litigation funders operate on success-based fee arrangements.
Court Rejects Florida Attorney’s Bid to Dismiss Litigation Funder’s Lawsuit Involving NFL Concussion Settlement
An Illinois federal judge rejected a Florida attorney’s motion to squash a lawsuit from a litigation funder who is accusing him of making misleading statements regarding his clients – ex-NFL players involved the NFL concussion settlement.
