How Gerchen Keller came into their latest windfall
The $213 million judgment which the 2nd U.S. Circuit Court of Appeals affirmed against Ira Rennert and The Renco Group last week must been cause for celebration for many parties. One of the biggest winners was a latecomer to the case, the litigation financing company Gerchen Keller which bought the rights to nearly a quarter of the judgment last year.
Gerchen Keller which is now part of Burford Capital was definitely a latecomer to the case which began in 2001 and not all parties involved were pleased by the late entry. However, in the judgment of the bankruptcy trustee and the court the funder brought real value by its timely capital injection to the estate.
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