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Legal-Bay Legal Funding Announces Dedication to Legal Malpractice Case Funding

By John Freund |

Legal-Bay LLC, The Lawsuit Pre-Settlement Funding Company, announced today that they have expanded their branch dedicated to various types of Legal Malpractice Cases. As an industry leader in legal funding and lawsuit funding with various types of lawsuits, Legal-Bay is one of the go-to funders in the legal malpractice arena. This is due to the lawsuit settlement funding company’s expertise and success in helping both law firms and clients obtain the resources they need to fight and win their cases.

Most legal funding companies and lawsuit loan companies do not offer law suit cash advances on legal malpractice suits, mostly out of a desire to avoid commercial litigation and the complexities that come with it. However, Legal-Bay accepts these challenges with ease, knowing they employ an experienced underwriting and investment team that understands these cases well. With this knowledge comes the ability to get their clients the lawsuit cash advances they need now, regardless of how complex the case is in nature.

Many legal malpractice claims arise when an attorney’s decision, action, or misstep results in a loss for their client. These items can include various elements such as missing a statute of limitation filing date, not accepting a settlement agreement, or gross negligence of some kind. The client impacted by the event may then seek to recover said loss, by filing a legal malpractice lawsuit.

Chris Janish, CEO of Legal-Bay, commented, “Too often, we encounter plaintiffs who’ve suffered grave consequences due to judiciary missteps on their lawyer’s behalf. It is for this reason we are prioritizing these cases and giving them the attention—and capital—they deserve. If you are someone who’s been impacted by lawyer misconduct or legal misconduct, please don’t hesitate to contact Legal-Bay today, regardless if your legal malpractice claim has been denied by other lawsuit funding companies.” 

Legal-Bay considers themselves the best lawsuit funding company in the industry when it comes to this market. Commercial litigation cases can be tricky and very expensive to get approved, but with Legal-Bay’s experienced team they are able to fund many of these cases for significant value. This not only includes plaintiff funding, but also case cost funding, and expert witness cost funding for legal malpractice cases.

To learn more, or to apply for your legal malpractice pre-settlement cash advance or legal malpractice settlement cash advance now, please visit Legal-Bay’s page dedicated solely to these types of cases, at: https://lawsuitssettlementfunding.com/legal-malpractice.php

Legal-Bay’s pre settlement funding programs are designed to provide immediate cash in advance of a plaintiff’s anticipated monetary award. Anyone who has an existing legal malpractice lawsuit or thinks they might have a legal malpractice suit and needs cash now can apply. Due to the fact that the law suit loans don’t need to be repaid unless you win your case, presettlement funding is a risk-free way to get some much-needed cash in your hands—sometimes within mere hours.

Legal-Bay reminds plaintiffs that these lawsuit cash advances, lawsuit loans, or legal malpractice fundings are extremely beneficial in helping to cover expenses due to the malpractice or misconduct at hand. Legal-Bay also assists law firms with case cost expenses, trial cost expenses, or expert witness cost expenses to help lawyers prosecute commercial litigation or legal malpractice claims. 

Legal Malpractice filings have been on the rise over the last few years. Legal-Bay believes the average settlement amount or value for legal malpractice is in the $175K area, however these amounts can be much higher or lower in the $100K range. 

Legal-Bay typically receives inquiries from people asking for a lawsuit loan, loan on lawsuit, loan on settlement, loans on pre settlements, presettlement funding, settlement funding, legal funding, settlement cash advances, or how to get lawsuit money early. Legal-Bay reminds people that their cash advances are not a lawsuit loan, a loan on a pending lawsuit, a settlement loan, or a presettlement loan. They are simply pre-settlement cash advances that one only has to pay back if they win their case. If a client loses their case, there is absolutely no recourse.

To apply right now for the quick approval process on your legal malpractice funding request, please call Legal-Bay’s 24-hour hotline at 877.571.0405 or visit: https://lawsuitssettlementfunding.com/legal-malpractice.php

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Announcements Commercial People Moves

Darrow Names Mathew Keshav Lewis As Chief Revenue Officer & US General Manager

By John Freund |

Darrow, the leading AI-powered justice intelligence platform, today announced the appointment of Mathew Keshav Lewis as its first Chief Revenue Officer and US General Manager. Lewis brings over 20 years of experience driving revenue and growth for high-profile legal and technology companies – including SaaS platform Dealpath, alternative investment platform Yieldstreet, and legal services pioneer Axiom Law – and will be responsible for helping Darrow scale as it continues an accelerated growth trajectory. 

"Mathew's arrival at Darrow opens enterprise-level deals to all plaintiff law firms, previously accessible only to a select few,” said Evyatar Ben Artzi, CEO and Co-Founder of Darrow. “His expertise from YieldStreet and Axiom empowers our partners to leverage AI, driving unprecedented growth and innovation.” 

Lewis, who will be based in Darrow’s New York headquarters, joins Darrow after serving as the first Chief Revenue Officer of Dealpath, a real estate deal management platform. He also previously held the role of Chief Revenue Officer and GM, Investments at Yieldstreet, where he drove record revenue and growth for the investment platform. 

“I’m delighted to join a team of tremendously talented individuals at Darrow, who have already disrupted the legal technology space and forged the path ahead,” said Mathew Keshav Lewis, Chief Revenue Officer & US General Manager of Darrow. “I am inspired by Darrow’s progress to date, and I look forward to working alongside Darrow’s growing team to expand the company’s footprint.”

This announcement comes at a period of rapid growth for the company, which completed its $35 million Series B funding round last year. Darrow currently works on active litigation valued over $10 billion across legal domains such as privacy, consumer protection, and antitrust. 

About Darrow: Founded in 2020, Darrow is a LegalTech company on a mission to fuel law firm growth and deliver justice for victims of class and mass action lawsuits. Darrow's AI-powered justice intelligence platform leverages generative AI and world-class legal experts and technologists to uncover egregious violations across legal domains spanning privacy and data breach, consumer protection, securities and financial fraud, environment, and employment. Darrow is based out of New York City and Tel Aviv. For more information, visit: darrow.ai. 

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Announcements Commercial

Omni Bridgeway Releases Investment Portfolio Report for 3Q24

By John Freund |

Omni Bridgeway Limited (ASX: OBL) (Omni Bridgeway, OBL, Group) announces the key investment performance metrics for the three months ended 31 March 2024 (3Q24, Quarter) and for the financial year to date (FYTD).

Summary

  • Investment income of A$296 million FYTD; A$56 million provisionally attributable to OBL.
  • 23 full completions, 17 partial completions FYTD, with an overall multiple on invested capital (MOIC) of2.0x.
  • A$333 million of new commitments FYTD with a corresponding A$447 million in new fair value, on track to achieve our A$625 million target.
  • Pricing remains at improved levels, up 32% for the FYTD compared to FY23.
  • Strong pipeline, with agreed term sheets outstanding for an estimated A$212 million in new commitments.
  • OBL cash and receivables of A$101 million plus A$60 million in undrawn debt at 31 March 2024.
  • A$4.4 billion of possible estimated portfolio value (EPV) in completions over the next 12 months. 
  • Further simplification and enhancement of our disclosures as announced at the Annual General Meeting, comprising non-IFRS OBL-only financials and non-IFRS fair value on a portfolio basis and OBL-only basis.
  • These new disclosures and metrics, as well as a valuation framework for our existing book and platform, were presented at our investor day on 27 March 2024.

Refer to https://omnibridgeway.com/investors/investor-day.

Key metrics and developments for the Quarter

Income and completions

  • Investment income of A$296 million generated from A$193 million income recognised and A$103 million income yet to be recognised (IYTBR), with A$56 million provisionally attributable to OBL FYTD (excluding management and performance fees). 
  • During the Quarter, 11 full completions and 11 partial completions (excluding IYTBR), resulting in 23 full completions and 17 partial completions (excluding IYTBR) FYTD, and one secondary market transaction, with a FYTD overall MOIC of 2.0x.

New commitments

  • Our stated targets for FY24 include A$625 million in new commitments or equivalent value, prioritising value over volume to reflect potential for improved pricing of new commitments.
  • FYTD new commitments of A$333 million at 31 March 2024 (from matters that were newly funded, conditionally approved or had increased investment opportunities). 
  • The fair value associated with these commitments is $447million, 72% of the full year value generation target.
  • Pipeline of 37 agreed exclusive term sheets, representing approximately A$212 million in investment opportunities, which if converted into funded investments is a further 34% of our FY24 commitments target.  
  • In addition to the regular new commitments to investments in the existing funds FYTD, an additional A$11.5 million of external co-fundings were secured for these investments to manage fund concentration limits. OBL will be entitled to management fees as well as performance fees on such external co-funding.

Portfolio review

  • A$4.4 billion of EPV is assessed to possibly complete in the 12 months following the end of the quarter. This 12 month rolling EPV is based on investments which are subject to various stages of (anticipated) settlement discussions or for which an award or a judgment is expected. All or only part of these may actually complete during the 12 month period.
  • We anticipate replacing these final EPV metrics with fair value metrics by the end of this financial year.

Cash reporting and financial position

  • At 31 March 2024, the Group held A$100.7 million in cash and receivables (A$62.8 million in OBL balance sheet cash, A$2.0 million in OBL balance sheet receivables and A$35.9 million of OBL share of cash and receivables within Funds) plus access to a further A$60 million in debt.
  • In aggregate, we have approximately A$161 million to meet operational needs, interest payments, and fund investments before recognising any investment completions, secondary market sales, management and transaction fees, and associated fund performance fees.
  • Post Quarter-end and as per the date of this report, in anticipation of the expiry of the availability period of the debt facility, OBL has drawn down the A$60 million in undrawn debt and received the funds.

Investor day

The investor day presentation and Q&A which took place on 27 March 2024 can be viewed at https://omnibridgeway.com/investors/investor-day.

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Announcements Commercial People Moves

Carpentum Capital Launches Aurigon Litigation Risk Consulting (LRC)

By John Freund |

The team around former Carpentum Capital has launched AURIGON LITIGATION RISK CONSULTING (LRC), a litigation funding intermediary based in Switzerland with a special focus on Latin America. 

Founder and Managing Director Dr. Detlef A. Huber comments: ”AURIGON LRC is combining two worlds, litigation finance and insurance. Both areas are increasingly overlapping. Insurers offer ever more litigation risk transfer products and funders recur to insurance to hedge their risks. Hence complexity and advisory requirements are increasing, especially in still developing markets like Latin America. With our team of lawyers and former re/insurance executives trained in Latin America, the US, UK and Europe we are perfectly suited to advice our clients in any stage of the funding process or in related insurance matters. Our goal is to become the preferred partner for litigation and arbitration funding projects out of Latin American jurisdictions and I am looking forward to this new adventure.”

ABOUT AURIGON

AURIGON Advisors Ltd. is operating as re/insurance consultancy since 2011 with a special focus on dispute resolution and auditing. With AURIGON LRC an intermediary for litigation funding has been launched servicing our clients out of Argentina, Chile, Brazil and Switzerland in Spanish, English, Portuguese and German. With our experience setting up the first Swiss litigation fund dedicated to Latin America (founded 2018), and in the insurance advisory area (since 2011), we are bringing together knowledge of processes and mindsets of the funding and the insurance world. 

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