CFPB and NYAG File Opening Briefs in RD Legal Case
The Consumer Financial Protection Bureau (CFPB) and the New York Attorney General’s Office (NYAG) have filed their opening briefs to the Second Circuit Court of Appeals. The dynamic duo is appealing Judge Preska’s ruling that the CFPB’s claim against RD Legal and other consumer legal funders be dismissed because the CFPB is unconstitutional. Judge Preska later…
Australia Facing a “Perfect Storm” in the Class Action Space
Independent Australian commercial law firm Corrs Chambers Westgarth sees a “perfect storm” on the horizon for the class action market down under. The impending release of the Australian Law Reform Commission report, increasing competition amongst litigation funders, and affirmation that courts can indeed make common-fund orders in open class actions may combine to make 2019 a watershed…
Kingsgate Accepts Lowball Insurance Offer In-Lieu of Litigation Funding
Kingsgate Consolidated’s chairman Ross Smyth-Kirk accepted a much smaller insurance payout than he was hoping for. The company had been in talks with litigation funders about suing the government of Thailand over the closure of the company’s Chatree gold mine, but Smyth-Kirk plans to use the insurance payout to fund his claim, rather than rely…
IOOF Faces Quinn Emanuel and Regency Group Class Action
Australian financial services company IOOF Holdings Limited is facing a funded class action alleging the company violated its continuous disclosure obligations by failing to inform investors that regulator Australian Prudential Regulation Authority (APRA) was investigating the company over a potential breach of superannuation laws….
The Key Issues Facing the Litigation Funding Industry
A recent Lake Whillans survey found that over 40% of litigators had first-hand experience with litigation funding. And that number is widely expected to grow over the coming year. But with mainstream acceptance comes increased attention – not all of it positive. As the funding industry expands both domestically and internationally, some key issues are…
Lake Whillans Releases 2019 Litigation Finance Survey
Lake Whillans has released the findings from its annual litigation finance survey. The funder questioned 357 respondents ranging from solo practitioners to members of large law firms to in-house counsel, and aggregated their thoughts on the growing industry of third party funding….
Nine Straight Years of Profit Growth for Burford Capital
Burford Capital, the world’s largest litigation funder, released its 2018 annual report. The company posted nine consecutive years of profit growth, after reporting a 24% bottom-line increase….
IMF Bentham Funds Australian Retirees’ Claim Against Australian Executor Trustees
4,500 Australian investors in Australian Executor Trustees (AET) are suing the trustee for $55MM plus interest. Their suit, backed by litigation funder IMF Bentham, alleges that AET acted negligently on the sale of Southern Australian Perpetual Forests (Sapfor), which led to secured investors suddenly losing their entire investment….
Third Party Funding in India is Taking Off, Thanks to the Infrastructure Industry
Hindustan Construction Company Ltd. (HCC) recently approved a restructuring plan for its debt-laden business. Under that plan, HCC is selling off its arbitration claims to a third party funder (or funders). The claims allege debts owed by government agencies who have refused to pay for completed work. Infrastructure companies such as HCC are fueling a…
Capital Pro-Égaux Inc. (NEX: CPE.H) Announces Litigation Funding Agreement
MORIN-HEIGHTS, QC, March 12, 2019 /CNW Telbec/ – Capital Pro-Égaux Inc. (the “Company”) (NEX: CPE.H) announces that its wholly owned subsidiary, Technique d’usinage Sinlab Inc. (“Sinlab”), has entered into a Litigation Funding Agreement for the funding of expenses related to the professional negligence action for damages commenced in 2013 in Florida against Sinlab’s counsel who represented Sinlab in litigation in Virginia against certain entities who violated Sinlab’s pioneering digital dentistry patent portfolio (the “Litigation”).
