KBRA Assigns Preliminary Rating to TVEST 2020A, LLC Note
NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns a preliminary rating to one class of notes from TVEST 2020A, LLC, a $123 million securitization collateralized by litigation finance and medical receivables serviced by Experity Ventures LLC (“Experity”).
ABA Adopts Guidance in Third-Party Litigation Funding
This article was contributed by Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding (ARC).
On August 3, 2020, The American Bar Association (ABA) House of Delegates, by a vote of 366-10, voted to adopt the resolution for “Best Practices for Third-Party Litigation Funding”. This established a slew of national guidelines that law firms, consumers and legal funding companies should follow.
Omni Bridgeway Income at Record High
Omni Bridgeway’s year-to-date numbers suggest a fantastic year for the litigation funding industry. According to a statement released by the company on Monday, the funder has made 20 litigation investments so far this fiscal year—leading to a gross consolidated income of $288.5 million.
Class Action Accuses Banks of $500MM in Overcharges
UK Litigation Finance firm Woodsford is funding a class action against BT, AMP, and Commonwealth Bank. If successful, the case could bring the funder as much as 25% of any potential reward. Craig Allsopp, class action leader at Shine, who has taken on the case, has said that funders generally receive between 20-30% of awards from successful cases.
Framework Changes Pave Way for Litigation Finance in Singapore
Singapore is a relative newcomer to the Litigation Finance party. Still, the industry is growing fast, illustrating that there is certainly a real need. The changes brought about by the Insolvency, Restructuring, and Dissolution Act have taken effect as of July 30th. This paves the way for a multitude of advancements in how the law deals with bankruptcy, insolvency, and corporate restructuring.
Pravati Capital Completes Expansion to Key Markets and Adds Accomplished New Hires to its Distinguished Leadership Team
NEW YORK, July 29, 2020 — Pravati Capital, leading litigation finance pioneer and consulting firm, today announced four new members to its esteemed leadership team, each complementing the firm’s outstanding services and legal insight. Joining Pravati Capital, Bruce Cohen, Douglas Smith, Scott Potter and Shane Ham will bolster the company’s litigation practice with specialized experience to better serve clients.
Helene Roins joins Litigation Capital Management (LCM) in Sydney
Litigation Capital Management Limited, a global provider of disputes funding, publicly listed on the London Stock Exchange’s AIM market, is pleased to announce the hire of Helene Roins as an Investment Manager based in Sydney.
Consumer Legal Funding Scores Major Regulatory Win
As Consumer Legal Funding grows in popularity and influence, some lawmakers are scrambling to impose laws that would limit the practice. Professional groups struggle with whether increased regulation is needed, and if it is, what form it should take. A recent move by the Uniform Law Commission (ULC) has put litigation funding regulation on hold—at least for the time being. That’s not just a win for the industry, but also for the clients and legal professionals who rely on it.
Key Takeaways from LFJ’s Quarterly Industry Roundup on Commercial Litigation Funding
This past Thursday, July 30th, Litigation Finance Journal held a special digital conference covering the key issues facing the commercial funding industry.
Pitcher Partners Lawsuit Dropped
After a settlement involving Slater & Gordon and Pitcher Partners, it was presumed that Maurice Blackburn would sue Slater’s advisors as a means to recover shareholder losses. Lee Taylor, special counsel at Maurice Blackburn, considered the settlement to be merely the first tranche of a much larger potential recovery.
