Parabellum Launches Special Situations Group, Hires Martin “Marty” Flics as Director
New York, NY, July 10, 2018 – Parabellum Capital LLC (“Parabellum”), a leader in litigation finance, today announced the launch of its Special Situations Group, welcoming Jarvis Buckman as Director of Special Situations. Parabellum also announced that bankruptcy veteran Martin “Marty” Flics has rejoined the Firm as Senior Bankruptcy Advisor.
Squire Patton Boggs Looks to Add Fraud and Deceit Claims in Fitch Class Action
A Squire Patton Boggs attorney traded barbs with a Fitch barrister during an interlocutory hearing on the law firm’s attempt to add Fraud and Deceit charges to the class action filed against Fitch ratings agency. The underlying action – funded by International Litigation Funding Partners – alleges that Fitch gave false ‘AAA’ and ‘AA’ ratings…
Boutique Law Firm Pierce Bainbridge – No Stranger to Litigation Finance – Expands in NYC
LA-based Pierce Bainbridge Beck Price & Hecht, which announced in March a new office in NYC, has today announced 13 new hires, 8 of them Partners. Last year, Pierce Bainbridge – then Pierce Sergenian – partnered with Scottsdale, Arizona-based litigation funder Pravati Capital, in what may have been the first publicly-announced partnership between a law firm…
In Landmark Australian Case, International Litigation Funding Partners Agrees to Slash Payout Rate
The litigation funder involved in a landmark case in Australia has agreed to slash its funding rate from a 32.5-35% range down to 23.2%. As part of the proposed deal, International Litigation Funding Partners will forego $12.3-$15.6 million in payout that will now go directly to class members….
Swimming with Sharks: Is the Consumer Legal Funding Industry Getting a Bad Rap?
In a recent op-ed for The Irrelevant Investor titled “The Sharks Are Circling,” Michael Batnick, Director of Research at Ritholtz Wealth Management, argues that Wall Street’s recent capital influx into the world of Consumer Legal Funding signals that the industry is ripe for regulation. After pointing to a recent NY Times article on the finance sector’s investment in the Consumer Legal Funding industry, Batnick proposes a rather provocative question: “Why do they need to be here in the first place?”
The answer is obvious, and one that Batnick himself acknowledges; that being the wider investment community’s thirst for returns which aren’t correlated with traditional markets. However, Batnick goes on to make a case that others have made — that the industry ‘preys on the vulnerable’ in order to reap hefty profits. Is he correct in his characterization? Are Consumer Legal Funders – and by extension the hedge funds and Wall Street investors who are financing them – sharks in the water? Or is the entire industry merely getting a bad rap?
Burford Capital Managing Director Craig Arnott Touts Portfolio Funding, Predicts Industry Attrition Within 5 Years
Burford Capital Managing Director Craig Arnott, who has over 20 years of experience in commercial litigation and advisory work, claims portfolio funding will continue to surge in popularity due to the inherent risk of single case financing. Arnott also questioned the ability of funders to stay afloat over the coming years, and predicted fund closures…
Augusta Announces £150M Financing Round, Signals Global Expansion
UK-based Augusta Ventures, which also maintains an office in Sydney, Australia, has announced a £150M financing round from institutional and private investors. Augusta said the funding will help fuel its overseas expansion, as the firm looks to tap markets in the EU, Canada, Hong Kong, Singapore and the Caribbean….
IMF Bentham Launches Representative Action Against Facebook for Privacy Breaches
PERTH, AUSTRALIA (10 July 2018) – IMF Bentham Ltd (ASX:IMF) and a leading Australian law firm have lodged a representative complaint with the Office of the Australian Information Commissioner (OAIC) seeking, among other things, compensation for Facebook users arising from Facebook’s alleged breaches of the Australian Privacy Principles contained in the Privacy Act 1988. The alleged breaches surround the circumstances in which a third party, Cambridge Analytica, gained unauthorised access to users’ profiles and information. The complaint seeks financial recompense for the unauthorised access to, and use of, their personal data.
Noah Wortman Joins IMF Bentham’s Global Team
SYDNEY, AUSTRALIA (10 July 2018) – IMF Bentham Limited (ASX:IMF) is delighted to announce that on Monday, 2 July 2018, Mr Noah Wortman joined our expanding global team as Business Development Manager (Global Investor Recoveries).
Therium and Ferguson-Backed VW Claim Kicks Off in UK
Volkswagen has filed papers in a UK High Court, denying the company acted to deceive customers by installing a ‘defeat device’ in its vehicles, which enabled them pass emissions tests. Slater & Gordon, the law firm representing the claimants, has accused VW of insulting consumers’ intelligence….
