Therium-Backed Class Action Against Lloyd’s Bank Set to Begin on Wednesday
A UK High Court is set to begin hearing a £600m class action involving shareholders of Lloyd’s Bank, who allege that the bank’s malfeasance led to the rescue of HBOS during the height of the financial crisis, a decision that ultimately caused shares to plummet….
Bentham IMF Launches Bankruptcy Funding Platform with Addition of Investment Manager; Hires Corporate Counsel in New York
NEW YORK (October 16, 2017) — Leading commercial litigation funder Bentham IMF is launching a new bankruptcy litigation funding platform to help debtors, creditors and other stakeholders involved in commercial disputes. The initiative will be led by New York bankruptcy lawyer Ken Epstein, who joins the company as an investment manager and legal counsel. Mr. Epstein was formerly…
Scottish Law Firm Anderson Strathern Launches Its Own Lit Fin Fund
Edinburgh-based law firm, Anderson Strathern, has announced the launch of its very own litigation funding business. Alba Claims, to be led by chairman Bruce Farquhar and solicitor advocate Alistair Dean, is intended as both an alternative source of capital and as an opportunity to expose the firm to a wider array of clientele….
Litigation Finance is Booming in Canada, eh.
Litigation finance popped up in the UK around 20 years ago. A decade later, its wings have been spread across the US. So it was only a matter of time before our neighbors to the north got in on the action.
With Bentham maintaining an office in Toronto, and local shops popping up all the time – such as Nomos, a Toronto-based commercial claims funder – Canada is a hotbed of litigation finance. In a sign of just how ‘on-the-radar’ the sector has become, the new Canada-EU free trade pact includes provisions for third-party funding, and even outlines what needs to be disclosed to the tribunal and what doesn’t.
CPA Global Settles With Plaintiff in Patent Overcharging Case That Foreshadows Possible Bentham-Backed Lawsuit
Medical diagnostic company CPA Global has settled with plaintiff Run Them Sweet in a patent overcharging case, with CPA Global agreeing to pay $5.6 million in a settlement in which no fault was admitted. The settlement is noteworthy because in September, law firms Kobre & Kim and Baker & Partners have joined forces with litigation finance company Bentham…
Funding in Focus: Vannin Capital
Vannin Capital is one of the premier litigation finance institutions in the world. Recently, Vannin released their 2017 ‘Funding in Focus’ newsletter. One of the articles was written by Maxim Osadchiy, an Associate with Freshfields Bruckhaus Deringer, who is on a 6-month secondment at Vannin.
Osadchiy discusses how Vannin goes about selecting cases, the ensuing diligence process, and the metrics that are most crucial to the firm’s investment thesis.
Therium-Backed Class Action Against Lloyd’s Bank Begins Next Wednesday
London law firm, Harcus Sinclair, has been preparing for this moment for a long, long time. A class action by shareholders against key directors of Lloyds bank has been in the works for several years, and is set to go forward on Wednesday of next week….
Is Consumer Legal Funding a loan? Why does it matter?
Opponents of Consumer Legal Funding have been working overtime to classify the product as a loan within the confines of State Legislators.
You may ask yourself, ‘so why does this matter?’
The classification of Consumer Legal Funding as a loan is more than mere semantics. Consumer Legal Funding is the purchase of an asset; that being a portion of the proceeds of the consumer’s legal claim. This form of investment allows the consumer to access much needed support in order to obtain the financial assistance they need while their claim is making its way through the system.
In David vs. Goliath, Which One is Litigation Finance?
From publicly traded companies to private equity funds, from single-case investments to portfolio financing, from crowdsourcing platforms to algorithm-based startups, litigation finance has taken the world by storm. And investors of all stripes have taken notice. State public pensions, university endowments, large asset managers, nonprofit foundations and large family wealth management offices have all invested – either publicly or privately – in the litigation finance space.
For an industry that has long touted itself as benefitting the Davids of the world in their legal battles, it seems litigation finance is becoming a Goliath all on its own.
The Growing Acceptance of Litigation Finance
Get ready for some late-night litigation finance infomercials! A recent study by ALM Media, publishers of the Daily Report, claims that 36% of U.S. law firms used litigation finance in 2017, compared with 28% at the previous year, and just 7% in 2013. The industry seems to be growing more popular by the minute. At…
