When you have a strong case you feel great about, you’re probably not thinking about litigation funding. But perhaps you should be. Aside from the inherent risks associated with all litigation, there are a host of reasons why funding should be considered—even when you’re feeling confident.
No one will ever accuse Aussie law firm Maurice Blackburn of not being proactive. The class action king (Maurice has filed the most in Australia) is pursuing a class action claim against banking giant NAB, and plans to use a contingency-fee model. There’s just one wrinkle here: contingency-fee arrangements aren’t legal in Australia. The state of Victoria is mulling legislation that would legalize such arrangements, but hasn’t passed the final bill yet.
SYDNEY, 14 February 2020: IMF Bentham Limited (ASX:IMF) and Omni Bridgeway are excited to announce that IMF Bentham Limited is adopting the unified global name of Omni Bridgeway Limited, following a shareholder vote at the company’s General Meeting on 14 February 2020.
AMSTERDAM, 23 January 2020: Omni Bridgeway and IMF Bentham Limited (ASX:IMF) are delighted to announce the addition of veteran commercial lawyer, Mr Maarten van Luyn, to the company’s expanding Europe team. Maarten joins as Director of Collective Redress, based in Amsterdam, where he will source, assess and manage high value strategic litigation finance solutions throughout Europe, with a focus on group claims and LegalTech solutions for group claims.
Last week, we reported on the contentious back-and-forth between litigation funders LPF Group and IMF Bentham. LPF accused IMF of muddying the waters with a potential shareholder action against failed insurer CBL, whom LPF is already bankrolling an action against. Now, IMF Bentham has formally stepped into the fray, after law firm Glaister Ennor filed a shareholder action which the Aussie-based funder is backing on a no-win, no-fee basis.
Litigation funder LPF Group is funding a shareholder class action against the now-defunct insurance company CBL Corp., as well as its former directors. LPF has complained to ASIC, an Australian regulator, about rival funder IMF Bentham’s proposed action, which may end up targeting only CBL and not the former directors.
National Australia Bank (NAB) is facing a myriad of regulatory actions and lawsuits which is leaving company executives in a lurch. After voluntarily self-reporting potential compliance issues to regulators, the bank announced to shareholders in its annual report that it is facing mounting legal and financial pressure in the wake of revelations from the Hayne Royal Commission.
SYDNEY (November 11, 2019) Leading dispute resolution financier IMF Bentham Limited (IMF Bentham) (ASX:IMF) announces that it has completed the merger with Omni Bridgeway Holdings BV (Omni Bridgeway) previously announced on October 15, 2019.
SINGAPORE (11 NOVEMBER 2019) IMF Bentham Limited (ASX:IMF) is delighted to announce that on Monday, 4 November 2019, Ms Ruth Stackpool-Moore joined our expanding global team as Investment Manager, based in our Singapore office.
SYDNEY (October 15 2019) Leading litigation and disputes funder IMF Bentham Limited (IMF Bentham) (ASX:IMF) announces that it is acquiring Omni Bridgeway Holdings BV (Omni Bridgeway) to create a truly global diversified funder with over A$2.2 billion in capital to fund disputes and enforcement proceedings of significant size and complexity throughout the world.
IMF Bentham is funding a shareholder class action against New Zealand-based CBL Corp., claiming the company failed to disclose that the Reserve Bank of New Zealand had been investigating its solvency for several years. CBL has since entered liquidation, leaving many shareholders out in the cold.
PERTH, AUSTRALIA, 8 AUGUST 2019: In response to a (short) report issued by a US investment firm on 7 August 2019 on Burford Capital Limited (Burford), leading global dispute resolution financier and industry founder, IMF Bentham Limited (ASX:IMF), notes the following in relation to IMF’s accounting policies and disclosures.
SYDNEY, AUSTRALIA: 11 MARCH 2019: Backed by Australia’s leading litigation funder, IMF Bentham Limited (ASX:IMF), thousands of Australian retirees, who lost everything after investing in a forestry scheme in the 1980s, will finally get their day in court against IOOF. The Supreme Court of NSW has scheduled the hearing over eight days from 1 July.
SYDNEY (31 January 2019): Leading global litigation and dispute financier IMF Bentham Limited (ASX: IMF) (IMF) announced today it is approaching investment targets for two of its funding vehicles ahead of schedule and has successfully increased the capacity of these vehicles to meet strong market demand for investment funding.
(LONDON, UNITED KINGDOM 22 January 2019): IMF Litigation Funding Services Limited (IMF LFS), a wholly owned subsidiary of IMF Bentham Limited (ASX:IMF) (IMF), one of the world’s largest and most respected litigation funders, announced today a proposed shareholder action for shareholders of Danske Bank A/S (CPSE:DANSKE) (Danske Bank), to be led by specialist Danish law firm NJORD Law Firm and leading global litigation law firm Quinn Emanuel.
