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Archive | Litigation Funding

Report: Litigation Funding Is One Reason for Increasing Costs of Australian Insurance Claims

February 27, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Report: Litigation Funding Is One Reason for Increasing Costs of Australian Insurance Claims

A.M. Best last week posted an interview with Laura Coppola, North American head of management liability for Allianz Global Corporate & Specialty.  In the interview available on A.M Best’s “BestTV” (available here), she said that one reason for increased commercial claims in Australia is the backing of litigation funding companies.  Said Coppola: “One of the culprits that we’ve seen […]

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Legislation Would Require Disclosure of Litigation Funders in Class Action Matters

February 25, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Legislation Would Require Disclosure of Litigation Funders in Class Action Matters

Earlier this month, a bill entitled the Fairness in Class Action Litigation Act of 2017 (H.R. 985) was introduced in Congress.  The bill is aimed at reforming federal class actions in many ways.  One of those ways would require that class counsel disclose third-party litigation funding. The [Fairness in Class Action Litigation] Act would require class counsel to promptly […]

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Federal Court Decides That Litigation Funders Can ‘Stay In The Shadows’

January 29, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Federal Court Decides That Litigation Funders Can ‘Stay In The Shadows’

Litigation funding companies “can continue their work almost entirely in secret” in the United States District Court for the Northern District of California, which this week “rejected a proposed rule change that would have required attorneys to disclose when their cases receive backing from third parties,” the San Francisco Chronicle reported yesterday. The court had considered […]

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Litigation Funding Arrangement Gave Company Too Much Control, Violated North Carolina’s Public Policy Against Champerty, Says Court

January 26, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on Litigation Funding Arrangement Gave Company Too Much Control, Violated North Carolina’s Public Policy Against Champerty, Says Court

A federal court judge last week refused to approve a litigation financing arrangement because it was champertous. The court in In Re DesignLine Corp., Case No. 13-31943/Case No. 13-91944, 2017 Bankr. LEXIS 182 (Bankr. W.D.N.C. Jan. 20, 2017), said that a bankruptcy trustee’s arrangement with a litigation funding company violated North Carolina’s public policy against […]

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News Report: Litigation Funders’ Lawsuit Says New York AG’s Attempt to Recoup Fees Paid by 9/11 Victims Would Hurt Business

January 06, 2017  |   Posted by :   |   Litigation Funding   |   Comments Off on News Report: Litigation Funders’ Lawsuit Says New York AG’s Attempt to Recoup Fees Paid by 9/11 Victims Would Hurt Business

The New York Post this week reported that a litigation funding company has filed a lawsuit against New York’s Attorney General over his “attempt to recoup $1.6 million in ‘excessive’ fees paid by 9/11 victims for cash advances on government payments.” The report (9/11 Fee Lawsuit) also says that RD Legal Funding Partners’ lawsuit against New […]

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Wall Street Journal Describes Litigation Funding Situation Involving Investor Lawsuit Against Fund

December 09, 2016  |   Posted by :   |   Litigation Funding   |   Comments Off on Wall Street Journal Describes Litigation Funding Situation Involving Investor Lawsuit Against Fund

The Wall Street Journal this week, reporting on an lawsuit against a private equity fund that is being financed in part by a major investor in the fund, described some of the issues relating to litigation funding schemes. A major Dutch investor lost $60 million when a Carlyle Group LP fund collapsed in March 2008. […]

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Ruling from Court in United Kingdom Expands Liability for Litigation Funders

November 21, 2016  |   Posted by :   |   Litigation Funding   |   Comments Off on Ruling from Court in United Kingdom Expands Liability for Litigation Funders

American Lawyer last week reports that “a rare court ruling on the liability of litigation funders” from the English Court of Appeal “increases the exposure of funders in U.K. cases that don’t succeed.” The report added that “While the ruling will not affect litigation funding arrangements for U.S. cases, it does reveal details of the underlying funding agreements, […]

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Gawker Settlement Seeks to End Dispute That Put Spotlight on Litigation Financing

November 05, 2016  |   Posted by :   |   Litigation Funding   |   Comments Off on Gawker Settlement Seeks to End Dispute That Put Spotlight on Litigation Financing

Hoping to bring to an end a saga that brought considerable attention to the practice of litigation funding, website Gawker has reached an agreement to settle its lawsuit with former wrestling figure Hulk Hogan. Insurance Journal this week reported that “Shuttered irreverent news website Gawker Media LLC has reached a $31 million cash settlement with Hulk Hogan, […]

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New York’s Highest Court: Champerty Bars Attempted Acquisition of Lawsuit

October 29, 2016  |   Posted by :   |   Litigation Funding   |   Comments Off on New York’s Highest Court: Champerty Bars Attempted Acquisition of Lawsuit

New York’s highest court declined to reinstate breach-of-contract and fraud claims against an asset manager accused of making bad mortgage-based investments, finding that the suit represented a violation of the state’s champerty doctrine. So reported the New York Law Journal, describing the ruling this week by the New York Court of Appeals in Justinian Capital […]

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Litigation Funders Look to Expand to Law Firm Investing in the U.K., Leading Some to Express Concerns, Opposition

October 25, 2016  |   Posted by :   |   Litigation Funding   |   Comments Off on Litigation Funders Look to Expand to Law Firm Investing in the U.K., Leading Some to Express Concerns, Opposition

The litigation funding industry is looking to expand into taking equity stakes in law firms, at least in the United Kingdom, according to a recent Law.com article. “Litigation funders Burford Capital and Woodsford Litigation Funding told Law.com they intend to invest in U.K.-based firms that are allowed to have nonlawyer owners, something that remains against […]

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