News & Blog
Australia-based third party litigation funder Bentham IMF is expanding to Texas, and has hired Eric Chenoweth, a seasoned commercial and intellectual property litigator, to lead its Houston office.
Research from RPC, featured in the Solicitors Journal shows a recent increase in third party litigation funder’s commitments to legal claims in the UK. From 2015 to 2016 investments increased 25% from £575m in 2015 to £723m in 2016.
By: Scévole de Cazotte
Despite their publicly stated concerns over the future of the European market, Elliot Management, an American hedge fund, has not shied away from investing in Europe – or at least in their litigation.
Australian Attorney-General Martin Pakula has asked the Victorian Law Reform Commission to review the rules governing third party litigation funding to “prevent unfair conduct in civil proceedings, such as class actions” according to the Australasian Lawyer.
On December 20, 2016, Lord Hodgson of Astley Abbotts submitted questions for written answer to Her Majesty’s Government regarding the regulation of third party litigation funding (TPLF) and the effectiveness of the Consumer Rights Act.
London-based third party litigation funder Burford Capital Ltd. purchased US-based Gerchen Keller LLC to form the largest litigation funding firm in the market. The combined firm will operate under Burford’s name, and has $1.2 billion in investment assets and commitments under management according to the Wall Street Journal.
By: Scevole de Cazotte
Last month, the Hong Kong Law Reform Commission (LRC) released a Report on Third Party Funding for Arbitration which calls for “light touch” regulation and disclosure of third party funding in arbitration. While this is an important first step and may lead the way to global recognition of the need for meaningful oversight in the litigation funding industry, “light touch” regulation will not suffice. The Hong Kong Legislative Council should strongly consider adopting litigation funding rules that ensure proper enforcement.
By: Mary H. Terzino
California and England are a continent and an ocean apart, but courts in both locations recently agreed that third party litigation funding is subject to disclosure when the adequacy of financial resources is at stake.