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Sean Coffey Launches New Litigation Finance Firm with Juridica Co-Founder, Vows to Move Beyond ‘Litigation Funding 1.0?
Former securities litigator co-founds BlackRobe Capital, an investment management firm that invests in litigation.
UK: Litigation Funder Juridica ‘Does Not Invest in Class Actions’
UK litigation funder clarifies it does not invest in class actions.
New Zealand: LPF Group Formed to Fund Litigation
In New Zealand, a new litigation funder called LPF Group has been formed to to help investors fund legal action against companies and directors. According to Brian Gaynor of the New Zealand Herald, LPF Group may provide funding in situations including “receiverships, breaches of continuous disclosure rules, insider trading, inaccurate prospectuses and valuations, related party [...]
Australia: IMF to Fund Class Action vs. Lehman Brothers Australia
In Australia, litigation funder IMF intends to fund a $1.2 billion class action on behalf of investors that have suffered losses after investing with Lehman Brothers Australia. The Age reports that IMF said the action could benefit up to 600 investors that bought complex debt securities that have plunged in value. The Age reports that [...]
Litigation Funding Starting to Pay Off
The UK-based fund Juridica continues to enjoy nice returns investing in litigation. As discussed in a recent article in Fortune, Juridica, which is traded on London Stock Exchange’s small-companies market, funds “Fortune 500-size companies or their lawyers in the early stages of corporate lawsuits in exchange for a share of the payout if the plaintiffs win or settle.”
Australia: Busy Times for Class Action Litigation Funder IMF (Australia)
In Australia, phones are ringing off the hook at class action litigation funder IMF (Australia) Ltd. IMF board member Hugh McLernon says IMF has experienced an “exponential” rise in the number of calls from shareholders who believe they have a claim against corporations since the bear market began, WA Today reports. IMF, Australia’s largest litigation [...]
UK: Litigation Funder Juridica Seeks to Cash in on “Unsophisticated and Relatively Naïve” Litigation Market
A closed ended fund in the UK called Juridica is looking for big returns investing in what it believes to be “an unsophisticated and relatively naïve” litigation market, the FT reports. “Cases are expensive to fund; there should be room for private capital,” says Neil Woodford, head of investment for Invesco Perpetual UK, which has [...]
UK: Joint Venture Seeks to Raise Over $300 Million to Fund Corporate and Investor Litigation
In the UK, litigation insurance broker ILF Limited and alternative assets adviser IGS Group announced yesterday a joint venture to raise funds to invest in corporate litigation cases. Reuters reports that the joint venture called Independent Litigation Funding LLP will aim to raise up to eight new funds this year, each of around 20 million [...]
Australia: “Top 10 Developments in Commercial Litigation in 2008″
A couple of specific points of interest for Securities Docket readers from an article by Clayton Utz lawyers entitled, “Australia: Top 10 Developments In Commercial Litigation In 2008:” 2. The rise and rise of litigation funding 2008 was a bumper year for litigation funders. The Aristocrat class action was settled for a record $145 million [...]
Australia: Value of IMF’s Pending Securities Class Action Claims Triples Since 2007
In Australia, the value of securities class actions led by litigation funder IMF has tripled since 2007, increasing from $400 million in 2007 to more than $1.2 billion at the end of 2008. The Australian reports that IMF now has seven securities actions under way: Sons of Gwalia, Ion, Aircargo, Centro, Westpoint, AM Corporation and [...]