Connolly Gallagher to Speak at the Litigation Funding Conference in New York City on April 28, 2017

PRESS RELEASE – April 18, 2016

New York, NY–Ticonderoga Ventures, Inc. announces that Ryan Newell (http://www.connollygallagher.com/attorneys/ryan-newell/), Partner from Connolly Gallagher LLP will speak at the Litigation Funding Conference http://litigationfundingconference.com/.

Ryan will speak on a panel covering attorney & corporate counsel experiences with litigation finance.

Video:


ABOUT CONNOLLY GALLAGHER LLP

Connolly Gallagher LLP, with offices in Wilmington and Newark, Delaware,consists of highly-respected and experienced Delaware attorneys who each possess deep knowledge in complementary practice areas—commercial litigation, corporate counseling, government law, bankruptcy and business reorganization, wealth planning, commercial real estate, employment law, and family law. For more information, please visit http://www.connollygallagher.com.

Ryan represents clients who are faced variety of business law issues, both in and out of litigation. In litigation, Ryan has represented parties in corporate and commercial litigation in the Delaware Court of Chancery, the Delaware Superior Court, the Delaware Supreme Court, and the District of Delaware. He has also represented parties as Delaware counsel in intellectual property litigation in the District of Delaware. While the bulk of his practice is focused on these types of commercial litigations, Ryan has experience representing government entities and parties in trust litigations. In particular, Ryan was part of a team that successfully defended the State of Delaware before the United States Supreme Court in an original jurisdiction action brought by New Jersey that challenged Delaware’s sovereignty over the Delaware River within its historic Twelve Mile Circle.

Outside of litigation, Ryan advises companies and their principals in matters concerning Delaware corporate governance and other Delaware commercial law issues. He is also a Delaware Superior Court certified mediator and has been appointed by the Court of Chancery and Superior Court as a Special Master and an assistant to a Special Master. Ryan has also completed The Sedona Conference’s eDiscovery Negotiation Training program, which is an invitation only program. Ryan has received an AV Preeminent® Peer Review Rating, which is Martindale-Hubbell’s highest rating for lawyers. In 2015 and 2016, he was selected by other Delaware attorneys as one of Delaware’s Top Lawyers.

ABOUT THE LITIGATION FUNDING CONFERENCE

The Litigation Funding Conference is an intense networking event for third party litigation funding firms, venture capitalists, hedge funds, corporate counsel and attorneys from significantly sized law firms seeking finances for high value claims. Financial professionals and investors representing significant resources to capital will be present to fund suits they are expressly interested in.

Time, the most valuable commodity at the event, is designed for maximum efficiency in introducing attorneys with those that provide funding to quickly identify the best opportunities and begin the deal making process.

Registration for the event can be made at http://lf2017.com/register-nyc-2017.php

 

IMF Bentham Expands to Singapore

IMF Bentham SingaporeAustralian litigation funder IMF Bentham will be opening an office in Singapore.

The move comes after a change in its laws. The country now allows litigation funding in international arbitrations taking place in Singapore. Therefore Bentham has been seeing an increased demand across Asia.

That’s why Bentham hired Tom Glasgow to head its new office. Glasgow is a former senior associate at Allen & Overy’s international arbitration group in Hong Kong and Singapore.

As similar laws are being considered in Hong Kong, Glasgow sees potential for long-term growth in both markets.

Read full article at Australasianlawyer.com.au

Summarized by Meghan Hallinan

Therium Launches Full-Service Operations in Germany

Global litigation financing company Therium will be opening an office in Dusseldorf, Germany. This will be the first full-service litigation funding office in Germany. This company is among the top litigation financing companies in the world, with over $300 million in committed capital.

The company identified Germany as a substantially growing market for litigation funding. Germany has an increasing number of commercial and corporate disputes within a regulatory environment, which have grown more complex over the years.

Therium sees a demand for funding cases across financial services, securities disputes, cartel damages situations, insolvencies, post M&A matters, and shareholder disagreements, particularly those arising out of joint ventures.

Summarized by Marc Lesnick

Read full article at here

Burford Capital seventh consecutive year of double-digit growth

Burford Capital reported at 75% increase in net profits in 2016.

Buford is known as the world’s largest litigation financing company. This is now the funder’s seventh consecutive year of double digit growth. Buford’s total income rose 59%, from $103 million in 2015 to $163.4 million in 2016.

Buford had record investment recoveries of $216 million, up from $146 million in 2015. The increase was driven by a 60% lift in litigation investment income. The funding giant’s growth is indicative of the growing and evolving industry of litigation funding.

Read more news about Burford Capital here

Summarized by Jonathan Smith

Read full article at lse.co.uk

Burford To Recover $50 Million From Rennert Judgment

Burford Capital (LSE:BUR) buys Gerchen Keller Capital for USD $160 MillionThe Second Circuit Court of Appeals sustained a $213 million judgment against Ira Rennert relating to the bankruptcy of his company Magnesium Corp. of America. While the appeal was pending last year, the trustee auctioned off part of the judgment.

Gerchen Keller and Burford Capital

Gerchen Keller won the auction, paying $26.2 million for the right to the first $50 million of recovery. Burford has since acquired Gerchen Keller for $175 million last December. Burford will now be able to recover as the Second Circuit affirmed the 2015 jury verdict against Rennert. The jury found Ira fraudulently conveyed $100 million from Magnesium Corp. prior to bankruptcy proceedings initiated in 2001.

Rennert is now liable for that amount plus interest in order to repay Magnesium Corp.’s creditors.

Read full article at Forbes.com

Reviewed by Marc Lesnick.

Litigation Funding in Arbitrations may be allowed in Hong Kong and Singapore

Hong Kong and Singapore are in the process of amending laws which will allow litigation funding. The proposed amendments will allow third-parties to fund arbitrations seated in these cities. Despite the fact that Singapore and Hong Kong are among the top locations for arbitration globally. Their current laws prohibit litigation financing.

Litigation Funding in Hong Kong

The Hong Kong Law Reform Commission first proposed an amendment to allow third-party funding in October 2015. Over a year later, a bill to that effect was published in the Government Gazette. The bill was formally introduced in Hong Kong’s Legislative Council in January 2017 at its “first reading.” The next step is the second reading, where a vote will take place. The date has not been announced yet. But the law is expected to take effect this year.

The bill amends the Arbitration Ordinance, the current law applicable to domestic and international arbitrations in Hong Kong. The amendment provides that the laws of maintenance, champerty, and barratry will not apply to third-party funding in arbitrations. The proposed law also provides for certain standards and requirements needed to provide or access funding in these cases.

Litigation Funding in Singapore

Singapore published its amendment in the Government Gazette in February 2017. Singapore Parliament approved the law, the Civil Law (Amendment) Act 2017, in January 2017. The law will abolish maintenance and champerty laws in Singapore and permit third-party funding in certain categories of dispute resolution proceedings. The new law takes effect on March 1, 2017.

Singapore’s amendment comes with associated regulations and rules of professional conduct. The regulations provide a list of criteria third-party funders must meet in order to provide financing. One such requirement is that the third-party must be in the “principal business” of litigation funding. The regulations also set out certain categories of cases where third-party funding will be allowed. As for professional conduct, one new rule requires attorneys to disclose any funding agreements to the relevant court or tribunal. The identity of the third-party funder must also be disclosed.

Read full article at AboveTheLaw.com

Summarized and reviewed by Jim Smith.

Class Action Litigation Act Would Require Disclosure of Litigation Funding in Class Action Cases

The House Judiciary Committee recently approved the newly introduced Class Action Litigation Act of 2017. It is known that the Act was proposed by House member Bob Goodlatte (R-Va) in an attempt to provide greater protections to plaintiffs in class action cases, particularly with respect to abuses of the class action system by class counsel.

What does the Class Action Litigation Act require?

Notably, the Act would require class counsel to disclose any third-party litigation funding. The idea is that disclosure would reveal who is really driving the litigation. Though the Act has yet to be voted on by the House or the Senate but has received support from the Chamber of Commerce and other organizations.

Read full article at Jdsupra.com

Reviewed by Marc Lesnick

IMF Bentham Launches $200 Million Funding Vehicle

IMF BenthamThe Australian litigation funding giant IMF Bentham launched a $200 million investment vehicle to finance United States cases and investments.  Thus Bentham invested $50 million and an unnamed hedge fund invested $150 million.

The IMF Bentham funding vehicle

The funding vehicle was raised by IMF Bentham on behalf of its U.S. subsidiary, Bentham IMF. This is IMF Bentham’s first investment vehicle. Bentham IMF’s CEO stated that the vehicle is indicative of investor confidence in litigation financing and Bentham’s position as a top company in the litigation financing industry.

View full post at LawGazette.co.uk

Reviewed by Meghan Hallinan.

University of Michigan to Invest in Litigation Funding

The University of Michigan is in talks to invest $5 million of its endowment in litigation funding.

The university plans to invest with Lake Whillans, a litigation funding company, with the goal of receiving a portion of proceeds from successful cases. According to Lake Whillan’s website, the company invests in meritorious commercial claims with realistic damages in excess of $20 million. The investment is part of the University of Michigan’s aim to diversify its portfolio by investing in areas where returns are independent of financial markets.

Last year, the university invested in real estate, credit, and energy funds. The university’s endowment was valued at $10.5 billion at the end of 2016.

View full post at Bol.bna.com

Summarized by Marc Lesnick

 

UK Litigation Funders Assets Rise 25 Percent Last Year

Recent research revealed the assets of the top 20 UK litigation funders rose 25 percent last year alone.

Their balance sheets totaled £723 last year, up from £575 in 2015. This also represents a 55 percent increase since 2011. The increase coincides with Burford Capital’s recent acquisition of Gerchen Keller Capital, which will total its combine assets at $1.2 billion.

The release of these numbers highlights just how fast the litigation funding industry is growing and becoming recognized as a lucrative investment opportunity.

View full post at SolicitorsJournal

Summarized by Matthew Dunes