Woodsford Litigation Funding in the US

The opening of the first United States office was announced by Woodsford Litigation Funding in July 2017. The funder follows the steps of other investors in the market such as Bentham IMF, Vannin Capital and Burford Capital. The funder said the expansion was a natural outcome of having already funded a number of US cases.

Woodsford managed to employ a team of experienced litigators to its US advisory panel. Many of them are former members of the federal judiciary. And it is a common case, in the US, for them to take up posts within law firms. For instance, Shira Scheindlin, former US District Court judge for the Southern District of New York, said that she was pleased to join Woodsford as it brings its international expertise to the United States.

Read full article at cdr-news.com

Summarized by Natalia Tsar.

Litigation Finance: Big Law Exit?

Nowadays, joining the litigation funding industry seems to be a popular route when leaving Big Law. There are a lot of examples of funders growing their operations by raiding it. From their point of view, enlisting people from Big Law may be positive as they get the dual benefit. On the one hand, they hire someone who can quickly point out the strengths and weaknesses of a case. On the other, they employ someone who can source deals from former colleagues. But what’s the draw for the attorneys? The answer lies in the number of working hours.

Read full article at Americanlawyer.com

Summarized by Natalia Tsar.

Shattercane class action

In the Queensland-NSW shattercane class action: the plaintiffs have just weeks to secure backing of $160,000 or “that’ll be the end of it”. 30-plus farmers have now registered their interest in the class action. Their claims vary markedly. There is a number of the funders, who have all indicated a great interest in the matter. But until they do their due diligence and are satisfied the risk is worth it, it’s akin to going to the bank for a loan and getting approval in principle.

Read full article at Northerndailyleader.com

Summarized by Natalia Tsar.

Litigation Funding Transaction

One of the problems related to third-party litigation funding arises when a litigant and its counsel provide information to a funder about the substance and viability of their case. It creates a risk of waiving the attorney-client or work product privileges. Most courts have held that a litigant’s disclosure to a funder does not waive any privileges. However, some basic precautions should be taken to protect the privileged information. There are some steps helping to prevent the waiver of attorney-client and work-product privileges in a litigation funding transaction.

Read full article at Litigationfinancejournal.com

Summarized by Natalia Tsar.

Third-party litigation funding is used by companies

Normally, litigation loans have been the purview of people fighting against large insurance companies.  Nowadays, corporations tend to use third-party litigation funding as an instrument to take the pressure off their legal budgets. Meanwhile, investment firms are considering the area as a target.

Commercial litigators are trying to manage financial risk associated with litigation. They tend to view it in accounting terms and even as an investment. Lawyers are concerned that using litigation funding as a vehicle for profit may harm the major goal of providing access to justice.

Read full article at LawTimesNews.com

Summarized by Natalia Tsar.