Tag Archives: litigation

Litigation Reform Needed

Litigation Reform is needed to restrict lawsuits undermining conservation. Environmental advocacy groups have exploited federal laws with “sue and settle” arrangements that enrich trial lawyers at the expense of taxpayers. “The idea behind ‘sue and settle’ is to circumvent the normal regulatory, rule-making process so that environmental groups can achieve major policy changes without input from the public or Congress,” said IER president Tom Pyle. “When politically well-connected green groups get to call all the shots with compliant government officials, it leaves no room for accountability and transparency.”
During Obama presidency “sue-and-settle” agreements involving the Environmental Protection Agency and the Interior Department “almost quintupled”. Many of the largest environmental groups get significant rewards without any public disclosure regarding the cost to the taxpayers.
Kent Holsinger, the manager and founder of a Denver-based law firm named Holsinger Law that specializes in lands, wildlife, and water law, was one of several witnesses who appeared before the House Committee on Natural Resources on July 17 to testify on behalf of five new bills aimed at reforming the ESA. He is encouraging members of Congress to take up the Sunshine for Regulatory Decrees and Settlements Act of 2017 as legislative fix to the “abusive environmental litigation” made possible through the EAJA. The bill would require public notice of lawsuits and settlement agreements and provide for transparency in accounting for cost of these agreements.

Read full article at FreeBeacon.com

Summarized by Natalia Tsar.

Takata Airbag Lawsuit

The lawsuit in this matter was filed in the U.S. District Court for the District of Connecticut. It was alleged that a woman was killed when a faulty airbag device violently exploded during a moderate speed crash. The deceased victim was a passenger in a 2009 Toyota Corolla. Her husband, who was driving car, sustained minor injuries. This lawsuit was filed just after Takata filed for bankruptcy. The Connecticut lawsuit alleges Takata knew its airbags were defective.  It did nothing to solve the problem. The injured husband has a long litigation process ahead of him. He may have problems paying litigation costs. “In situations like that, the perfect answer in most cases is to apply for litigation funding,” said Darren Monroe, representative for Litigation Funding Corporation, Michigan.

Read full article at LawFirmNewsWire.com

Summarized by Natalia Tsar.

Minnesota AG Files Lawsuit

The Minnesota Attorney General has filed a lawsuit against two pension advance companies. It is alleged that the companies violated Minnesota lending laws by making loans to Minnesota borrowers without being licensed as a lender. The New York Attorney General states that a litigation settlement advance product is usurious. It indicates that pension advance companies and litigation funding companies have become targets of state and local regulators. Certain states are trying label cash advance providers as lenders and their products as loans, as opposed to direct purchases, which would subject them to state and local usury laws.

Read full article at Litigationfinancejournal.com

Summarized by Natalia Tsar.

$20 million financing deal

A $20 million financing deal has been signed with litigation boutique Lewis Baach by Woodsford Litigation Funding. It will offer clients an expedited, one-stop arrangement for the financing of high value litigation. The deal covers matters in any jurisdiction around the world where Lewis Baach Kaufmann Middlemiss offer contingency fee arrangements. Also, it will work where funding is required for the additional litigation expenses, including expert witness fees, e-discovery costs and court and tribunal fees. Brazilian funder, Leste Litigation Finance, also supports the international arrangement between the two. As part of a collaboration agreement announced in March, for any matters with a Brazilian element, Leste and Woodsford will regulate funding jointly.

Read full article at GlobalLegalPost.com

Summarized by Natalia Tsar.

Third-Party Litigation Funding Helps to Get Results

Third-Party Litigation Funding can help attorneys and clients get results.

Litigation process is often expensive. Some clients cannot afford litigation costs due to various reasons. In this case, litigation funding can pay substantial costs of pursuing a lawsuit from complaint to judgment.

Litigation financing can have similar benefits for attorneys. It provides them greater flexibility. It concerns the cases they take and the way they provide representation.

Meanwhile, it is important for lawyers to understand how to manage a litigation financing transaction. The general advice for a lawyer is not to become part of the loan process when suggesting to a client where he may try to get financial help for individual needs. The lawyer also needs to be careful about providing a litigation finance company with information or opinions about the prospects of the client’s case.

Read full article at Litigationfinancejournal.com

Summarized by Natalia Tsar.

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.

UK’s Commercial Court permits Third Party Litigation Funding Costs in Arbitration Proceedings

essar-v-norscotIn CL-2016-000188 Essar Oilfield Services Limited v. Norscot Rig Management Pvt Limited, the United Kingdom’s Commercial Court upheld a decision to reward litigation funding costs to the victor of an arbitration proceeding. The Court’s decision to award litigation funding costs was based on the Arbitration Act 1996, which states that an Arbitrator “may determine by award the recoverable costs of the arbitration”, including “the legal or other costs of the parties.”

This is seen as a landmark decision that will draw third-party funded parties more towards arbitration  than litigation.

See full article at Lexology

Summarized by Jonathan Winsley

 

Litigation funding company commits $1.7 million to a case against Chevron

therium-litigation-funding-icLitigation funders’ traditional cloak of confidentiality was recently ordered to be removed from a litigation funding firm by a federal judge presiding over the putative class action Gbarabe v. Chevron. 

The District Court for the Northern District of California granted Chevron’s motion seeking to require the plaintiff to produce a funding agreement between attorneys for the putative class and Therium Litigation Funding IC, whereby Therium invested $1.7 million in the outcome of the litigation.

In light of the class action nature of the litigation, the Court adopted Chevron’s argument that disclosure of the information regarding third-party funding was necessary to evaluate the adequacy of class counsel, which is one of the elements that a Court considers in determining whether a lawsuit should proceed as a class action.

See full article at LegalNewsLine.

Summarized by Jonathan Winsley