Global dispute funder, IMF Bentham Limited, and Boies Schiller Flexner LLP (BSF), one of the leading litigation and arbitration firms in the world, have announced their agreement to provide up to US$30 million to fund international arbitrations globally or litigation in the US or UK for Vietnam-related cases. This is the first country-specific litigation funding deal for IMF Bentham in Asia.
Over the course of its years in the litigation finance industry, Bentham has developed funding criteria to guide its investment strategy. These criteria are tailored to each type of funding product Bentham offers, and, while they vary slightly by funding category, they are all designed with the common goal of helping to identify quality cases where the introduction of litigation funding can provide a fair, healthy return to all parties involved – claimant, lawyers, and funder.
IMF Bentham’s Chief Investment Officer (Asia), Tom Glasgow, explains developments in dispute finance in Asia (including jurisdictional nuances and funders’ investment criteria) and Managing Director and CEO of IMF Bentham’s global operations, Andrew Saker, discusses the expansion of funding products available.
IMF Bentham Executive Director and pioneer of the dispute finance industry, Hugh McLernon, shares insights into the origins of modern-day dispute finance and its global expansion.
Private Equity firms and their advisors are increasingly recognizing the value of partnering with experienced litigation funders. This blog post discusses some of the ways that litigation funding can add value to a PE manager's strategy.
The dispute finance industry is still at an early stage in India but is growing rapidly. Tom Glasgow, IMF Bentham’s Chief Investment Officer (Asia), was recently interviewed by VCCircle.com about third-party finance there.
IMF Bentham congratulates Mr John Sulan on his recent appointment as South Australia’s Reviewer of the Independent Commission Against Corruption (ICAC). This role provides independent oversight of the ICAC and the Office for Public Integrity, reporting to the South Australian Attorney General and Parliament’s Crime and Public Integrity Policy Committee.
As investment bankers realize how funding serves to leverage affirmative legal claims, which are commonly overlooked assets, they are seeking opportunities to connect their distressed clients with opportunities to transform claims into vehicles for immediate income and substantial future recoveries. Such opportunities can be impactful for distressed clients because they help to improve a company’s cash position and profitability.
Disputes that arise in the energy sector are invariably complex, high value and often cross-border in nature. Common examples include disagreements about the construction or operations of oil and gas extraction projects, power production projects, commodity contract disputes and joint venture disputes. These types of commercial disputes are increasingly referred to international arbitration.
One of the most significant challenges for in-house legal teams is resource and budget limitations. Costs budgeting by both sides in litigation has the potential to enable the Courts, as well as the parties, to better manage and control the costs of the litigation and to avoid the risk of costs becoming disproportionate to the claim size.
Litigation finance provides litigants and lawyers access to capital to pursue meritorious litigation where there is a substantial chance of a positive outcome. In exchange, the funder receives a return, usually via a multiple of its investment or a percentage of the recovery. Financing is non-recourse, which means that the funder receives a return on its investment only in the event the litigation is successful .
Bentham IMF Spotlight Series: IP litigation veteran Sarah Tsou discusses how litigation finance helps companies mitigate the financial risks of protecting their IP.
The number of investment treaty arbitrations filed in 2018 continued to grow. As more parties seek to file meritorious claims, demand for third-party funding for these arbitration claims will also continue to rise.
Claimants should exercise caution in seeking out litigation funding, paying particular attention to the funder’s track record of success, source and availability of capital, and history of disputes (if any) with claimants or their attorneys.
With analysts predicting that the economy will slow in the year ahead, companies may find litigation finance to be a useful tool in managing their legal spend.
Bentham IMF Spotlight Series: We speak to Los Angeles Investment Manager and veteran insurance recovery litigator, Fiona Chaney, on why companies and firms in the insurance recovery field should be aware of how #litigationfunding can make a successful impact on the bottom line.
The Ontario Superior Court recently approved a funding agreement whereby the funder will pay for class counsel’s legal fees as the case progresses, in exchange for a return at the conclusion of the case. This arrangement enables the matter to proceed where the client is not able to pay legal fees, and the law firm is not able to carry its fees throughout the case.
IMF Litigation Funding Services Limited (IMF LFS) is delighted to be ranked as ‘excellent’ by Leaders League for litigation and arbitration funding in the UK. IMF LFS is the European arm of leading global dispute funder IMF Bentham Limited, one of the oldest and most experienced commercial litigation funders in the world.
Litigation finance can serve as a powerful tool for law firms seeking to attract new clients or win plaintiff-side work from existing clients. Incorporating funding as an option in pitches submitted to secure work affords significant advantage to law firms. Among other benefits, funding helps clients reduce litigation risk, afford their top-choice law firm and improve their balance sheet.
As Australia’s pioneer of commercial litigation funding and leading funder, IMF Bentham has a particular insight into the current system. Class actions are particularly complex and costly. Each action involves different circumstances, considerations and issues. We think that some of the ALRC’s recommendations will benefit class members and improve the existing class action regime.
