March 1, 2021

Legalist welcomes former litigator at Bernstein Litowitz Berger & Grossmann, Jared Danziger, as the company's newest Investment Counsel.
Tom Handley has been appointed as a director at Provenio Litigation LLP, a Liverpool-based litigation practice that recently announced the launch of a £50m fund in partnership with leading global litigation funder Therium to finance high value litigation and arbitration claims. Tom was formerly CEO at Exchange Chambers.
Litigation Capital Management Limited (AIM:LIT) has secured a US$50 million credit facility with Northleaf Capital Partners to provide the company with additional investment capital. Northleaf is a global private markets investment firm with experience in the litigation finance sector. The credit facility, which is secured against LCM's assets, is available for general corporate purposes and has an overall term of four years. The coupon comprises a LIBOR based rate of 8% per annum together with a profit participation calculated by reference to the profitability of LCM's direct investments. In all circumstances, the overall cost of the facility is capped at 13% per annum.
Omni Bridgeway has reported a loss for the half-year ended December 31, 2020 attributable primarily to i) a provision for impairment; ii) foreign exchange adjustments; iii) a material loss in the period; and iv) fewer completions in the first half, in part due to the impact of COVID-19 on the US court system.
The former owners of litigation insurance broker TheJudge Group have launched a new litigation finance fund with the Thomas Miller Group following the latter’s acquisition of the broker last year. The new fund – Erso Capital – will have access to more than $1bn of capital through its discretionary funds, single managed accounts and co-investment funds. The fund will be led by founders and former TheJudge owners Matthew Amey, James Blick and James Delaney.
A multi-million-Euro facility has been structured by panrise, in collaboration with law firm WILHELM Rechtsanwälte and UK-based funder Augusta Ventures, to fund litigation on behalf of German restaurants and hotels seeking payment under existing business interruption insurance policies for claims arising from the first COVID-19 lockdown in spring 2020.
Omni Bridgeway has made an investment in a proposed class action against certain underwriters at Lloyd's relating to insurance provided to Brookfield Multiplex Construction (NZ) Limited (in liquidation) ("BMX"). The claims relate to insurance provided by the underwriters to BMX and the New Zealand High Court judgment which the creditors obtained against BMX.

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