July 19, 2021

Global litigation funder Deminor has announced a partnership with TianTong Law Firm in Mainland China. The objective of the cooperation is for Deminor to provide funding for international arbitration cases and foreign cases involving Chinese corporations, including state-owned and private enterprises, banks, and investment funds, as well as Chinese individuals, subject to due diligence on the risk profile, strategy and suitability for funding of their cases.
International law firm Addleshaw Goddard is launching a new bespoke solution to litigation finance. It will provide specialist independent advice to corporates, third party funders and other law firms on single case and portfolio funding arrangements, whilst continuing to support companies in disputes where Addleshaw Goddard is acting with innovative finance arrangements to allow them to protect their interests and free their balance sheets.
Michael Cumming-Bruce has joined Bench Walk Advisors as a Vice President in the firm's London office. Michael was previously a senior associate at the litigation and arbitration boutique Cooke, Young & Keidan. Before CYK he was an associate at both a leading offshore and a Magic Circle firm.
UK-based AxiaFunder has provided an update on its performance, noting that since inception it has reviewed three hundred cases, funded twelve and reached a positive resolution on five. The average IRR on its resolved cases is 55%.
Gordon Stevenson and Iona McCall of AlixPartners share the results of an extensive survey of private practice litigators, leading in-house lawyers and barristers which indicate that, among other things, corporations are seemingly not willing to use litigation funding for their strongest cases, preferring instead to use their own balance sheets to fund these "dead certs."
The debate over disclosure of litigation funding in the US continues - a statement by Tim McCarthy of Verisk Analytics that "funding should be disclosed in the same way insurance details must be disclosed" has been met with stiff opposition from Andrew Lundberg of Burford Capital, who argues that litigation funding is “not relevant in the same way insurance coverage is required to be disclosed in litigation,” where parties are “effectively insured or indemnified against a bad outcome.”
Australian authorities have deemed more than 3,400 residential apartment buildings unsafe due to their construction with combustible cladding, and the task of attributing liability for the crisis is shaping up to be the biggest courtroom battle in the country this year. Omni Bridgeway is working with William Roberts Lawyers on two class actions and is also investigating possible class actions against other manufacturers of cladding products deemed to be combustible.

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