November 8, 2021

Pure Business Group, a Liverpool firm which handled civil legal claims, has collapsed into administration. Pure comprised two law firms, costs drafting and recovery, litigation funding provision and claims management operations. It also included a division offering claims handling services to the insurance industry as well as a sports management businesses. The insolvency is a drastic turn for the company, which just this past July announced that it had secured a new eight-figure funding line with Sandfield Capital intended to deliver dominant market-share.
London-listed mining group Panthera Resources PLC has acquired its Indian joint-venture partner, Metal Mining India Private Ltd (MMI). With the acquisition, the company has secured the rights of former MMI shareholders to make a potential claim under the Australia-India Bilateral Investment Treaty against the Republic of India over the grant of certain prospecting licenses. The company's legal adviser has said a potential claim under the treaty has legal merit, and discussions are under way with several potential litigation funders to support a claim.
Annie Pavia of Bloomberg Law shares the results of Bloomberg Law’s 2021 Litigation Finance Survey, revealing that the majority of litigation funders (56%) reported that their business increased even in the middle of the economic downturn last fall and a slightly larger percentage (59%) said they have more business now than they did before the downturn began.
Paul Brehony and Kate Gee of Signature Litigation LLP summarise recent auditor negligence claims in the UK and predict that audit reform and increasing regulatory scrutiny, coupled with the rise of group litigation in the UK and the increasing availability of litigation funding, will increase the likelihood of claims being brought in the civil courts against auditors and accounting firms.
LCM has announced the delivery of an award in favour of the funded party in an international arbitration, under the LCIA (London Court of International Arbitration) rules. The arbitration, seated in London and brought under the rules of the LCIA was for the determination of a construction dispute relating to a development in the Middle East. The investment forms part of LCM's Direct Investment Portfolio and was 100% funded from the company's balance sheet. The investment produced approximately £9.8 million in revenue and produced a 255% ROIC and a 195% IRR. The life of the investment was 26 months.

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