January 31, 2022

Elevate has become the first non-lawyer-owned law company in the United States. For decades, ethics rules of the various US states prohibited ownership of law firms by non-lawyers, (except in Washington DC, in certain circumstances). In 2020, Arizona became the first state to eliminate this prohibition. Elevate’s application was approved unanimously by the Arizona Supreme Court in late 2021.
Former US state Chief Disciplinary Counsel Mark Dubois test drives Ryval, a new technology platform that plans to sell digital shares in lawsuits, and shares his prediction that "ethical investing in litigation" is the next logical step in the industry's evolution.
Amy Geise and Ken Epstein of Omni Bridgeway review a recent US Fifth Circuit decision that sends a clear message to those seeking to challenge a trustee’s litigation funding agreement: you’d better be on solid ground when it comes to “standing.” In the five-page opinion authored by Judge Jacques L. Weiner, Jr., the court found that the appellant-debtor in the case lacked standing to challenge a funding agreement approved by a Texas Bankruptcy Court. The Fifth Circuit found that the debtor was not “directly, adversely, and financially impacted” by the funding agreement or the bankruptcy court’s order. 
Jan Spittka of Clyde & Co predicts that General Data Protection Regulation (‘GDPR‘) could lead to a potential for mass litigation in Germany. GDPR, which provides for material and non-material damage claims in case of an infringement of said Regulation, has seen these damage claims to be quite dormant for a while. When affected individuals go to court it is mainly to enforce data subject rights such as access to or erasure of personal data. Jan writes that in Germany it seems that this is about to change, with courts becoming more and more generous when awarding damages. This has triggered the interest of a ‘claimant industry’ consisting of specialised claimant-side law firms, litigation funders and legal tech companies.
Omni Bridgeway has announced a number of promotions in its US group. Jim Batson and Matt Harrison have been named Managing Directors and co-Chief Investment Officer(s) - US. Marketing veteran Lindsay Hamilton has been named Global Chief Marketing Officer and Tina Young has been promoted to Chief Administrative Officer.

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