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A listing of all articles published on Litigation Finance Insider

Liti Capital, the Switzerland-based litigation funder that raised capital by issuing investors blockchain-based tokens, has announced that it is launching ScamBusters, a new tool that allows its investors to vote for which crypto-focused cases the company should pursue next. The company is committing between 5% and 10% of its yearly investment budget for this initiative. The first twelve cases up for voting include a fake automated trading scam in which over 5,000 victims lost over $10 million and a bitcoin sports betting scam in which victims invested in a BTC sports trading company that combined crypto currency with sports betting, which turned out to be a Ponzi scheme promising between a 15% to 20% return per month.
Bench Walk Advisors has been revealed as the firm providing UK legal and professional services group, Gateley with a £50 million funding facility. The agreement will see Gateley become one of only two listed law firms with access to a funding facility. Richard Healey, partner and head of Gateley’s dispute resolution group, noted that Bench Walk was chosen after a careful exercise in which a number of funders were assessed based on set criteria.
Chicago-based Longford Capital Management has raised $682 million for its third investment fund and has already committed $270 million to new investments in the fund. Fund III is the third private investment fund Longford has closed since the firm began operating in 2013, and its assets under management now exceed $1.2 billion. Fund III includes repeat investors from Funds I and II, as well as many new investors, attracting capital from state and municipal pension funds, university endowments, foundations, single and multi-family offices, and high-net-worth individuals.
Pretium, a New York-based specialized investment management firm with more than $26 billion in assets, has established a legal opportunities investment team. The strategy will be led by Matthew Cantor, a Senior Managing Director who joined Pretium in May 2020 and has more than two decades of experience of creating value for investors in complex legal situations. This experience includes his tenure leading the highly successful resolution of the Lehman Brothers estate and time spent as both an investor and as a practicing attorney at leading global law firms. Also joining Pretium as a Senior Managing Director is Charles (Chad) Schmerler, who will serve as the head of Litigation Finance. Prior to joining Pretium, he was the CEO of Yorkside Capital, a litigation finance firm he founded following his tenure as a litigation partner at Norton Rose Fulbright. 
The Supreme Court of Victoria last week refused to allow class action contingency fees in the first decision under the new regime. Victoria is the only Australian jurisdiction so far to allow court approved contingency fees in class actions and allows plaintiff law firms to compete directly with third party funders. In refusing the group cost order, the court noted that the 25% contingency fee was not more favourable than the arrangement the plaintiffs already had in place.
More than 1,000 Halifax investors may recover tens of millions of dollars more of their funds caught up in the collapse of the stock-broking platform thanks to Omni Bridgeway, who has agreed to fund appeals over recent Australian and NZ court judgments regarding Halifax Investment Services Pty Ltd and Halifax New Zealand Limited, both of which are in liquidation.
Lawyers chasing personal injury firms over the deductions from former clients’ damages have been handed a huge boost after a UK costs judge rejected an application by the law firm Slater & Gordon to have claims from its former clients stayed. The cases centre around the so-called 'secret' profits received by the firm as commissions from ATE insurance premiums. There are likely to be hundreds of other similar cases pending this decision against other PI firms.
The temperature of the debate around class actions and litigation funding is heating up in New Zealand. The country’s biggest litigation funder LPF has sent a letter to the Law Commission in which it voiced its dismay over the "volume and shrillness in much of the recent negative commentary." LPF also provided the Commission with statistics showing that of the 29 funded cases that have been settled in the last ten years, litigation funders' profit has amounted to only 6% of the amount awarded or paid in settlement.
Lake Whillans and Above The Law have released the results of their fifth annual litigation finance survey which shows that, among other things, firms with 500+ attorneys have the smallest proportion of firsthand experience with litigation finance, and across the board respondents practicing in the telecommunications and technology industries reported the most firsthand experience.
Emilie Jones and Johanna Weißbach of Pinsent Masons summarize the draft report that the European Parliament is currently considering as it grapples with the question of whether to regulate third party litigation funding, noting that the objectives of the report in many respects reflect principles by which major litigation funders in the UK already operate.
RBG Holdings plc (AIM: RBGP), the UK-based professional services group, has released its unaudited results for the six months ended 30 June 2021. It reports that its litigation finance subsidiary LionFish has received 393 enquiries since launch with 10 cases approved, 54 under consideration and 329 rejected. The 10 approved cases will bring a funding commitment of £8.0 million over the next three years, of which £3.2 million has already been drawn down.
Maya Steinitz has been named to an endowed position at the University of Iowa College of Law. Maya's research focuses on a wide range of topics including the intersection of civil litigation and corporate law, public and business international law, transnational dispute resolution, and the global legal profession. She is one of the US's leading experts on litigation finance.

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