Litigation Finance Insider

Litigation Finance Insider

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Gary Barnett reflects on his first year at ILFA

Gary Barnett reflects on his first year as Executive Director and General Counsel of the International Legal Finance Association (ILFA), and shares what his priorities are for the organization in the next year.

€190 million arbitration award for Harbour-backed case

Rockhopper Exploration, a UK-based international oil and gas exploration and production company with key assets in the North Falkland Basin, has announced a successful arbitration award in its case against the Republic of Italy, with compensation set at EUR 190million plus interest. Harbour Litigation Funding provided financing for the case.

Offshore company backs collective claim against crypto exchanges

Softwhale Holdings Limited is backing a new collective claim against cryptocurrency exchanges Binance, Kraken, Bittylicious and ShapeShift on behalf of UK consumers who held the cryptocurrency Bitcoin Satoshi Vision (BSV) on 11 April 2019. The defendant exchanges took action to delist BSV from their platforms in or around April 2019, which is alleged to be conduct constituting an anti-competitive practice in violation of competition law.

Woodsford announces new hires in the US, UK

Woodsford has announced a major expansion of its global team. In the US, Ryan Schultz joins as Vice President, Business Development. He joins from the Intellectual Property & Technology Group at Robins Kaplan LLP, a preeminent trial law firm in the US, where he was a Partner. Ryan will be looking to build on and grow Woodsford’s intellectual property partnerships. He will be based in Minneapolis. In the UK, four new hires have joined the London-based underwriting and finance teams.

Omni Bridgeway hires in Canada

Laura Scheim has joined Omni Bridgeway in Montreal as an associate investment manager and legal counsel. Laura was previously in the litigation group of Osler, Hoskin & Harcourt LLP and brings expertise in commercial and tax litigation. She also clerked at the Supreme Court of Canada and the Quebec Court of Appeal. 

SPS Capital acquired by Vinci Partners

SPS Capital, a prominent Brazilian special situations fund with R$2.0 billion (USD $380 million) in assets under management, has been acquired by Vinci Partners, another leading alternative investment platform in Brazil. SPS Capital, together with PGMBM, is funding the high-profile claim against mining giant BHP in relation to the Fundão dam collapse.

LitFin backs construction cartel claims in Austria

LitFin is funding the pursuit of claims against Austrian construction companies STRABAG AG and the PORR Group for their alleged participation in a 'construction cartel.' Austrian commercial law firm Brand Rechtsanwälte GmbH will be responsible for examining and enforcing the claims for damages. It is expected that a first instance claim will take between 1-3 years to receive a decision from a court. 

Apple, Google hit with collective claims in Portugal

Eskariam, a Spanish legal services company specialising in collective claims, is financing the early stage costs of collective competition claims against Apple and Google that have been filed with the Portuguese Competition Court. The claims aim to recover compensation of up to €198 million. Portuguese firms J+Legal and Cardigos are leading the claims, with support from Hausfeld and Eskariam.

Therium adds four investment managers

Therium Capital Management has added four investment managers to its transatlantic investment team, Chris Wilkins and Charlie Temperley in London and Corey Banks and Joshua Card in New York.

PGMBM launches guitar price fixing claim

PGMBM has launched an opt-out group claim in the UK against famed guitar maker Fender for alleged price fixing. From 2013 to 2018, Fender required its guitars to be sold at or above a minimum price and was fined £4.5 million by the Competition and Markets Authority for breaching UK and European competition law.  PGMBM will be entering into a a funding agreement to cover the costs of the proceedings, and the proposed class representative also plans to acquire after-the-event (ATE) insurance to cover any of Fender’s costs in the event that this claim is unsuccessful.

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