Bankruptcy Update November 2022: Mass Tort Bankruptcies

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New Fundings

Woodsford backs Toyota diesel defeat device class action

Woodsford, together with Maddens Lawyers, is backing a class action filed in the Supreme Court of Victoria against Toyota on behalf of up to half a million owners of diesel-powered Toyota vehicles alleged to contain defeat devices, which tamper with the vehicle’s emissions control system in order to enhance the car’s performance. 

In the News

Sony lawsuit claimant’s reddit Ask Me Anything backfired

An “Ask Me Anything Q&A” on reddit hosted by the lead claimant of the recently filed anti-competition lawsuit against Sony backfired when the claimant evaded questions about how much she and Woodsford, who is backing the claim, stand to gain if they win the case.

Insights

Avoiding Fee Fatigue and “Accidental Contingencies” with Late-Stage Litigation Finance

Brendan Dyer of Woodsford explains why partnering with a funder at a late stage of litigation is often a great solution in situations of fee fatigue, where a client has been involved in protracted litigation and is evaluating whether the potential recovery justifies the additional time and money required to prevail, as well as for “accidental contingency situations”, where the scope of the matter has crept beyond the expectations of the funder and the client, and the funder faces the specter of significant financial risk once the budget runs out.

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