European Class Actions: The Funder’s Dilemma

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Insights

Global Class Actions Symposium: A market on the rise

Andrew Mizner of ICLG shares highlights from the 2021 edition of the Global Class Actions Symposium. Third-party funding is “changing the market significantly”, opening a wider range of cases, explained Chris Warren-Smith, a London partner with Morgan Lewis & Bockius, in particular for securities and tax claims. We are starting to see a lot more types of actions funded,” he continued, describing funders as sophisticated operators, making “a very intelligent deployment of capital”.

In the News

Court rejects another Canadian litigation funding agreement

The Superior Court of Quebec has released a decision rejecting a litigation funding agreement in the insolvency proceedings of Fortress Global Enterprises (TSX:FGE). The Court refused to approve the litigation funding agreement because it placed limits on Omni Bridgeway’s obligation to fund an eventual adverse costs award. Specifically, under the agreement, Omni had no obligation to pay adverse costs awards relating to costs incurred prior to the approval of the agreement or after its termination.

New Fundings

Omni Bridgeway backs new Australian class action

Omni Bridgeway has agreed to fund a class action against Mesoblast Limited (ASX:MSB) on behalf of shareholders for losses arising out of Mesoblast’s alleged breaches of its continuous disclosure obligations and/or by Mesoblast engaging in misleading and deceptive conduct. The class action will be run by law firm Phi Finney McDonald.

Before You Go

Never miss a thing in the litigation finance market.