Fifth circuit rejects a challenge to litigation funding agreement for lack of standing

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. Read more.

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CAC Specialty strengthens Contingent Risk Solutions Team with Megan Easley joining as Vice President

CAC Specialty is excited to welcome Megan Easley to its Contingent Risk Solutions Team as a Vice President. Megan joins CAC Specialty from Omni Bridgeway, one of the largest litigation funding groups in the world. CAC Specialty is a leading broker for litigation risk insurance policies in the United States, with $2 billion in insurance limits placed last year. Megan earned her Bachelor of Arts Degree in English from Georgetown University and her J.D. from Cornell Law School and clerked on the U.S. Court of Appeals for the Second Circuit.

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Northleaf leads A$250 million senior secured credit facility for Omni Bridgeway

Northleaf Capital Partners (Northleaf) has announced that it acted as the lead arranger of a A$250 million senior secured credit facility for Omni Bridgeway (ASX: OBL), a global leader in financing and managing legal risks. “We are delighted to partner with Omni Bridgeway, leveraging our specialty finance expertise to support the firm’s continued global growth,” said CJ Wei, Vice President at Northleaf. Northleaf’s private credit program seeks to provide investors with diversified exposure to private credit investments globally, with a focus on floating rate loans to middle market companies and specialty finance platforms in North America, Europe and Australia.

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ILFA Names New Chairman, Board of Directors, and Executive Committee

The International Legal Finance Association (ILFA) has announced its new board of directors, its chairman, and the executive committee. Gary Barnett, Executive Director of ILFA, welcomed Neil Purslow, who co-founded Therium, as the new Chairman. The Executive Committee Officers include: Christopher DeLise of Delta Capital, Susan Dunn of Harbour Litigation Funding, Jack Neumark of Fortress Investment Group LLC, Andrew Saker of Omni Bridgeway and Marcel Wegmüller of Nivalion.

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