Unnamed funder backs claim against Morocco

An unnamed funder — “one of the world's largest and most successful litigation finance companies and a significant institution within the legal financing industry” — has agreed to provide US$11 million in both litigation finance capital and working capital to Emmerson Plc, a Moroccan focused potash development company. The funding will primarily be used to progress the company’s dispute with Government of the Kingdom of Morocco under a bilateral investment treaty with the Government of the United Kingdom of Great Britain and Northern Ireland (the "BIT"). The dispute alleges various breaches by the Government of Morocco and its agents of the BIT. In the case of a successful settlement or award, the return to the funder will be based upon the greater of a multiple of the final drawn-down amount or a percentage of the final award. Boies Schiller Flexner has been retained as litigation counsel.

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