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Liti Capital, the Switzerland-based litigation funder that raised capital by issuing investors blockchain-based tokens, has announced that it is launching ScamBusters, a new tool that allows its investors to vote for which crypto-focused cases the company should pursue next. The company is committing between 5% and 10% of its yearly investment budget for this initiative. The first twelve cases up for voting include a fake automated trading scam in which over 5,000 victims lost over $10 million and a bitcoin sports betting scam in which victims invested in a BTC sports trading company that combined crypto currency with sports betting, which turned out to be a Ponzi scheme promising between a 15% to 20% return per month.
Bench Walk Advisors has been revealed as the firm providing UK legal and professional services group, Gateley with a £50 million funding facility. The agreement will see Gateley become one of only two listed law firms with access to a funding facility. Richard Healey, partner and head of Gateley’s dispute resolution group, noted that Bench Walk was chosen after a careful exercise in which a number of funders were assessed based on set criteria.
Chicago-based Longford Capital Management has raised $682 million for its third investment fund and has already committed $270 million to new investments in the fund. Fund III is the third private investment fund Longford has closed since the firm began operating in 2013, and its assets under management now exceed $1.2 billion. Fund III includes repeat investors from Funds I and II, as well as many new investors, attracting capital from state and municipal pension funds, university endowments, foundations, single and multi-family offices, and high-net-worth individuals.
Pretium, a New York-based specialized investment management firm with more than $26 billion in assets, has established a legal opportunities investment team. The strategy will be led by Matthew Cantor, a Senior Managing Director who joined Pretium in May 2020 and has more than two decades of experience of creating value for investors in complex legal situations. This experience includes his tenure leading the highly successful resolution of the Lehman Brothers estate and time spent as both an investor and as a practicing attorney at leading global law firms. Also joining Pretium as a Senior Managing Director is Charles (Chad) Schmerler, who will serve as the head of Litigation Finance. Prior to joining Pretium, he was the CEO of Yorkside Capital, a litigation finance firm he founded following his tenure as a litigation partner at Norton Rose Fulbright. 
The Supreme Court of Victoria last week refused to allow class action contingency fees in the first decision under the new regime. Victoria is the only Australian jurisdiction so far to allow court approved contingency fees in class actions and allows plaintiff law firms to compete directly with third party funders. In refusing the group cost order, the court noted that the 25% contingency fee was not more favourable than the arrangement the plaintiffs already had in place.

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