Bench Walk Advisors

All articles about Bench Walk Advisors.

Counsel for the official committee of unsecured creditors of Sears Holdings is seeking court approval of a US $35 litigation funding facility with Bench Walk Advisors. Sears Holdings, the parent company of the iconic Sears retail brand, filed for Chapter 11 bankruptcy protection in October 2018. While under creditor protection, litigation was commenced by a restructuring subcommittee seeking over $2 billion in damages arising from certain pre-filing related party transactions. $25 million was set aside to cover the initial costs of the litigation, but these funds are now near exhaustion. In order to continue in the pursuit of the claims, a competitive process was initiated to secure additional funding. After several rounds of hard-fought and arm’s-length negotiations with Bench Walk and another funder, Bench Walk emerged as the winner.
Brown Rudnick has released the agenda for its first annual European Litigation Funding Conference taking place on 17 May 2022 in London. The one-day conference has drawn big names from the international litigation funding market who will discuss topics such as opportunities and innovation in deal structuring, the rise of class actions and opportunities in Europe.
The UK's Competition Appeal Tribunal (CAT) ruled last week that the collective action, FX Claim UK, brought by Phillip Evans, can be certified. However, it said this should be done on an opt-in basis only, rather than the opt-out basis on which the action had been filed – a ruling which Evans and his legal advisers Hausfeld intend to appeal. The claim is on behalf of investors damaged by the unlawful rigging of foreign exchange markets between 2007 and 2013. Bench Walk Advisors is backing the claim. 
Bench Walk Advisors is backing a claim against Dutch energy supplier Vattenfall (formerly Nuon). The claim alleges that the energy supplier systemically charged SMEs and non-profit organisations an unjustified surcharge on its energy bills. The claim seeks a refund of the overcharged costs for approximately 5,000 duped customers, which it estimates to be over €400 million plus interest. The claim is being organised by ClaimShare, an Amsterdam-based professional platform for collective legal advocacy. Dutch law firms Birkway and De Haan Advocaten & Notarissen are leading the case.
London-based Bench Walk Advisors is backing a class action lawsuit to be launched imminently against Visa and Mastercard for allegedly unlawfully overcharging businesses for accepting credit and debit card payments on corporate cards and on consumer cards used by overseas visitors. Harcus Parker, a UK commercial litigation law firm, will bring the claim at the Competition Appeal Tribunal (CAT), the UK’s specialist judicial body for hearing competition cases. The CAT is expected to hear the first round of the case in 2022, when it will decide whether the case can be certified to go forward to trial.
Bench Walk Advisors is backing a new collective claim in Italy that is based on a 2019 Italian Competition Authority (AGCM) decision. On 17 July 2019, the Italian Competition Authority (AGCM – Autorità Garante della Concorrenza e del Mercato) concluded a complex investigation, resulting in the ascertainment of two cartel agreements, set up to distort normal competition in the markets for corrugated cardboard and corrugated cardboard packaging. The cartels involve the most important manufacturers of corrugated cardboard sheets and packaging, as well as the Italian group of corrugated cardboard manufacturers (GIFCO). In consideration of the seriousness and duration of the conduct, the Authority imposed fines of over € 287 million, paving the way for actions claiming compensation for damage suffered by direct and indirect purchasers of the cartelists.
Billionaire Barry Diller took the stand last week to defend his media empire from a lawsuit claiming that it cheated the founders of Tinder out of $2 billion. His attorneys have used millions of dollars in litigation funding payments to key witnesses to cast doubt on former CEO Sean Rad's case. Rad’s camp has argued that the payments are irrelevant to the suit, and the judge presiding over the trial found that the payments were not illegal, saying that it ”approaches the line between legitimate litigation funding and illegitimate payment of witnesses, [but] it does not cross it.” Bench Walk Advisors is the funder backing Rad in the Tinder case.
Nick Sage has joined Bench Walk Advisors as Vice President in the funder's New York office. Nick previously served as a senior litigation associate with Davis Polk & Wardwell LLP, where he gained significant experience across a wide range of litigations and arbitrations and represented a variety of financial institutions, media companies, technology companies, utility companies, and law firms in high-stakes disputes.
Almost 370 businesses have joined a group action suing Clydesdale Bank and its former owner National Australia Bank in a dispute over small business loans that is set for its first day in London’s High Court in December. The group, which alleges businesses were deceived between 2001 and 2012 when buying fixed rate Tailored Business Loans, has snowballed since last year’s launch and now represents 509 smaller businesses and 867 individual loans, according to claims management company RGL Management. Bench Walk Advisors is backing the claim.
Ayse Lowe has been promoted to Global Head of Origination at Bench Walk Advisors. Ayse joined Bench Walk Advisors in 2018 and has an outstanding reputation in the litigation funding industry, where she originates, underwrites, and monitors funding in various litigation sectors including international and commercial arbitration, insolvency, class actions and global litigation matters as well as law firm and corporate portfolio arrangements and defense funding.
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.

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