Burford Capital

All articles about Burford Capital.

Andrew Cohen of Burford Capital reviews the first decision from the New York Appellate Division that directly addresses the discoverability of legal finance materials, noting that the ruling in Worldview Entertainment Holdings Inc. v. Woodrow affirms the denial of a motion to compel production of, inter alia, litigation funding documents, as the defendant failed to explain "how discovery about litigation financing and witness payments would support or undermine any particular claim or defense."
Quentin Pak of Burford Capital reports that the Singapore High Court has recently allowed the liquidator of insolvent Castlewood Group to enter into a litigation funding arrangement, with the court’s brief remarks on the decision providing another indication that the use of legal finance in insolvency is becoming more established in Singapore in Singapore reaffirms the applicability of legal finance in corporate insolvencies.
Burford Capital is backing a claim seeking compensation for millions of electricity customers in Great Britain. Scott+Scott UK LLP is applying to the UK Competition Appeal Tribunal for approval to bring a collective action against various European power cable companies who allegedly overcharged electricity network operators for power cables, resulting in higher consumer electricity bills. Daniel Jowell QC of Brick Court Chambers has been appointed as counsel. Richard Druce of NERA Economic Consulting and industry expert Peter Bennell of Sohn Associates have been engaged to provide expert reports. Case Pilots has been appointed as claims administrator.
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.
Burford Capital’s $72 million annual loss—the first in its history—shows the risk litigation funders face in growing their caseloads while the Covid-19 pandemic slowed court dockets, delaying payoffs for investors. Burford last year invested $447 million in cases, about twice the $225 million it deployed in 2020, the company said in its annual report. But with fewer cases being decided through trials and settlements, payoffs from those investments—and others made in prior years—weren’t realised. “Burford turned in an excellent 2021,” the company’s chairman, Hugh Steven Wilson, said in a March 29 statement disclosing results. “This may seem odd to say as we report the first loss in our history, but that is a matter of timing.”
Burford Capital Limited has raised a new US $360 million private investment fund, the Burford Advantage Master Fund LP (“Advantage Fund”). The Advantage Fund focuses on lower risk, lower return pre-settlement litigation investments than Burford includes in its core legal finance portfolio, targeting matters expected to produce returns in the 12-20% IRR range.
Patrick Dempsey has joined Burford Capital as a Director, where he will focus on originating new business with US law firms and companies. Prior to joining Burford, Mr. Dempsey was the US Chief Investment Officer and a Board Member at Therium Capital Management. He also worked as a litigator at Hogan Lovells and Proskauer.  
With more than half of phase two funds committed, Burford Capital announced it has crossed a significant milestone in its initiative designed to increase diversity in the business of law, with more than $100 million in cumulative Equity Project commitments made to back commercial litigation and arbitration led by female and racially diverse lawyers.
Burford Capital summarises its findings from interviewing 52 general counsel, heads of litigation and other senior legal leaders at major corporations around the world about their use of affirmative recovery programs (formal efforts by a legal department to reduce costs and enhance liquidity for a business through meritorious plaintiff-side litigation).

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