Max Odenthal of Gordian Special Assets notes that while activist short sellers play a critical market function by exposing bad actors and discouraging fraudulent practices, their business model does not include cleaning up the mess after their campaigns lead to the collapse of public companies, and this gap is starting to be filled by new players in the litigation finance market and flexible law firms willing to pursue individual fraudsters on behalf of investors.

Max Odenthal of Gordian Special Assets explores the overlooked economic opportunity in funding non-governmental asset recovery efforts in emerging countries, noting that a mismatch in sophistication and financing between emerging market banks and delinquent debtors is often the biggest reason the banks do not pursue these debtors internationally.