Harbour Litigation Funding

All articles about Harbour Litigation Funding.

£72 million seized from a Swiss bank account and a portfolio of luxury London properties can be sold off in the pursuit of £300 million stolen by the former head of an international paper company, the UK High Court has ruled. The Kazakstan-based KK Group has spent years chasing its former chief executive, Maksat Arip, after he was found to have siphoned off huge sums of money with the help of chief financial officer Shynar Dikhanbayeva. “This is a momentous milestone in successfully enforcing a very valuable judgment”, said Mark King, Senior Director of Litigation Funding at Harbour, the funder bankrolling the enforcement efforts.
Michael Cross of the Law Gazette reports that nearly one third of partners at firms with 50 or more lawyers are examining a stock exchange float within the next 18 months, according to research published last week. The poll, commissioned by Harbour Litigation Funding, found that 31% are 'actively considering an initial public offering' while 44% said an IPO was 'under consideration'.
As capital floods into litigation funding, the sector has entered a new phase. Rather than sitting back and waiting for cases, funders often now play an integral role in the instigation of litigation – particularly collective actions. A push towards freely available, standardised documents will help hedge funds and other players enter the field, while a secondary market for funding investments is finding its feet.
Harbour Litigation Funding has launched a new £150 million funding venture with Mishcon de Reya called MDR Solutions I. It will be used to fund litigation and arbitration cases for Mishcon de Reya’s clients. Operationally separate to the law firm, the new venture will be responsible for assessing and investing in prospective cases originated by Mishcon de Reya. MDR Solutions I will benefit from sophisticated data science capability and expertise which has been built by Mishcon de Reya over a number of years. Harbour will be co-investing alongside the firm. Speaking on behalf of Harbour, CIO Ellora MacPherson stated that “this is fantastic news and the next step in the development of our relationship. We have nine active cases which Mishcon de Reya are advising on and close relationships between the teams at every level of the organisation. We look forward to working even closer together.”
A UK court has ruled against Harbour Litigation in its dispute with Kazakhstan Kagazy, one of Central Asia’s largest paper and packaging manufacturers. The dispute revolved around Harbour's rights to the approximately USD $300 million judgment obtained in a Harbour-backed fraud claim the company brought against its former management and shareholders.
Harbour is funding a consumer group action claim being brought by class-action law firm Hagens Berman against Mercedes on behalf of UK Mercedes drivers affected by emissions-cheating. Hagens Berman has already obtained a US $700 million settlement from Mercedes in the US and has stated that the UK claim could be worth more than £1 billion.

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