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Plans by Australia’s recently elected Labor government to reinstate a financial services licensing exemption for litigation funders could lead to an upswing in class action funding. Andrew Saker, chief executive of litigation funder Omni Bridgeway, one of the few funders to have an Australian Financial Services Licence, said the government’s proposed changes will create a more conducive environment for litigation funders to work in the class action environment.
A £193M settlement has been reached between Volkswagen and around 91,000 claimants in a U.K. group action over the carmaker’s emissions scandal. The claim, which should now result in each car owner receiving around £2,100, was backed by litigation funders Therium and North Wall Capital. Therium, the largest backers, funded claimants represented by Slater & Gordon, whilst North Wall financed PGMBM claimants. Leigh Day did not have any litigation funding, instead working on a conditional fee agreement.
Former US state Chief Disciplinary Counsel Mark Dubois test drives Ryval, a new technology platform that plans to sell digital shares in lawsuits, and shares his prediction that "ethical investing in litigation" is the next logical step in the industry's evolution.
Spencer Fane has hired two Porter Hedges intellectual property lawyers in Austin and Houston, led by partner Erick Robinson, who said the Am Law 200 firm is a good fit for his plaintiff’s patent practice, which often uses litigation funders. Describing himself as a “square peg in a round hole” at Porter Hedges, Robinson said his trial practice is “sort of a niche within a niche within a niche” due to the litigation funding and the related need to thoroughly conduct due diligence before taking on a patent client.

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