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Six Chinese banks weren't liable for a potential $150 million in sanctions for failing to freeze the assets of hundreds of Nike counterfeiters, the 2nd U.S. Circuit Court of Appeals ruled last week. Next Investments LLC, a Houston-based unit of litigation finance firm Tenor Capital Management LP, bought the rights to the $1.8 billion default award from Nike but failed to seek enforcement of the freeze against the banks for nearly six years before asking the court to hold them in contempt, U.S. Circuit Judge Michael Park wrote for a unanimous three-judge panel.
Keller Lenkner, the US law firm founded by partner Ashley Keller, managing partner Travis Lenkner and Keller’s business partner Adam Gerchen after they sold their litigation finance fund, Gerchen Keller Capital, to Burford Capital in a $160 million deal, is expanding rapidly. It is opening an office in Washington D.C., its third city since launching in Chicago in 2018. The firm has planted its flag in mass arbitrations, using it as a strategy against companies like Amazon and Intuit which have required customers to arbitrate claims rather than file class actions.
London's Court of Appeal made a U-turn last week by agreeing to reopen a $7 billion lawsuit against Anglo-Australian mining giant BHP, reviving a case over a dam rupture behind Brazil's worst environmental disaster. PGMBM, who is bringing the claim with the backing of third party funding on behalf of 200,000 claimants, revived the case in April by applying for an oral Court of Appeal hearing - reserved only for exceptional cases - and arguing that the appeal judge had not properly grappled with arguments about why the case should proceed.
Law professors Anthony Sebok of the Benjamin N. Cardozo School of Law and Maya Steinitz of the Iowa College of Law both agree that it’s too early to tell whether the new disclosure requirements in New Jersey will lead to changes in litigation tactics in cases with outside funding, though Maya emphasises that the disclosure rules are very significant, as can be inferred from the passions of parties on both sides.
London's Court of Appeal will hear a request to revive a £5 billion lawsuit against Anglo-Australian mining group BHP over a 2015 dam failure in Brazil. Judge Nicholas Underhill has agreed to an oral hearing that could help to overturn a previous Court of Appeal decision which denied a 200,000-strong Brazilian claimant group permission to appeal against a judgment to strike out the landmark case. PGMBM is representing the Brazilian claimants.

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