New Fundings

New cases being backed by litigation funders.

Canterbury Litigation Funding is backing a class action against The Earthquake Commission (EQC) on behalf of tens of thousands of homeowners who bought earthquake damaged homes they believed were properly repaired by EQC, but subsequently discovered their homes still had issues. The class action argues that affected homeowners should be able to receive a cash payment for the cost of the remedial work, rather than being required to undertake their own repairs and apply to be reimbursed under the prescriptive criteria of the $300m On-Sold Policy administered by the EQC. Canterbury is entitled to a fee of up to 15% (including GST) from any amount due claimants from EQC.
Harbour is backing UK and Dutch claims of up to 25 billion euros against Alphabet Inc unit Google on behalf of publishers over Google's digital advertising practices. The suits allege that Google deprived publishers of billions of revenues through anti-competitive conduct, namely that it used its publisher ad servers by favouring its own ad exchange and used its ad exchange to favour its publisher ad server, and will seek to recover compensation for all owners of websites carrying banner advertising.
Softwhale Holdings Limited is backing a new collective claim against cryptocurrency exchanges Binance, Kraken, Bittylicious and ShapeShift on behalf of UK consumers who held the cryptocurrency Bitcoin Satoshi Vision (BSV) on 11 April 2019. The defendant exchanges took action to delist BSV from their platforms in or around April 2019, which is alleged to be conduct constituting an anti-competitive practice in violation of competition law.
LitFin is funding the pursuit of claims against Austrian construction companies STRABAG AG and the PORR Group for their alleged participation in a 'construction cartel.' Austrian commercial law firm Brand Rechtsanwälte GmbH will be responsible for examining and enforcing the claims for damages. It is expected that a first instance claim will take between 1-3 years to receive a decision from a court. 
Eskariam, a Spanish legal services company specialising in collective claims, is financing the early stage costs of collective competition claims against Apple and Google that have been filed with the Portuguese Competition Court. The claims aim to recover compensation of up to €198 million. Portuguese firms J+Legal and Cardigos are leading the claims, with support from Hausfeld and Eskariam.
PGMBM has launched an opt-out group claim in the UK against famed guitar maker Fender for alleged price fixing. From 2013 to 2018, Fender required its guitars to be sold at or above a minimum price and was fined £4.5 million by the Competition and Markets Authority for breaching UK and European competition law.  PGMBM will be entering into a a funding agreement to cover the costs of the proceedings, and the proposed class representative also plans to acquire after-the-event (ATE) insurance to cover any of Fender’s costs in the event that this claim is unsuccessful.
Burford Capital, through its wholly owned subsidiary Woolridge Investments LLC, is funding the budgeted cost of arbitration for ASX-listed Greenland Minerals in its dispute with the Government of Greenland and the Government of the Kingdom of Denmark. After more spending more than ten years and investing over $130 million into its Kvanefjeld rare earths project in southern Greenland, development of the company's project came to a halt in December 2021 due to a new law banning uranium mining.
Deminor is backing a new group action claim in Italy filed against the "Corrugated Cardboard Cartel." The civil action follows the Italian Competition Authority’s decision – also confirmed by the Lazio Regional Administrative Court – which ascertained the existence of two collusive agreements between the main operators in the sector aimed at inflating sales prices for corrugated cardboard sheets and packaging for a period of more than 10 years. Italian law firm BonelliErede will be leading the multidisciplinary legal team, which will include professionals from the firm’s Competition Litigation Task Force with extensive experience in antitrust damages actions. This is the second Italian collective claim launched against the Corrugated Cardboard Cartel — Bench Walk Advisors is also backing a claim initiated in late 2021, with bookbuilding and damage assessments for that case being delivered by Libra and legal and litigation services being delivered by Delex.
Vannin Capital is backing two new class actions commenced in the Federal Court of Australia against Apple and Google. The claims, filed by Phi Finney McDonald on behalf of the lead applicants, allege that the tech giants engaged in anti-competitive conduct in relation to the operation of their app stores. By routinely charging a 30% commission to app developers and limiting their ability to distribute apps outside of the app stores, it is alleged that Apple and Google limited competition in the market which resulted in higher prices for consumers.

Before You Go

Never miss a thing in the litigation finance market.