Omni Bridgeway's Secondary Market Transaction; UK Gov't Ruling offers Partial PACCAR Solution; and the Funder's Perspective on Case Selection
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Deals: Omni Bridgeway Announces: Secondary market transaction completed in relation to Fund 4’s IP portfolio
Omni Bridgeway Limited?(Omni Bridgeway, OBL, Group) (ASX: OBL) announces that it has completed the sale of a 25% interest in a portfolio of 15 intellectual property (IP) investments (Investments) in Fund 4 (Fund) to an affiliate of GLS Capital Partners Fund II, LP (GLS) for an initial amount of US$21.5 million, representing a multiple on invested capital (MOIC) of 2.0x of the apportioned aggregated deployments to date.
GLS will receive a preferred return on its deployments alongside OBL, beyond which OBL retains further profit rights on the 25% interest. The cash consideration is anticipated to be received within five business days.
The total committed capital of the Investments is US$104.4 million with total deployed capital of US$42.9 million. The future budgeted costs (committed but undeployed capital) of US$61.5 million will be split proportionately between the Fund and GLS. Read the full article>>
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Regulatory Issues: UK Government’s Amendment to DMCC Bill Offers a Partial Solution to PACCAR Ruling
The UK litigation finance industry has been closely watching the government’s response to the Supreme Court’s?PACCAR?decision, with many hoping that there will be a quick legislative fix regarding the enforceability of litigation funding agreements (LFAs). According to one industry expert, a parliamentary debate held earlier this week has offered an indication of what shape a legislative solution may take.
A post from Clyde & Co’s?director of policy and government affairs, Alistair Kinley, provides insights into the recent debate on the House of Lords over the Digital Markets, Competition and Consumers Bill (DMCC), and its potential consequences for the government’s plans to provide a legislative solution to the?PACCAR?decision. Read the full article >>
Deals: The Funders’ Perspective on Criteria for Case Selection
An article in Concurrences by Thierry de Bovis, director at Equity & Claims Lux, provides an overview of the latest developments in litigation funding and offers useful insights into the factors which funders consider when selecting the most attractive cases for investment. de Bovis begins by exploring the ‘rather undefined concept’ of the term ‘litigation funder’, before examining the different types of litigation finance, from single case funding and the monetization of claims, to law firm funding and special court funding. Read the full article >>
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