PACCAR Revisited; LexShares Cancels Funding Plan; UK Delays Funding Bill Until Summer 2015; Darrow Launches Mass Arbitration Platform; People Moves
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Special Features: Key Takeaways from LFJ’s?Virtual Town Hall: PACCAR Revisited
On Thursday August 15th, LFJ hosted a Virtual Town Hall titled ‘PACCAR Revisited.’ The live event revisited the PACCAR decision one year later and explored what the future?holds for legal funding in the UK and beyond.
Panelists included Ben Knowles (BK), Chair International Arbitration at Clyde & Co , Robert Marven KC (RM), Barrister at 4 New Square Chambers , Nicholas Marler (NM), Head of Technical Underwriting at Litica , and Neil Purslow (NP), Founder and Chief Investment Officer, Therium Capital Management Limited.The panel discussion was moderated by Tets Ishikawa , Managing Director of LionFish Litigation Finance Limited . Read the full article here >>
#litigationfinance #litigationfunding #litfin #legalfunding #legalfinance #paccar #virtualevent #thoughtleadership
Commercial: LexShares Cancels Plans for New Fund and Halves Payroll
Although the litigation finance market is regularly touted as a fast-growing sector despite global economic conditions, the protracted timelines and uncertainty inherent in lawsuit investing continues to create hurdles for some funders looking to raise new capital.
An article in Bloomberg Law covers a new development at LexShares, as the litigation funder has reportedly cancelled its planned launch of a new fund and has initiated a reduction of its payroll by half, with the company now consisting of five employees. As the article explains, these employee cuts follow the departure of LexShares’ former CEO Max Doyle in June of this year, with managing director Max Schmidt taking over the leadership of the funder.
Speaking with Bloomberg Law, Schmidt expanded upon some of the difficulties that LexShares is facing in the current market, saying that “the pandemic caused tremendous delays and many cases that we thought would settle or just at least be resolved through the middle and end of 2024 haven’t resolved yet.” However, whilst Schmidt acknowledged that this was a pause in LexShares’ fundraising activity, he expressed hope that this would change in the following two years. As Schmidt explained, “We are still planning to resume our funding efforts when the company can demonstrate sufficient data, when more cases in our portfolio will resolve and when the commercial litigation finance market climate improves.” Read the full article >>
Legal Innovation: Darrow Expands PlaintiffLink to Support Mass Arbitration
Darrow AI , the leading legal intelligence platform, today announced the launch of Darrow’s PlaintiffLink platform for mass arbitration.?With tens of thousands of plaintiffs already uniquely vetted on PlaintiffLink, the platform offers unparalleled quality of service for law firms in the pursuit of justice.
PlaintiffLink is a revolutionary plaintiff-connecting tool for law firms, now built to support the complexity of mass arbitration cases. PlaintiffLink enables attorneys to plan, review, and approve potential clients through a centralized portal. It allows attorneys to connect with the large volumes of clients needed for mass arbitration. Using the platform, attorneys can gain data driven insights that power effective filing strategies and streamlined case management, backed by Darrow’s top-tier legal consultancy.
“PlaintiffLink provides a cutting-edge solution to the risks and costs associated with mass arbitrations, and makes it easier for attorneys to promptly connect with the tens of thousands of clients needed for these types of cases,” said Evyatar Ben Artzi , Co-Founder and Chief Executive Officer of Darrow. “We’re committed to delivering technology that helps victims connect with the best law firms to ensure justice is served, even in the most complex matters that require expert attention.” Read the full article >>
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#litigationfinance #litigationfunding #legalfinance #legalfunding #arbitration #legaltech #legalintelligence
Regulatory Issues: UK Delays Litigation Funding Bill Until Summer 2025
One year ago, the UK Supreme Court shook up the litigation funding landscape with its now infamous PACCAR ruling. There has since been a push to reintroduce the Litigation Funding Agreements (Enforceability) Bill, but it appears the decision to do so will now be delayed until this time next year, at the earliest. City AM reports?that Lord Sandhurst Guy Rhys wrote to the Ministry of Justice asking if the bill would be reintroduced, and the decision by the Ministry is to wait until an official review has concluded, which should take us into the middle of next year. In its announcement, the Ministry noted “the critical role third-party litigation funding plays in ensuring access to justice,” yet also recognized that “concerns have been raised about the need for greater regulation of Litigation Funding Agreements.” Read the full article >>
People Moves
Clarion Promotes Partner in Costs and Litigation Funding Team
Emma Colantonio Joins AALF's Board as Director
Court House Capital Appoints Heather Collins GAICD as Chief Investment Officer
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