PACCAR Revisited; Omni Bridgeway vs Apple Updates; Nera Capital Funds Truck Cartel Class Action; Insolvencies Drive Growth in India; and People Moves
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Events: Legal Funding Journal Virtual Town Hall: PACCAR Revisited - Aug. 15th at 11AM EST
Join LFJ at our next virtual town hall on August 15th where we will convene a panel of industry subject matter experts who will revisit the 2023 PACCAR decision and provide their insights around the future of legal funding in the UK, including key topics and trends such as:
? A recap of the PACCAR decision and its potential implications, along with the predictions made by funders and industry experts at the time
? How have those predictions panned out? What exactly have the implications been for UK litigation funders and the broader legal services industry over the past year?
? Are funders reconsidering the UK market entirely? Or just changing their underwriting standards, or perhaps building in an additional risk premium into their pricing, given the PACCAR decision?
? From a PR perspective, what have funders been doing differently, and how can they help persuade both the judiciary and the general public that this industry should not be over-regulated?
? Where will we go from here??What does the future look like in terms of the regulatory environment for litigation funding in the UK and beyond?
Panelists include:→ Neil Purslow, Founder and Chief Investment Officer at Therium Capital Management → Robert Marven KC, KC, Barrister at 4 New Square Chambers → Ben Knowles, Chair International Arbitration at Clyde & Co→ Nicholas Marler, Head of Technical Underwriting at Litica. → With Moderator: Tets Ishikawa, Managing Director at LionFish Litigation Finance Limited, Ltd.
Event details can be found here.
#litigationfinance #litigationfunding #litfin #legalfinance #legalfunding #PACCAR #events #thoughtleadership
Case Developments: Nera Capital Funding Truck Cartel Claims
The European truck cartel case has long stood out as one of the most prominent examples of litigation funders looking to support mass claims against large companies over their breaches of competition rules. The latest announcement of a funder supporting such a claim continues to demonstrate the importance of these case types.
An article in Business Mondays highlights a recent announcement from Nera Capital Limited, a legal finance firm with offices in Manchester, Dublin, and The Netherlands, that it will be funding over 25,000 claims as part of the truck cartel case. The claims brought against truck suppliers has been one of the most high profile class action cases in Europe, following the 2016 European Commission ruling which found MAN, Volvo/Renault, Daimler, Iveco, and DAF guilty of breaking EU antitrust rules over their co-ordination of pricing.
Aisling Byrne, director at Nera Capital Limited, highlighted the importance of third-party funding for the claims being brought against these truck manufacturers, stating that “while the cartel stopped running in 2011, the after effect was felt by truck owners in the following years, and it is important that those affected get their chance for justice.” The article also states that Nera Capital has appointed a German law firm to provide legal representation for the claimants it is funding. Read the full article >>
Case Developments: Apple and Omni Bridgeway Spar Over Venue for Subpoena Fight
As Legal Funding Journal reported earlier this month, the world of patent litigation funding has once again generated a high-profile dispute, as Apple pressed a court to enforce a subpoena against Omni Bridgeway over the funder’s alleged role in a patent infringement case brought against the technology giant. The legal fight continues to evolve last week, as the two parties seek to find favourable ground in a venue of their choosing.
An article in Reuters provides a recap of the events that have led up to the current standoff between Apple and Omni Bridgeway, before shedding light on the current state of affairs. At issue is the court venue following Apple’s filing of a motion to compel compliance regarding its subpoena of Omni Bridgeway for information relating to the MPH patent infringement lawsuit. The case had been assigned to the Delaware district’s chief judge, U.S. District Judge Colm Connolly, who has become a familiar name in the litigation funding world over his standing order enforcing disclosure of third-party funding in patent cases. Read the full article >>
#litigationfinance #legalfinance #litigationfunding #legalfunding #litfin #patentlitigation #patentinfringement
Case Developments: Omni Bridgeway Accuses Apple of “Blatant Attempt to Arbitrage the Courts”
As Legal Funding Journal recently covered, the world of patent litigation funding has yet again ignited a high-profile rift between a global corporation and a litigation funder, with Apple looking to compel Omni Bridgeway to answer its subpoena. This ongoing dispute shows no signs of cooling off as the funder has now filed a stout opposition to Apple’s request for the court to compel compliance with the subpoena, which Omni Bridgeway says “fails on all counts.”
Reporting by Emily Siegel of Bloomberg Law covers the latest developments in the fight between Apple and Omni Bridgeway over the former’s attempt to subpoena the funder for information around its supposed involvement in a patent infringement case.
On Monday, Omni Bridgeway filed its opposition to the Apple’s motion to compel compliance with the subpoena, in which it argued that rather trying to resolve the two parties’ differences over discovery, “Apple has rushed to compel non-party Omni to engage in burdensome discovery efforts based?on?Apple’s?unfounded?speculation?that Omni “should have” or “likely” engaged in actions Apple deems relevant.” Read the full article >>
Deals: High Insolvency Rates and Case Backlogs Drive Growth of Legal Funding in India
Whilst the majority of coverage on third-party legal funding tends to focus on established jurisdictions like Australia, the UK and US, one of the countries showing signs of life for the funding sector is India.
An article in The Economic Times looks at the rise of litigation funders in India and explores how this niche but growing market has seen startup funders focus on arbitration and insolvency disputes as an area to establish a market foothold. The article highlights nationwide data that shows ‘a total of 7,567 companies across sectors were brought into administration until March end’ and that ‘45 million cases are pending in courts across the country, including about six million cases in 25 high courts and 83,800 cases in the Supreme Court.’ Read the full article >>
People Moves
Maz Ghorban Takes Helm as President of Rockpoint Legal Funding, Leading Expansion into Probate Funding
NorthWall Capital l Appoints Scott Carpenter as Chief Operating Officer
Dr. Stephan Klebes Joins Deminor ’s Hamburg Team To Expand Its Leading Position In The German Litigation Funding Market
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