Jacqueline Young from Augusta Ventures discusses the challenge litigation funders face to balance support for access to justice with more commercial considerations
We operate in a strong and growing legal environment. The UK legal services industry is going from strength to strength. A recent report valued the market at £35bn in 2018, with growth forecast at 5% in the coming years. Continue reading “Sponsored briefing: With great funding comes great responsibility!”
High-profile litigation funder Vannin Capital has shelved its planned initial public offering (IPO) only one month after announcing its intention to float, blaming volatile equity markets.
The move is a blow for the fast-growing litigation funder, which in September hired Allen & Overy veteran David Morley (pictured) as chair to spearhead the October listing, which would have seen £70m of new shares issued and some shares held by existing shareholders sold. Continue reading “Vannin Capital shelves IPO as volatile market knocks Aston Martin and Funding Circle listings”
In its first financial results since the £43m IPO in May, Rosenblatt has recorded a slight uptick in revenue and profit as it simultaneously launched its own litigation funding arm.
For the first eight weeks of its listed life, Rosenblatt generated £3m in revenue, compared to £2.6m for a two month average in the last financial year. EBITDA edged up from £0.9m to £1m on the same metric while profit before tax was also marginally up: from £0.8m to £0.95m. Continue reading “Rosenblatt battles Brexit uncertainty in post-IPO financials as it launches litigation funder”
Fast-growing litigation funder Vannin Capital has appointed former Allen & Overy senior partner David Morley as chair ahead of a planned IPO on the London Stock Exchange.
The company announced today (10 September) that it planned to issue £70m of new shares and sell part of the shares held by existing shareholders in a float expected to take place in October. Continue reading “‘Litigation finance is here to stay’: Former A&O senior partner Morley joins Vannin ahead of IPO”
UK law firm Shepherd and Wedderburn has announced an eight figure sum portfolio-based litigation finance deal with Burford Capital for the first time to fund current and upcoming litigation the firm is handling.
The arrangement is the first to be offered by a top 100 UK firm with a litigation funder. City-headquartered Shepherd and Wedderburn has offices in London, Edinburgh and Glasgow. Continue reading “Shepherd and Wedderburn secure ‘substantial eight figure’ Burford litigation finance deal”
The Competition Appeal Tribunal (CAT) has today (21 July) ruled against certifying one of the first US-style £14bn opt-out consumer damages antitrust class actions, against payment giant MasterCard, in what would have been the UK’s largest claim.
CAT president Mr Justice Roth ruled against allowing the collective proceedings application on grounds that potentially disparate groups of claimants could not form a single class action for the purposes of this claim, regardless of the means of payments used or the retailer from whom the purchase was made. Continue reading “Court rejects landmark application for £14bn class action against MasterCard in Freshfields win”
Competition boutique Hausfeld is partnering with litigation funder Burford Capital to offer a financing package for UK claimants to pursue follow-on damages claims against the participants in a truck manufacturing cartel.
Continue reading “Hausfeld takes the wheel in truck cartel damages claim with funding from Burford”
The Road Haulage Association (RHA) has secured full funding from Therium Capital for its £3.9bn competition damages class action against truck manufacturers fined the highest-ever sum for a price-fixing cartel, as it seeks more UK claimants to join the case.
Continue reading “RHA secures Therium funding for claimants in £3.9bn trucks cartel class action”
Litigation finance outfit Burford Capital has seen its turnover soar 59% to $163.4m in a year which saw the financer aggressively expand with a US merger. Profit after tax was also up 75% to $115m, while the listed company now manages $2.3bn for legal finance. Continue reading “‘Our business has evolved’: Burford Capital income rises by 60% as demand for litigation finance grows”
Litigation funding company Burford Capital is set to acquire Chicago-based investment manager Gerchen Keller Capital for $160m to create a firm with $1.2bn in assets in ongoing cases. Continue reading “‘The clear leader’: Burford Capital merges with US rival Gerchen Keller to create funding powerhouse”