Silicon Valley Bank collapse poses ‘tremendous opportunity’, lawsuit funder LCM says Lawsuits The collapse of Silicon Valley Bank poses a “tremendous opportunity” for more lawsuits, funder Litigation Capital Management (LCM) has said. The firm is readying itself to profit on an uptick in bankruptcies as the global economy hits a slump, the company’s chief executive has said. The Australian financier, that in February made £7m in profits [...]
London-listed Litigation Capital Management appoints veteran accountant as CFO BUSINESS Litigation Capital Management has appointed David Collins as its new chief financial officer, as Mary Gangemi is set to resign
KPMG’s Carillion settlement generates £7m profit for Aussie litigation funder Carillion An Australian litigation funder has more than doubled its money after giving Carillion’s liquidator millions to fight a £1.3bn lawsuit against KPMG. Litigation Capital Management (LCM) has generated more than £7m in profits after funding the claim brought by Carillion’s liquidator against the Big Four firm, the Aussie firm said today. LCM’s announcement comes [...]
Carillion liquidators secure funding to take KPMG to court for audit failures May 19, 2021 Carillion’s liquidators have secured a £250m funding deal with a litigation funder to take KPMG to court for audit failures. Litigation Capital Management (LCM) will fund a claim against the Big Four firm in the Commercial Court of the High Court. Carillion’s liquidators are taking KPMG to court for perceived audit failures, resulting in losses [...]
Google and DeepMind face class action lawsuit over patient data deal with London hospital May 16, 2022 London law firm Mishcon de Reya is bringing forward a major class action lawsuit against artificial intelligence (AI) firm DeepMind and its sister company Google over claims the two firms misused UK patients’ medical records while working with the Royal Free Hospital. The lawsuit, filed to the High Court on behalf of 1.6m individuals, comes [...]
Your guide to the 2021 London Cocktail Month September 29, 2021 No longer content with a mere week, this year’s celebration of mixology has been rebranded London Cocktail Month. Featuring a packed schedule of events, from food pairings to hands-on masterclasses, the next four weeks are the perfect time for booze enthusiasts to indulge. With dozens of bartenders creating hundreds of special drinks for the occasion, [...]
Litigation Capital Management bosses say Burford woes will not dampen sector September 10, 2019 The management of litigation funder Litigation Capital Management (LCM) said today that the negativity around fellow funder Burford Capital would not dampen the sector, as they announced their debut London results to the stock market. Last month Aim-listed Burford was savaged in an attack by shortseller Muddy Waters which criticised its governance and its use [...]
Listed litigation funders scramble to avoid Burford contagion August 8, 2019 Listed litigation funders have distanced themselves from Burford Capital today, after a short seller attack yesterday sent Burford’s shares on a rollercoaster ride. Manolete Partners and Litigation Capital Management (LCM) today pointed out how their models differ to Burford’s after their shares fell steeply yesterday in reaction to the short-seller attack on Burford. Activist Muddy [...]
Window slams shut on litigation funder floats after Burford Capital’s terrible week August 11, 2019 The attack by shortseller Muddy Waters on Burford Capital last week has slammed shut the window on other litigation funders looking to go public. Muddy Waters criticised Burford’s use of fair value accounting – the inclusion of unrealised gains – and accused the funder of “aggressively marking” the value of the cases on its books, something Burford denied. The Aim darling-turned-lame-duck lost [...]
Tetragon buys hedgie Polygon October 29, 2012 Tetragon Financial Group yesterday bought Polygon Management, once one of the world’s biggest hedge funds and a high-profile casualty of the financial crisis, for $98.5m (£61.4m), to expand its asset management business. Tetragon said it will use 11.7m of its non-voting shares to buy Polygon, founded in 2002 by Paddy Dear and Reade Griffith, as [...]