Silicon Valley Bank collapse poses ‘tremendous opportunity’, lawsuit funder LCM says March 14, 2023 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 [...]
KPMG’s Carillion settlement generates £7m profit for Aussie litigation funder February 20, 2023 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 [...]
Shell lawsuit: Institutional investors back legal challenge over climate risk February 11, 2023 A group of European institutional investors is backing a novel London lawsuit against Shell's board over alleged climate mismanagement.
London’s litigation financiers primed to profit on global downturn, Therium chief says February 3, 2023 London’s litigation funders are in a prime position to capitalise on the global economic downturn, the founder of one the UK’s top lawsuit financiers told City A.M. The economic slump threatens to stretch in-house legal budgets and drive an uptick in legal battles, Therium founder Neil Purslow said, which could force companies and litigants turn [...]
As the EU rehashes old myths of no win-no fee litigation, London stands to benefit February 1, 2023 In the EU, there are still many misconceptions about litigation funding. Here in London we must see it as a way for companies to manage risks and costs, writes Glenn Newbury
RBG Holdings shares plummet after professional services firm fires chief executive January 31, 2023 Shares in RBG Holdings today plummeted by more than nine per cent after the troubled professional services group said it had fired its chief executive. The AIM-listed professional services conglomerate said in a statement that its board has “lost confidence” in chief executive Nicola Foulston as it stated her “employment contract has been terminated with [...]
City Exclusive: How rising legal star Natasha Harrison is taking on London’s Magic Circle firms January 12, 2023 As 2022 has come to a close, City lawyers undoubtedly remember last year as the time the pay war among London’s biggest firms heated up in earnest, as the war for talent reached new highs. But away from the Square Mile’s biggest legal teams, 2022 will also go down as an incredibly exciting year for [...]
Dechert hires ‘high stakes’ litigator to fight journalist’s ‘hack-and-smear’ lawsuit January 10, 2023 US law firm Dechert has hired “high-stakes” litigator Kaplan, Hecker & Fink to defend it from being sued by a former Wall Street Journal reporter, over claims it hired hackers to tarnish his reputation and push him out of a job. Dechert is being sued by the WSJ’s former chief foreign correspondent, Jay Solomon, over [...]
Clawback: How Barclays is chasing down Covid-19 business loan cash January 10, 2023 Barclays has teamed up with a specialist insolvency practitioner to recover money loaned to small businesses through the UK’s Covid support schemes. The British bank has joined forces with insolvency firm Manolete Partners to recover emergency loans paid through the UK government backed Bounce Back Loan Scheme (BBLS), the Financial Times first reported. The UK’s [...]
Barclays, NatWest and HSBC increasingly targeted by litigation funders in wave of class-action lawsuits January 9, 2023 The UK’s top banks are increasingly being targeted with class-action lawsuits as litigation funders back claims against some of Britain’s largest lenders in their pursuit of high returns. Banks listed on the FTSE 100 index are currently facing at least 109 class-action lawsuits in multiple countries around the world, according to analysis by law firm [...]