litigation funding News

For the World’s Super Rich, Litigation Funding Is the New Black

When shares of AMP Ltd. plunged earlier this year after the firm was engulfed in a fee-for-no-service scandal, the Australian wealth manager was hit within weeks by the first of five separate class action lawsuits. It wasn’t just the seriousness …

Former Georgia Lawyer Accused of Using Client Names to Apply for Advances

Federal prosecutors in Atlanta, Ga., say a former lawyer used the identities of three dozen former clients without their knowledge to apply for fraudulent litigation advances. Prosecutors said in a news release Monday that Chalmer “Chuck” Detling II, was indicted …

Billionaire Backs Personal Injury Lawsuit Funding Firm

The billionaire George Soros has found a new way to make money from personal injury lawsuits. Soros Fund Management is pushing into a branch of litigation finance that few hedge funds have entered. His family office is bankrolling a company …

Tennessee Could be First State to Cap Fees Related to Litigation Funding

Tennessee would become the first state in the country to enact legislation limiting the rate of interest that could be charged by “lawsuit financers” if Gov. Bill Haslam signs recently adopted legislation, according to the National Association of Mutual Insurance …

Lawsuit Financing Legislation Advances in Indiana

The director of a group of financing companies warned Wednesday that lawmakers “would eliminate this industry from Indiana” should they approve a measure targeting companies that provide cash advances – sometimes at sky-high rates of return – to people awaiting …

Should Insurers Be Concerned About Litigation Funding

Though third party litigation funding has just started to grab headlines in the U.S., the funding method has been used in Europe for some time. According to Jonathan Molot, chief investment officer and co-founder of Burford Capital, people in the …