Global firm Eversheds Sutherland has launched ‘Total Dispute Finance’ in a push that it says has already attracted high-value work from competitors.
Augusta, which claims to be the UK’s largest litigation and disputes funder by case volume, has unveiled its latest fund raising, bringing in $115m (£93m) from an unnamed US-based investment manager.
AIM-listed litigation funder LCM received 419 applications for funding in its last financial year, an increase of 235% – but only agreed to fund 3% of them – its annual results have shown.
Litigation funder Vannin Capital – which last year shelved a stock market listing – has now been bought by US investment manager Fortress, which is owned by Japan’s SoftBank.
Litigation funder Burford Capital has described one of the agreements that has come under scrutiny in recent weeks as one where an outright win in the underlying case was not required.
The first shareholder class action against litigation funder Burford Capital arising out of the recent report by US short seller Muddy Waters has been filed in New York.
Burford Capital has bowed to pressure over its approach to corporate governance by announcing plans for a dual listing in the US, fresh directors and a new chief financial officer.
Shares in third-party funder Burford Capital fell sharply again yesterday despite its claim that trading patterns behind last week’s share price collapse were “consistent with illegal market manipulation”.