Category: Litigation Finance

Litigation Finance Disclosure — It’s the Claimant’s Choice, for Now

Garrett Ordower | October 11, 2017

Claimants considering litigation financing often ask whether financing must be disclosed to U.S. courts. The answer in federal courts – for now – is no (save one limited exception).

Rule 26 of the Federal Rules of Civil Procedure currently requires initial disclosure of a broad range of information including the documents and other materials the party expects to use to support its claims or defenses, the computation of categories of damages, the identification of those who might have discoverable information, and insurance agreements. But the rule doesn’t require all potential disclosures, including for example, litigation financing arrangements.

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Why did I go from BigLaw to litigation finance? Good question.

Garrett Ordower | September 20, 2017

Since joining the Lake Whillans team this summer, I’ve been asking a lot of questions. To effectively finance litigation our team must completely understand the factual and legal basis for the claim. So we ask questions. But they have to be the right ones — informed by diligent research on the particular case and our legal knowledge and experience.

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Third Party Funding in International Arbitration – Rising Interest, Rising Protections for Funded Parties

Marla Decker | August 1, 2017

Third party funding of international arbitration disputes has been a hot topic for some time, and more and more we see its globalization take hold. Third party funding and international arbitration are a natural fit because of the great risks, high costs, and large amounts at stake in international arbitration disputes. Third party funding allows those costs and risks to be mitigated by the funder in exchange for a share of the potential award. In the past year, we have seen a noticeable uptick in the number of claimants seeking funding for international arbitration claims. (Lake Whillans funds U.S and Canadian litigation as well as domestic and international arbitration).

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Boaz to Deliver Keynote Address at NYC’s Litigation Funding Conference

Lee Drucker | April 27, 2017

On Friday, April 28, leaders of the litigation finance industry will gather in New York City at the 2017 Litigation Funding Conference to discuss the current state of litigation funding, as well as number of other topics relevant to the industry. The conference is a chance for legal and financial professionals to network with others in the industry and learn about the most pressing topics affecting litigation finance today.

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Defense-Side Litigation Funding – In Practice

Lee Drucker | April 17, 2017

Litigation funding is not just for plaintiffs. We, at Lake Whillans, provide defense-side financing using a unique transaction structure. While our approach does not work for all defense-side litigation or arbitration, in the right circumstances, our structure provides for a straight forward transaction that allows a defendant to optimally protect its business.

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Litigation Finance Ethics Primer

Marla Decker | March 8, 2017

The results reflect the growing norm of litigation funding. Forty percent of respondents have had firsthand experience working with a litigation finance firm. Interestingly, law firms with the most experience using litigation finance were the very largest and very smallest firms surveyed: law firm size of 500+ lawyers (48.57%) and law firm size of 2 – 5 lawyers (58.54%). Litigators whose practice concerns the energy industry had the highest proportion of firsthand experience followed by the technology sector; finance/banking had the lowest. A resounding 85% of those with firsthand litigation finance experience would use it again.

For those without firsthand experience, the most commonly cited reason for ruling out the possibility of litigation finance by nearly 75% of negative respondents was “ethical reservations.” We’d like to address those reservations with a primer on the ethics of litigation finance.

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Racing to The Start Line: Singapore & Hong Kong Take Steps To Permit Third Party Funding

Marla Decker | February 21, 2017

Recently, the race in Asia has led Hong Kong and Singapore to introduce legislation that would enable the use of third-party funding in arbitrations seated there. Lake Whillans funds litigation and arbitration globally, and we asked Nicholas Lingard, Robert Kirkness and Emily Stennett of Freshfields Bruckhaus Deringer’s international arbitration practice in Asia to detail the recent developments in Hong Kong and Singapore.

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How-To Win Clients and Influence Funders: A 2-Part Series

Marla Decker | December 20, 2016

As a member of the litigation finance community, I’ve had the opportunity to work with a varied cross-section of attorneys and one truth has emerged: business development is a pressure every practitioner is facing. Perhaps your New Year’s Resolution this year will include improving the efficacy of your business development efforts. If so, this series is for you. In Part I of this series, I’ll share my observations about what I’ve seen work in winning business. In Part II, I’ll share my thoughts on the related skill of how to best present your client’s case to a funder.

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UK High Court Affirms Arbitral Ruling that Party Can Recover Litigation Finance Costs

Marla Decker | October 3, 2016

The High Court decided an appeal brought by Essar Oilfield Services, which challenged an award granted in an ICC arbitration to Norscot Rig Management, in which the arbitrator directed Essar to pay not only Norscot’s damages and attorneys’ fees, but also Norscot’s costs of litigation financing. In the dispute between the two oil and gas companies, Norscot used financing to pay for its £647,000 in attorneys’ fees, and, as a result of the successful arbitration, Norscot was obligated to the funder for the greater of three-times that amount or 35% of the damages award. (The amount of the damage award has not been reported.) Essar challenged the arbitrator’s authority to award the litigation finance costs in the High Court.

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Litigation Finance: Creating a Code of Conduct

Lee Drucker | March 22, 2016

In mature industries, there is usually a set of rules outlining best practices for individuals and organizations. In newly developing industries, however, best practices are less clear, and once established spread more slowly. In order to promote the development of best practices in litigation finance, we recently identified key aspects of a funding arrangement that we believe will lead to the best results for a claimholder. Companies considering a litigation financing offer should consider the following principles and their importance:

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The best way for companies and their counsel to determine if litigation finance is an attractive option is to discuss it with us.