Goodbye job applications, hello dream career
Seize control of your career and design the future you deserve with LW career

Litigation Capital Management secures 3rd corporate portfolio transaction with NRF

Litigation Capital Management has executed an agreement to finance corporate portfolio litigation transactions with NRF.

user iconTony Zhang 26 August 2020 Big Law
Patrick Moloney
expand image

The executed portfolio agreement transaction is set to provide a significant finance facility to a subsidiary of a global building and infrastructure contractor to fund a portfolio of its construction claims. 

The transaction, which originated through Litigation Capital Management’s (LCM) strategic alliance with Norton Rose Fulbright (NRF) and involved members of LCM’s team from Sydney, London and a specialist team established in the UAE, includes an agreement by LCM to finance up to 20 separate claims seated in jurisdictions ranging from Dubai to London, subject to the satisfactory completion by LCM of its due diligence.

Commenting on the new corporate portfolio, Patrick Moloney, chief executive of LCM, said they were delighted to be announcing a further corporate portfolio transaction which originated through their strategic alliance with NRF.

Advertisement
Advertisement

“LCM has the most experienced team in the market for originating and executing such industry-changing disputes financing solutions,” he said.

Nick Rowles-Davies, executive vice-chairman of LCM, added that this corporate portfolio further cements the funder’s position as leading the global market in corporate portfolio transactions and comes at a time of considerable growth and increased opportunity for LCM.

LCM told Lawyers Weekly they had achieved recent results on two of its existing corporate portfolio facilities – one for a global aviation business and the other with a building and construction company, which both delivered four resolutions each for the respective clients within the last financial year.

The portfolios were completed in a relatively short time frame compared with traditional single-case projects, according to LCM.

Cameron Harvey, head of disputes at NRF said that LCM’s finance facility will be of great benefit to our client and its ability to manage legal claims across multiple jurisdictions.

“Norton Rose Fulbright entered into a strategic alliance with LCM because we foresaw a growing need for corporate litigants to be able to engage in necessary dispute resolution without having the experience cripple their balance sheets, something which is even more crucial during the COVID-19 pandemic, Mr Harvey said.

“We look forward to continuing to work with LCM to offer financing and legal solutions to our international and domestic clients as they adjust to the impact of the pandemic and emerge during the eventual recovery.”

This comes after LCM had made moves to secure a non-exclusive arrangement with DLA Piper to give the firm’s clients access to up to £150m of funds to support large-scale commercial disputes. 

As part of the deal, DLA announced the creation of a new litigation fund – Aldersgate Funding – which will provide the firm’s clients access to finance with streamlined due diligence and decision-making processes, capitalising on its innate familiarity with DLA’s litigation style and personality.

You need to be a member to post comments. Become a member for free today!