Webster’s New World College Dictionary, 4th Edition. Copyright © 2010 by Houghton Mifflin Harcourt. All rights reserved.
Litigation generally is a very costly resolution to a business problem, and our clients do not recognize spending resources simply going through the motions” in litigation. They expect us to be proactive, to rapidly stake out highly defensible positions, and to use all opportunities to deliver litigation to a fast close. We assess your issues with the finish line in thoughts and map the shortest and most effective route to get you there. That’s the true difference between us and firms with much less numerous expertise. Our rich backgrounds in a wide array of litigated topics help us predict outcomes nicely, reserve assets for the place they are most needed, and affect outcomes by means of thorough yet pragmatic trial ways.
Travis Lenkner of Burford, who was on the Gerchen Keller team that made the MagCorp funding, advised me Judge Vyskocil’s blessing with a capital B” should open the best way for other bankruptcy trustees to work with litigation financiers – an idea he’s pushing with trustees and their legal professionals. In a way, the MagCorp deal is an instance of the classic litigation funding model of shopping for an curiosity, at a discount, in a judgment. But making use of the mannequin in a chapter continuing is a brand new and evidently profitable avenue for funders.
London has long been a popular forum for international litigation and arbitration but lately a lot of different financial centres, including Singapore, Dubai and Qatar, have been setting up English-speaking commercial courts staffed by British and worldwide judges in an effort to challenge London’s dominance. London’s reputation as a hub of subtle monetary markets and legal programs is likely to be at risk if the results of the EU referendum sees Europe’s financial centre migrate towards the continent, taking their disputes and the authorized services with them.
It’s simpler to grasp how these deals would work by means of the specifics of the MagCorp transaction. In the Nineteen Nineties, MagCorp was one in all North America’s largest producers of magnesium and magnesium alloys. Its father or mother company was (virtually) wholly owned by Rennert and Rennert trusts. MagCorp ran into critical issues with the Environmental Protection Agency, nonetheless. According to the bankruptcy trustee, Rennert interests engaged in complicated financial shufflings, together with a MagCorp debt providing, that basically diverted all of the worth of the company to them while isolating the environmental exposure. MagCorp entered bankruptcy in 2001.