Litigation Funders & Investment Platforms

• Represented litigation funder in its $115 million financing of a law firm relating to a monetization of its case portfolios. We represented the funder in all facets of the transaction, including negotiating and drafting the core transaction documents. The transaction included principal protection insurance, deposit control account agreements and complex issues with the funder’s third-party capital source.
• Represented litigation funder in its $28 million purchase of certain post-verdict judgment receivables in connection with claimant's international intellectual property litigation. We represented the purchaser in all facets of the transaction, including negotiating and drafting the core transaction documents. The transaction included judgment preservation insurance, a deposit control account agreement, and certain nuanced issues with the funder's third-party capital source.
• Advised litigation funder management company regarding $80 million dispute with investee company and its founders. We negotiated with the investee company and its other financing sources; and oversaw retention of litigation counsel and drafting of mediation/legal claims.
• Arranged, structured, and documented backstopping financing and insurance facilities for Florida-based litigation finance platform involving a total investment of $150 million. We negotiated and drafted deal documents for investment funds and for multiple investments into law firms. This involved insurance wrap product for principal protection.
• Advised litigation funder regarding the structuring and documentation of a $3.3 million prepaid forward purchase agreement with Israeli counterparty, including the obtention of a judgment preservation insurance policy. We prepared all transaction documents, including review of cross-border transaction issues, and interacted with the investment committee and third-party prosecution law firm.
• Arranged, structured, and documented $60 million financing for innovative technology platform helping borrowers to streamline and accelerate private credit transactions to intellectual property operating entities and their legal counsel pursuing monetization and claim assertion strategies against infringers. This involved an insurance wrap product for principal protection.
• Represented litigation finance providers in connection with investment funds, pooled investment vehicles, and first-loss capital tranche facilities exceeding $1.5 billion; and regularly advise funders on capital raising and fund formation.

Law Firms

• Designed and structured innovative legal structure for financing of marketing fees and expenses for mass tort portfolios involving multiple mass tort law firms and co-counsel across multiple torts, with a total value of $195 million. We provided for incremental purchase payments against performance metrics and structured it to obviate fee sharing concerns from a legal/ethics perspective. This bespoke structure was subsequently adopted by multiple funders, mass tort law firms, and marketing companies for the financing, growth, and advancement of mass tort portfolios.
• Represented a large U.S. law firm in multiple term sheet negotiations with prospective lenders worth a total value of $275 million. We led the negotiation of a complex financing transaction, structured with plans for post-closing syndication; and advised on critical deal terms and risk allocation, including Tillis-related provisions and guaranty obligations.
• Advised prominent mass tort law firm and lender syndicate based in Switzerland and U.K. on the restructuring of $52 million law firm credit facility, including the take out of an existing lender. We negotiated insurance wrap product and all transaction documentation for the credit facility.
• Negotiated term sheet and drafting documentation for law firm financing facility worth a total value of $45 million, involving capital sources in the U.K. and U.S. We advised on litigation funding ethics and enforceability. This involved multiple tranches of purchaser price payments to law firms.
• Structured financing of prominent of U.S. law firms, including intercreditor arrangements with existing financing source. We structured and drafted all documentation relating to master prepaid forward purchase agreement. The transaction involved use of insurance, deposit account control agreements and guaranties, as well as use of proceeds for funding borrowers' working capital and to repay existing indebtedness.
• Structured, arranged, and negotiated $10 million litigation financing transaction for provision of capital to major mass tort marketing firm acquiring cases of prominent mass tort law firm, which permitted funded law firm to take a leading role for the prosecution and settlement of mass tort claims. We advised on the use of prepaid forward purchase structure to address potential ethics/conflicts issues.
• Structured and arranged $6.4 million financing for prominent U.S. law firm for payment of marketing costs and expenses relating to innovative mass tort portfolios. This involved application of U.S. and U.K. law concepts; and extensive interaction with funder management team regarding marketing terms and regulation of litigation finance in the U.S.
• Provided structuring advice and documentation for start-up law firm involving multiple partners pursuing claims in federal and state courts. We advised on all aspects of a $20 million financing structure, negotiating terms for litigation funding and providing advice relating to formation of law firm and related documentation.
• Structured $14.3 million secondaries acquisition of financed claim portfolios through credit facility and related guarantees. The proceeds were used for funding borrowers' working capital and to repay existing indebtedness.

Companies & Claimants

• Advised named party and chairman in conjunction with $700 million credit facility, limited guaranty, and all related documents for a U.K. holding company's financing to a U.K. law firm. To our knowledge, this was the largest law firm financing transaction ever closed at the time.
• Represented founder regarding the terms of a $7 million financing arrangement for patent claims assertion against major patent infringers when disputes arose under the funding agreement. We negotiated resolution between the founder and funder that facilitated case settlement for an amount that provided both the founder and funder with a substantial return.
• Represented client in all phases of obtaining litigation finance. We educated the client about the industry; identified funders, made introductions, and assisted with claim summary and budget preparation; negotiated $12.9 million cross-border funding transaction that permitted the filing of NAFTA arbitration claims; effectively served as outside general counsel for all aspects of the financing transactions; and negotiated revised budgets and revised terms with the funder.
• Represented funded party in full life cycle of $20 million litigation financing transaction for patent infringement claims in the U.S. and Europe. We made introductions to funders, negotiated term sheets leading to the funded party receiving three term sheets; drafted and negotiated all funding documents; interacted with U.S. and foreign patent counsel; closed with two sets of litigation funders; and acted as outside general counsel for all funding purposes.