1 Dec 2011
Carey Olsen has listed the first ever litigation fund on the Channel Islands stock exchange (CISX) after it advised the fund, Argentum Capital Ltd, on the Jersey legal aspects of its multimillion-pound listing.
A team from Carey Olsen, led by partner James Mulholland and Daniel O’Connor, of Counsel, used city law firm Bristows, to provide advice on the Jersey legal aspects of the establishment of Argentum Capital Ltd as a multi-class Jersey expert fund. Carey Olsen also acts as a listing sponsor for Argentum Capital.
Litigation investment is gaining momentum in the UK as a new area of investment as an emerging asset class and the CISX listing breaks new ground for the Channel Islands.
This listing is for a third-party fund designed to invest in the funding of litigation principally in the UK, with a secondary focus in Australia, New Zealand, Singapore and Hong Kong.
A team from Carey Olsen, led by partner James Mulholland and Daniel O’Connor, of Counsel, used city law firm Bristows, to provide advice on the Jersey legal aspects of the establishment of Argentum Capital Ltd as a multi-class Jersey expert fund. Carey Olsen also acts as a listing sponsor for Argentum Capital.
Litigation investment is gaining momentum in the UK as a new area of investment as an emerging asset class and the CISX listing breaks new ground for the Channel Islands.
Bristows partner, Iain Redford, said: “Litigation investment is an evolving market offering significant growth opportunities. Argentum coordinates a research-focused investment process of identifying and reviewing commercial litigation cases, then manages the funded cases and the resulting proceeds of the investments; as each case settles, distributions are then made.”
This listing is for a third-party fund designed to invest in the funding of litigation principally in the UK, with a secondary focus in Australia, New Zealand, Singapore and Hong Kong.
Mulholland said: “The market in third-party funding is still new in the UK. However, its role has been increasingly recognised in supporting access to justice for all and the broader use of litigation funds has been endorsed by Lord Justice Jackson in his seminal report on civil litigation funding reforms.”
