Marius Nasta to be a guest speaker at the meeting of the North Eastern Circuit
Commercial Bar Association (“NECCBA”)
Marius Nasta, Chief Executive of Redress Solutions, will give a presentation on the latest developments in third party litigation funding to members of the NECCBA at a meeting to be held at St. Philips Chambers in Leeds on the 2nd March 2017. The meeting will be chaired by Mr Justice Males, a Presiding Judge of the North East Circuit, and will also include a presentation by Steven Fennell of Exchange Chambers on the latest developments in commercial law.
The NECCBA is an organisation that aims to promote the excellence of the local commercial bar and to foster relationships between the local bar and the wider legal and professional community.
Marius Nasta and Michael Zuckerman to be guest speakers at the Third Party Litigation
Funding Seminar hosted by the Europe Institute at the University of Zurich
Marius Nasta, Chief Executive of Redress Solutions, and Michael Zuckerman, Managing Director of Redress Solutions, are guest speakers at the Third Party Litigation Funding Seminar which will be held in Zurich, Switzerland, on the 3rd May 2017. The seminar will examine the litigation funding process viewed from the perspective of all stakeholders involved in it: client, funder and advisor. The event will be chaired by Dr. Nedim Peter Vogt, an Attorney-at-Law, lecturer at the University of Zurich and a former Head of Private Clients at Bär & Karrer, the leading Swiss law firm. Other guest speakers include Alan Roberts, Director, Grant Thornton, Channel Islands and Howard Smith, a barrister with Radcliffe Chambers, London.
The Europe Institute at the University of Zurich (“EIZ”) is one of the leading centres of expertise for European Law and is an important provider of advanced legal training in Switzerland. The EIZ provides consulting, training and information services in all areas of European law and Swiss commercial law.
The program and the registration form for this event can be accessed by clicking on the following link: http://www.eiz.uzh.ch/educationstudies/?L=1
Lord Grabiner’s lecture on Patel v Mirza – Illegality and Restitution Explained
by the Supreme Court now available on the Redress Solutions website
The second Queens’ Distinguished Law Lecture was held at Queens’ College, Cambridge University, on 19th October 2016. It was delivered by Lord Grabiner who spoke about illegality and restitution as explained by the Supreme Court in the case of Patel v Mirza  UKSC 42. Redress Solutions, a sponsor of the Queens’ Distinguished Law Lecture, is grateful to Lord Grabiner for the brilliant lecture and for agreeing to make it available on this website. Please click here for a full version of the lecture.
Marius Nasta delivers third party litigation funding lecture to Cambridge
University Law Faculty
At the invitation of Professor Neil Andrews, Deputy Chair of the Law Faculty Board at Cambridge University and a Fellow of Clare College, Marius Nasta delivered a lecture on third party litigation funding. The lecture entitled “Third Party Funding – a Feature of Modern Litigation” was attended Professor Andrews, professor Robert Turner (a former senior Master of the High Court and Queens Remembrancer) as well as by students of Professor Andrews’ Civil Procedure class.
Marius Nasta delivering the lecture on third party funding. From left to right: Marius Nasta, Professor Andrews and some of the students of the Civil Procedure Class
Another success for Redress
Redress agreed to provide finance to a claimant who brought a claim under an introducer agreement. The defendant deliberately hid transactions with parties introduced by the claimant in order to avoid paying commissions. Having secured funding from Redress, the claimant was able to achieve a satisfactory settlement on the eve of the trial.
Commenting on Redress’s involvement in the claim, the claimant stated: “I count myself very lucky to have a found a funder in Redress. They came onto the scene and transformed my case, by agreeing to pay all my legal bills and indemnify me against the other side’s costs. Their support throughout the case was invaluable. I got both justice and a substantial reward, to my great satisfaction”. Gordon Dawes, a partner at Mourant Ozannes, Guernsey, who acted on behalf of the claimant said: “I was really very impressed by how hands off they were, but also by the wisdom they brought, which I believe was a great help to the claimant in this case. I would have no hesitation at all in recommending Redress to any future client.”
Redress Solutions featured in the Times newspaper
The Times newspaper of the 1st December 2016 featured in its Law section an article on litigation funding. The author of the article, Edward Fennell, reports on the fallout from the Excalibur Ventures oil exploration case and the importance of a professional approach to third party litigation funding. Marius Nasta, Chief Executive of Redress, is also quoted in the article. Please click here for a full version of the article.
Third Party Litigation Funding for Listed Companies, November 2016 Special Issue
of International Corporate Rescue
Marius Nasta, Chief Executive of Redress Solutions, features in the November 2016 Special Issue of International Corporate Rescue, the leading journal dealing with cross border restructuring and insolvency issues. Mr. Nasta examines several important aspects of third party funding for listed companies such as the context in which these companies come to involve third party litigation funders and the main objectives that can be achieved by choosing the third party funding route. His article also deals with the issue of legal privilege over documents provided to/created by third party funders and with the level of involvement expected by a funder in the running of a funded claim. For a pdf reprint of the article please click here.
Stephen Adamson, CBE, CA
It is with immense sadness that we record the passing of our late Chairman, Stephen Adamson, CBE. Stephen’s wisdom helped to guide us in the early years of our business just as he was responsible for mentoring young insolvency practitioners when in practice, so many of whom have acknowledged his contribution to their subsequent careers. We intend to mark his distinguished career in a suitable fashion and will provide further information in due course.
The Board of Redress Solutions
For a short professional biography of Stephen Adamson please click here.
Redress Solutions PLC and Queens’ College, University of Cambridge to host the
second Queens’ Distinguished Lecture in Law to be delivered by Lord Grabiner, QC at
Queen’s College on 19th October 2016
Redress Solutions PLC and Queens’ College, University of Cambridge are delighted to host the second Queens’ Distinguished Lecture in Law which will be held at Queens’ College on the 19th October 2015. It will be delivered by Lord Grabiner, QC, Master of Clare College, Cambridge. He will be speaking on “Illegality and Restitution explained by the Supreme Court in Patel vs. Mirza”. The Queens’ Distinguished Law Lecture is now an annual event which exposes members of the College and distinguished guests to the most advanced thinking on the law. In conjunction with the lecture, Redress Solutions PLC is sponsoring several prizes and a studentship for meritorious graduate and undergraduate students to be awarded by the Director of Studies in Law at Queens’. These include the Redress Solutions Prize for academic excellence in Law and the Redress Solutions Studentship for LL.M students which will be presented by Lord Grabiner on the day.
Click here to view the full joint press release.
Redress Solutions featured in Sunday Times article on litigation funding
The Sunday Times newspaper of the 25th September 2016 featured in its Business section an article on litigation funding. The author of the article, Oliver Shah, reports on the story of a funded party, refers to the growth of the industry and explores some of the benefits and risks associated with it. Marius Nasta, Chief Executive of Redress, is also quoted in the article. Please click here for a full version of the article.
With the kind permission of the Sunday Times.
Third party litigation funding in insolvency, September 2016 issue of Financier Worldwide
Marius Nasta, Chief Executive of Redress Solutions, features in the September 2016 issue of Financierworldwide.com, a leading resource for corporate finance intelligence, with an article on third party litigation funding in insolvency. Mr. Nasta considers several aspects of third-party funding in an insolvency scenario such as the reason for which an insolvency practitioner is an ideal client and some myths that have developed about a third party litigation funder’s role in an insolvency.
For a full copy of the article please click on the following link: http://www.financierworldwide.com/expertbriefing/
For a pdf reprint copy of the article please click here.
Another success for Redress
Redress Solutions agreed to provide finance to joint liquidators of an investment company whose creditors included a major international bank (the “Bank”).
A fraudster, an ex-officer of the Bank approached one of its clients, posing as a financial consultant, and offered to set up an investment company for the client to be administered by a corporate services provider. The consultant would recommend investments to the nominee directors supplied by the corporate services provider. It was proposed that the investment vehicle be used to make a number of highly promising private equity investments which would be managed by the consultant on the client’s behalf. The client agreed and provided significant funds to the investment vehicle. The consultant obtained funds from the nominee directors, supposedly for genuine investments but in reality for his own personal use. After the embezzlement was discovered, the investment company was eventually placed into liquidation and the liquidators sought funding from Redress to bring a claim against both the consultant and the corporate services provider.
Having secured funding from Redress, the liquidators were able to bring the claim and to hire the services of a leading law firm to conduct the case. The action eventually settled and the liquidators obtained a highly significant settlement.
Commenting on the Redress’s involvement on the case, one of the insolvency practitioners who brought the claim and who is also a senior partner in a leading accountancy practice said:
“Redress is a high calibre litigation funding offering. It has proved to be the most responsive litigation funder from the initial approach, making a decision to fund and then providing the necessary funding. Redress has an incisive grasp of case facts, understands complex matters and is not shy of putting its money behind a strong claim, with entrenched opposition, to successful effect.”
Marius Nasta to be a panel speaker at the INSOL International Channel Islands
One Day Seminar to be held in Jersey on Thursday, 9th June 2016
Marius Nasta will be a panel speaker at the INSOL International Channel Islands One Day Seminar to be held in Jersey on the Thursday, 9th June 2016. The seminar will cover a number of cutting edge topics, including:
- The risks and liabilities of offshore directors in onshore countries;
- The increasing role of the regulator in tackling fraud;
- A real world actual case study of the Ablyazov case – how the Channel Islands have reacted and the lessons to be learned;
- Litigation funding – a new dimension;
- A round up of recent legal developments and proposals for change.
Other speakers on the day include Anthony Dessain and Edward Drummond (Bedell Cristin), Mathew Newman (Ogier), David Standish and Richard Heis (KPMG), Marcus Pallot and Jeremy Garrood (Carey Olsen), Jeremy Wessels (Mourant Ozannes), Susan Dunn (Harbour Litigation Funding), Ben Rhodes (Grant Thornton), Michael Adkins (Collars Crill), Tim Le Cornu (KRyS Global), Anthony Williams (Appleby), Raquel Agnello QC (Erskine Chambers) and Glen Davis QC (South Square). To access the registration brochure including the agenda for this event please click on https://www.insol.org/page/649/channel-islands-one-day-seminar
Marius Nasta to be a panel speaker at the JLT Commercial Litigation Conference on the
12th May 2016
Marius Nasta to be a panel speaker at the JLT Commercial Litigation Conference on the 12th May 2016; you may attend free of charge if you click on the following link:
Redress Solutions featured in the Canadian press
The National Post, one of Canada’s leading newspapers, features an article on the landmark ruling which opens the door for third-party litigation funders to invest in Canadian lawsuits. The author of the article summarises the Schenk vs. Valeant case, mentions the role played by Redress Solutions as third party funder of the claimant, and highlights the implications of the ruling by Justice Thomas McEwen of the Ontario Superior Court on the funding of single-plaintiff commercial litigation in Canada. See below for a full version of the article by Drew Hasselback.
In Valeant case, Ontario judge opens the door for third-party funders to invest in lawsuits
In a little noticed case involving Valeant Pharmaceuticals International Inc., an Ontario judge has broadened the ability for third party litigation funders to bankroll Canadian lawsuits. Third-party funding arrangements have been common in Ontario class actions and private arbitrations for quite a while. The Valeant case changes things by recognizing that third-party litigation hedge funds can…
Redress Solutions PLC supports triumphant inaugural Queens’ Distinguished
Lecture in Law
On 15th October 2015, Queens’ College, Cambridge hosted the inaugural Queens’ Distinguished Lecture in Law to a packed audience. Baroness Hale of Richmond, Deputy President of the Supreme Court spoke on “The Right to Live and the Right to Die”. Baroness Hale also presented the Redress Solutions Prizes for academic excellence in Law to the prize winners Jack Stewart and Fiona Lin. The event was followed by Dinner in the Old Hall at which Professor Richard Fentiman, the Chair of the Cambridge Law Faculty, announced that Redress Solutions PLC was providing a Studentship to five LL.M students.
Click here to read more.
Redress Solutions PLC sponsors Queens’ Distinguished Lecture in Law, the
Redress Solutions Prize for Academic Excellence and the Redress Solutions
Redress Solutions PLC and Queens’ College, University of Cambridge, have joined together to launch the Queens’ College Distinguished Lecture in Law. The inaugural lecture will be held at Queens’ College on the 15th October 2015. It will be delivered by Baroness Hale or Richmond, Deputy President of the Supreme Court of the United Kingdom. She will be speaking on “The Right to Live and the Right to Die”. It is intended that this will become an annual event, exposing members of the College as well as their distinguished guests to the most advanced thinking on the law. This is becoming increasingly relevant as London reinforces its position as the forum of choice for international commercial litigation and arbitration. In conjunction with the lecture, Redress Solutions PLC is sponsoring two Redress Solutions Prizes for academic excellence in Law, to be awarded by the Director of Studies in Law at Queens’, and which will be presented by the eminent jurist delivering the Lecture. In addition, Redress Solutions is providing a generous Studentship for Queens’ LLM students.
Click here to see the full joint press release.
Redress makes breakthrough for litigation funding in Canada
The Ontario Superior Court of Justice recently approved for the first time a litigation funding agreement relating to a single plaintiff. The case involves a claim for a US $10 million commission against a pharmaceutical company. This decision is ground breaking because litigation funding agreements had never previously been approved in Canada outside the class actions context. Prior to this decision, it was unclear whether third party litigation funding for private litigation offended against the rules prohibiting maintenance and champerty. Adam Stephens, a partner with Miller Thomson LLP, which is counsel for the plaintiff, states: “the approval of third party funding in the Schenk action is very significant. It is the first time such funding has been approved in Canada in the context of commercial litigation. Further, it is an important decision in the ongoing movement towards greater access to justice for litigants”.
Click here to see more details on this breakthrough ruling.
Marius Nasta delivers third party litigation funding lecture to Cambridge University
Marius Nasta, Chief Executive of Redress Solutions PLC, delivered a lecture on litigation funding to the Cambridge University LL.M class. The lecture entitled “the Future of Funding – Funding the Future” marked the end of the International Commercial Litigation course of the LL.M degree at Cambridge University.
Click here to see The press release from Queens’ College Cambridge.
Evolving trends in litigation funding, feature February 2015 in Financierworldwide.com
Marius Nasta, Chief Executive of Redress Solutions, features in the February 2015 edition of Financierworldwide.com, a leading resource for corporate finance intelligence, with an article on evolving trends in litigation funding. Mr. Nasta considers the challenges and opportunities presented by a recent increase in both the quality and the volume of claims presented for funding.
For a full copy of the article please click on the following link: http://www.financierworldwide.com/evolving-trends-in-litigation-funding/?rq=marius#.VNi8EtKsUhM
With the kind permission of Financierworldwide.com.
Pick your battles
The September 2014 issue of Legal Business, the UK magazine focusing on news from the national and global legal market, features an article on litigation funding. The author of the article mentions a number of recent developments in the third-party funding market including the focus of the industry on the funding of international arbitration and the increased attraction of the London legal market for international funders. Marius Nasta, Chief Executive of Redress, is also quoted in the article. Please click on the attached link for a full version of the article:
Marius Nasta, Chief Executive of Redress Solutions to be a panel speaker at the leading
Transatlantic Litigation Conference in Amsterdam
Marius Nasta, Chief Executive of Redress Solutions will be a panel speaker at the Transatlantic Litigation Conference to be held at the Renaissance Amsterdam Hotel from the 16th June to 18th June. The conference will focus on practical tools and cutting edge insights into complex multi-jurisdictional litigation. Mr. Nasta will be joined on the panel by Chris Warren Smith, Partner and Head of Investigations Europe, Middle East & Asia at Norton Rose Fullbright. The conference speakers include Queen’s Counsel, representatives of leading law firms such as Herbert Smith, Linklaters, Allen & Overy, Cravath Swaine & Moore, Sidley Austin, Simpson Thatcher, Skadden Arps, White and Case, Freshfields, Clifford Chance, Gide Loyrette Nouel, Hengeler Mueller, Houthoff Buruma, Manheimer Swartling and senior in-house counsel from Nokia and Novartis Pharma AG.
Another success for Redress
Redress Solutions agreed to provide finance to liquidators of an investment fund whose activities were limited to specific forms of investment with a bank appointed as custodian to release monies only for proper purposes.
The fund managers broke the terms of their mandate and the bank failed to supervise, with the result that the funds’ monies were used for improper purposes. These monies were lost, driving the fund into liquidation. As soon as Redress came on the scene and it became clear to the defendants that the liquidators now had adequate finance available, the defendants proposed mediation and a settlement was reached at an early stage in the proceedings. Commenting on Redress’ involvement on the case, the leading partner said: “I found Redress to be an easy, yet professional, litigation funder to work with. The take-on process was simple, and once the funding was in place (a process which was, again, straightforward) they allowed us and our clients to run the litigation as we saw fit, and paid our fees, and those of our third party service providers, promptly. In addition, their own strategic insight and litigation experience proved invaluable throughout the life of the case”.
Redress Solutions wins the UK Litigation Funder of the Year award in 2013 for the second
Redress Solutions is delighted to be the recipient of the UK Litigation Funder of the Year award in 2013 for the second year running. Louise Birkett, editor Acquisition International magazine, said :
“I would like to congratulate Redress Solutions on winning the UK Litigation Funder of the Year 2013 Award. Winning an Acquisition International award is no mean feat. Winners have to earn the votes of their peers and clients and then make it through our professional experts’ review. The process means that only the finest work, carried out by the stars of a profession, is rewarded. To work with an Acquisition International award winner is to be sure that you are working with the best.”
Securing third party litigation funding article, July 2013 edition of Acquisition
Marius Nasta, Chief Executive of Redress Solutions, features in the July 2013 edition of Acquisition International, the leading international magazine for corporate finance professionals, with an article on securing third party litigation funding. Mr Nasta considers the impact of the latest costs and funding reforms in England and Wales on the litigation sector.
For a full copy of the article please click on the pdf version.
With the kind permission of Acquisition International.
Impact of latest costs and funding reforms in England & Wales on the litigation sector
article, Recovery magazine.
Please click on the link to read the fully copy of the article:
With the kind permission of R3.
Marius Nasta, Chief Executive of Redress Solutions to be a panel speaker at the leading
yearly conference on litigation funding.
Marius Nasta, Chief Executive of Redress Solutions will be a panel speaker at the leading yearly conference on litigation funding which will take place in Central London on Thursday 23rd May 2013. The event is organised by LexisNexis® and will focus on the recent implementation of the reforms contained in the Review of the Civil Litigation Costs. Mr. Nasta will be joined by Messrs Rocco Pirozollo of QBE, the leading After the Event insurance provider, and Matthew Clark, a partner at Elborne Mitchell to discuss the impact of the recently implemented reforms of the civil litigation costs regime in England on third party litigation funding. Other eminent speakers at the conference include the Hon. Mr. Justice Ramsey, Lord Daniel Brennan QC (Matrix Chambers) as well as partners from Mishcon de Reya, Irwin Mitchell, McGuire Woods and many others.
Why certain litigation and arbitration claims are fundable, feature March-April 2013
edition of CDR magazine.
Marius Nasta, Chief Executive of Redress Solutions, features in the March-April 2013 edition of CDR, the leading international magazine for litigation and arbitration professionals, with an article on third party finance. Mr Nasta considers why some litigation and arbitration claims are fundable, while others are best ignored.
For a full copy of the article please click on the pdf version. With the kind permission of CDR.
Redress named as a 'Leading Adviser 2012' in the litigation funding field by Acquisition
Please click the link below to read the full article: