Financing

Industry Innovator Nicholas D’Aquilla Moves to Counsel Financial, Signaling Major Shift in Mass Tort Financing

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Williamsville, NY — In a notable development in the legal finance industry, Nicholas D’Aquilla, an esteemed figure with an extensive background in mass tort financing, has recently been appointed as the Vice President of Business Development at Counsel Financial, a leading provider of credit lines and financial solutions tailored specifically for the legal sector. This strategic move is anticipated to significantly fortify Counsel Financial’s service offerings, particularly in the dynamic realm of mass tort litigation. D’Aquilla brings to the table a robust portfolio of experience, having previously excelled in various significant roles within the legal … Read more

Chiquita Brands International Faces $38.3 Million Verdict for Allegedly Financing Colombian Paramilitaries

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Apartado, Colombia — A Florida federal jury has found Chiquita Brands International liable for its financial backing of a notorious Colombian paramilitary group implicated in countless killings, marking a historic judgment against the global fruit conglomerate. The jury awarded approximately $38.3 million to the families of eight men killed by the Autodefensas Unidas de Colombia, or AUC, which received millions of dollars from Chiquita even after being designated a terrorist organization by the U.S. in 2001. This landmark decision arrives nearly two decades after Chiquita admitted to making payments to the AUC and agreed to … Read more

Mass Torts Meets Mega Money: The Surge of Billion-Dollar Litigation Financing

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New York — In the competitive world of high-stakes litigation, the marriage between litigation finance and mass torts is transforming the legal landscape, attracting investors with the allure of potentially astronomical returns. Litigation finance, once a niche sector, has grown into a multi-billion dollar industry, offering funding to plaintiffs and law firms engaged in large-scale legal battles over issues like pharmaceutical side effects, environmental disasters, and product liabilities. Traditionally, funding a lawsuit could be financially crippling for plaintiffs and law firms, especially in cases that stretched over years. However, with the advent of litigation finance, … Read more

Holding the Third-Party Litigation Financing Industry Accountable: AdvaMed Urges Congressional Reform to Protect Patients and Innovation

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Washington, D.C. – The U.S. House Oversight Committee held a hearing on September 13, 2023, to address the concerns surrounding third-party litigation financing. AdvaMed and its members have expressed significant worries about the impact of these financing practices. They argue that third-party speculators, along with the attorneys they fund, are taking advantage of the mass tort litigation system, prioritizing their own financial gain over the well-being of patients, medical device manufacturers, and the general public. By investing substantial amounts into advertising campaigns, these attorneys and financial backers can generate a large number of cases, many … Read more