Funders

Houston Law Firm AkinMears Files for Bankruptcy, Over $200 Million in Debt to Litigation Funders

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Houston, TX — AkinMears, a Houston-based law firm specializing in mass tort litigation, has declared Chapter 7 bankruptcy. The firm reported outstanding debts exceeding $202 million to two prominent litigation financiers. The legal filing, lodged in the U.S. Bankruptcy Court for the Southern District of Texas on January 23, has been placed under the jurisdiction of U.S. Bankruptcy Judge Marvin Isgur. AkinMears disclosed owing $115 million to Virage SPV 1 and an additional $86 million to Rocade Capital, two entities that have historically provided financial backing to law firms engaged in mass tort claims. Virage … Read more

Arizona’s Legal Landscape Transformed: Private Equity and Litigation Funders Seize Opportunities in Law Firm Ownership

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Phoenix, AZ — Arizona has become a burgeoning hub for the legal industry following the state’s decision to remove prohibitions against non-lawyers owning law firms. This groundbreaking move has attracted a notable influx of private equity firms and litigation financers keen to capitalize on this newly opened market. The change stems from the elimination of a rule that previously barred non-lawyers from holding ownership stakes in legal practices. Since this change was enacted in 2020, Arizona has approved 76 alternative business structures (ABS), applications, many of which include investments from private equity or litigation finance … Read more

Protecting American Intellectual Property: The Threat Posed by Foreign Funders in Mass Tort Litigations

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Santa Clara, Calif. – Lax regulations in the United States are creating an avenue for foreign adversaries to access sensitive corporate information and American trade secrets, posing a threat to national security. Strong intellectual property protections are crucial for sectors like aerospace, defense, biotech, and energy. Therefore, it is imperative to address this oversight. The issue revolves around mass tort litigations, which are personal injury legal actions involving large companies that allegedly caused harm to multiple plaintiffs. Attorneys specializing in mass torts can profit greatly from these cases, as they often receive a significant share … Read more