Shipping lawyers Tom Birch Reynardson and Nina Hall, who previously worked at Herbert Smith, have set up Global Arbitration & Litigation Services (GALS), which will specialise in funding disputes.
The brokers have sourced funding for six international arbitrations so far, though none of the cases have yet concluded.
GALS will focus on international litigation and arbitrations and will manage operations between the funder and the client. Funders are expected to take 25%-50% of the amount recovered, while GALS will work on a contingency fee arrangement.
Reynardson has experience in the sector after working as a partner at Holman Fenwick & Willan. He set up his own disputes boutique, Birch Reynardson & Co, in 2007.
Hall commented: “The
The company is the second third-party litigation fund broker to emerge in recent months after Calunius Capital secured approval from the Financial Services Authority to act as a specialised adviser and intermediary in litigation and general dispute risk in July.
Meanwhile, MKM Longboat, the hedge fund, has decided to diversify by creating a pool to invest in litigation. The fund will be headed by Susan Dunn, who recently left her role as managing director of IM Litigation Funding.
