Calunius news and media
Frankfurt, 17 March 2017
The DAJV Working Group Day discussed inter alia New Approaches to Attorney Remuneration and Financing in International Litigation/Arbitration on both sides of the Atlantic in times of Digitalization. Calunius partner Christian Stuerwald joined senior practitioners in a panel discussion about this topic. Click on the headline to access the full programme.
An arbitral tribunal in the case of Stans Energy v Kyrgyz Republic has issued an award favourable to the claimant on a number of jurisdictional objections that had been raised by the respondent state in the underlying UNCITRAL proceedings. A press release of the company can be accessed by clicking on the headline.
Calunius announces the closing of the Calunius Litigation Risk Fund 3 LP at a total of £100 million of capital. Calunius now advises funds totalling more than £200 million investing in large scale commercial litigation and arbitration assets.
Calunius is also delighted to announce the recruitment of Christiane Deniger as Senior Case Assessor. Christiane was most recently a senior associate at a well known international law firm. Click on the headline to access the full press release.
Calunius is pleased to report that Rusoro Mining Limited has been awarded nearly US$1bn plus interest (totaling ca US$1.2bn) in its arbitration against the government of Venezuela after circa four years of proceedings. Calunius has provided financing to Rusoro since the commencement of the arbitration in 2012. Please click on the headline to access the company's press release in full.
London, November 2016
Calunius partner Mick Smith was participating in a panel discussion with leading arbitration practitioners on questions of award enforcement and of which countries pay awards, and which do not. Click on the headline for the full programme.
Stockholm, 15 November 2016
Calunius partner Christian Stuerwald and fellow speakers will discuss at a seminar organized by the Swedish Arbitration Association (SAA) the use of and room for growth for dispute funding in Sweden and the Nordics; these countries have a business environment that creates relatively large disputes by the numbers and a sound and transparent legal culture with reliable courts and commercial arbitration. Please click on the headline to access the programme.
Christian Stuerwald and Mick Smith provide brief comments on an interesting case recently decided by the High Court, in which the High Court confirmed an arbitration tribunal's decision that the success fee a claimant pays to his litigation funder is recoverable from the losing defendant in certain circumstances. The decision constitutes an further development in the growing acceptance of dispute funding as an important tool for access to justice. You can click on the headline to access the summary and comments.
16 September 2016
Calunius partner Mick Smith and fellow panelists spoke about various aspects that may have an impact on determining the quantum outcomes of investor state arbitrations. Please click on the headline to access the programme and full list of speakers.
Leslie Perrin gives a Masterclass on Litigation Funding
Leslie Perrin presents a session on 'Litigation Funding' as part of Sweet & Maxwell's online professional development programme. The Masterclass is a 30 minute video discussing the topic and is in the format of a structured interview.
Calunius partner Mick Smith participated in a panel in Madrid that discussed Third Party Funding and Private Cartel Damages actions in Spain. It was organised by the antitrust section of the Madrid Bar Association. The panel was moderated by Oriol Armengol, partner at Perez-Llorca. Click on the headline for further information.
London - 10 June 2016
Calunius partner Mick Smith took part in a panel session on Regulation of Third Party Funding at the Alumni Conference of the Queen Mary University of London School of International Arbitration. He was joined by fellow practitioners to discuss updates and insights from the Queen Mary Task Force on Third Party Funding. Click on the headline to access the full program.
Brussels - 9 June 2016
Calunius chairman Leslie Perrin participated in a panel discussion on the use of third party funding in arbitration with fellow professionals and senior practitioners. The event was co-organized by the Association for International Arbitration (AIA) and the Danish Institute of Arbitration (DIA). Click on the headline for further information.
Vienna 2/3 June 2016
Calunius chairman Leslie Perrin delivered the 'Keynote Address: Litigation Funding — A Global Perspective' at the Cost Strategies in International Dispute Resolution Seminar in Vienna on 2 June 2016. He also participated in the panel discussion 'Costing and Funding Strategies: Winning Ways and Ways of Winning' the following day. Click on the headline to access the full program.
London - 22 April 2016
Calunius' Christian Stuerwald participated in a panel discussion with fellow practitioners about ‘The rapid rise of litigation finance in cross-border insolvency’ on 22 April 2016. The panelists presented a case study and highlighted developments and differences in approach in key jurisdictions, including the UK, Germany and the USA. Click on the headline for details of the programme.
Calunius partner Christian Stuerwald was interviewed for an article in Commercial Dispute Resolution (CDR) on recent developments concerning litigation funding in Germany. The article provides information and views from him and other market participants on the sources of finance and scope of investments in litigation funding in Europe's largest economy.
18 February 2016
The article provides a short update on the work of the joint ICCA-Queen Mary Task Force on Third Party Funding. The final work of the Task Force will be published in the form of a Report on Third-Party Funding in International Arbitration as a volume in the ICCA series by September 2016. In the meantime, a draft report on Costs has already been completed and has become available for public consultation at both QMUL website and at the ICCA website.
Please read Mick Smith's chapter in Lisa Bench-Nieuwveld's and Victoria Shannon's book "Third Party Funding in International Arbitration" which explains the issues and subtleties behind negotiating funding agreements. Published by Wolters Kluwer Law & Business.
New York - 3 February 2016
Calunius partner Mick Smith participated in the presentation of a Report on Costs and Security for Costs prepared by the ICCA-Queen Mary Task Force on Third-Party Funding in International Arbitration.
3 December 2015 in London
Calunius is pleased to have been the headline sponsor of the conference ‘Third-Party Funding and International Arbitration: a 360 degree perspective’ presented by the International Bar Association (IBA) on 3 December 2015 in London, at which all relevant current aspects of the subject were debated by senior practitioners.
28/29 January 2016
Calunius partner Mick Smith led a workshop at C5’s “International Dispute Resolution involving Russian and CIS Parties“ on January 28th and 29th, 2016 in London. He was joined by senior practitioners in the field, sharing specialist knowledge and best practices with other industry professionals.
8 November 2015
Spain's economic and business newspaper Expansion recently published an article about the potential for litigation funding in Spain, especially in the currently troubled economic climate. Calunius is mentioned as one of the few litigation funders who are actively pursuing investment opportunities in the country. Click on the headline to read the Spanish language article.
26 November 2015
Calunius partner Mick Smith participated in a panel discussion about International Arbitration - The Quantification of Damages in M&A Disputes at a seminar co-hosted by the Italian Forum for Arbitration & ADR and the Luigi Bocconi University in Milan. The full programme can be accessed by clicking on the link above.
Calunius' Christian Stuerwald participated in a panel discussion at the recent International In-House Counsel Journal conference on 'Private Damages Actions and Collective Redress' in the context of the New Private Actions Regime from the Perspective of a Class Representative. Fellow panellists included senior representatives from Norway's Statoil and the UK's Which? consumer protection organisation.
2 November 2015
Calunius is delighted to have co-hosted the inaugural Queen Mary seminar on Group Actions in Arbitration. Leading experts from academic, practice and arbitration institutions and international organisation discussed different approaches in common and civil law systems, the emergence of group actions in commercial arbitration and the experience with similar cases in investment arbitration.
30 October 2015
The IBA Council recently adopted new guidelines on Conflicts of Interest in International Arbitration. Read Calunius partner Mick Smith’s comments by clicking on the headline.
27 October 2015
Calunius chairman Leslie Perrin will be speaking at the ADR in Asia Conference on 27 October on The Use of Third Party Funding in Arbitration: Is this a Developing Trend in Asia? -
Leslie and his fellow panelists will examine the opportunities and misconceptions around the funding process as Hong Kong looks to harmonize third party funding regulation and establishes the legal framework necessary to permit third party funding in arbitration.
The Times, 23 July 2015
Calunius chairman Leslie Perrin was interviewed in his capacity as chairman of ALF for an article in The Times published on 23 July 2015. The article provides an update on the activities of the litigation funding industry’s self-regulatory body.
21 July 2015
The Court of Appeal in Amsterdam has confirmed a first instance decision that chemicals manufacturer Kemira could be pursued before the Dutch Courts with regard to claims that relate to the sodium chlorate cartel. Finland based Kemira is the only remaining defendant after each of the other defendants settled the claims against them; one of the settling defendants (Akzo Nobel) is domiciled in the Netherlands. In line with recent developments at ECJ level the court ruled that the case may continue in the Netherlands against Kemira, notwithstanding that the only Dutch defendant has now dropped out of the case.
Calunius and the CDC group, a company of which is the claimant in the matter, announced a series of strategic investments in connection with this cartel and others on 5 October 2012.
8 June 2015
Canadian listed mining company Stans Energy has announced the entering into of an arbitration funding agreement with regard to its mining dispute with the Kyrgyz Republic.
Click on the heading to read the company's announcement.
21 May 2015
The European Court of Justice (ECJ) issued a judgment on important jurisdictional matters for cartel follow on cases; while it is being criticised for what it says (or does not say) about the applicability of arbitration clauses, its real practical meaning may lie in the claimant-friendly and clear decision that cartel victims can sue cartelists in the court of the cartel victim's domicile.
The decision should make it easier and more predictable for cartel victims to commence proceedings against cartelists for damages.
3 June 2015
Calunius partner Mick Smith participated in a lively Oxford Union-style debate about security for costs in arbitration at the 2nd Annual GAR Live in Frankfurt - you can read his Alice in Wonderland inspired position paper by clicking on the heading
18 June 2015
Calunius partner Mick Smith spoke at a Conference organized by the Italian Association for Arbitration and Arblt - The Italian Forum for Arbitration and ADR in Rome. It aimed to provide an opportunity for arbitral institutions, funders and legal practitioners to deal with the new challenges which Third-Party Funding is creating to the international arbitration community.
5 May 2015
Calunius chairman Leslie Perrin participated in a panel discussion about the risks of bribery and corruption in mining investments, and the importance of transparency on all sides, at this year's Annual Meeting of the World Initiative of Mining Lawyers.
7 May 2015
Calunius partner Mick Smith joined inter alia Christopher Style QC, Philippe Pinsolle and Gavan Griffith QC in a panel discussion on 'Fees and funding' to talk about the current practice of dispute funding and offer thoughts on what works and where more thought/work might be needed.
London, 19-21 April 2015
Calunius is pleased to support the School of International Arbitration/Queen Mary University of London’s conference ‘The Evolution and Future of International Arbitration: The Next 30 Years'.
13 February 2015
Leslie Perrin and Christian Stuerwald, partners at Calunius, discuss a recent cartel follow on claim settlement in the context of public companies' disclosure obligations.
14 January 2015
Calunius’ chairman Leslie Perrin comments on the recent Excalibur judgment, which clarifies certain aspects of a litigation funder’s liability for adverse costs.
11 December 2014
A brief assessment by Calunius' Christian Stuerwald of a recent Opinion by the Advocate General that could have wide ranging effects on how cartel follow on claims are pursued in Europe.
Litigation Futures - 10 April 2014
Calunius Capital has raised an extra £50 million to fund litigation and arbitration after closing its second fund with new cash from both existing and new institutional investors.
The Bloomsbury Hotel, London - 10-11 November 2014
Mick Smith is speaking at the session entitled: 'Litigation Funding: A Look At The Industry' at this year's OffshoreAlert Conference. The session will look at the pros and cons of the industry and explore how it works.
Dallas, Texas - 18-20 June 2014
Mick Smith joined the panel for "The Market for Awards" concerning TPF and monetisation of awards at this year's ITA Workshop in Dallas. The ITA Workshop is widely recognised as the leading conference in the field in the United States.
Madrid - 22 May 2014
Mick Smith participated in a Round Table discussion on "Issues related to drafting contracts with impact in the region" at The Spanish Arbitration Club Under Forty's (CEA-40) and the Centro de Innovación del Derecho of Comillas University ICADE ICAI's first annual one-day seminar.
CMS Cameron McKenna, Zurich - 5 March 2014
Mick Smith joined Tim Hardy of CMS Cameron McKenna to discuss 'Managing commercial risks of disputes - third party funding' at CMS' conference in Zurich.
Waldorf Astoria, Berlin - 10 and 11 February 2014
Calunius Capital LLP participated in DKN-Networks' Litigation Summit 2014 in Berlin. Leslie Perrin and Christian Stuerwald spoke on 'Managing Global Litigation Costs Risk'. See above for more details.
The Radisson Blu Hotel, Amsterdam - 30 January 2014
Mick Smith spoke at C5's Forum on "Litigation Funding: What Are Your Options?" - a copy of the brochure is attached.
Mondaq - 10 December 2013
Craig Chiasson, Borden Ladner Gervais LLP, writes about the viability of third-party funding in his article entitled "Canada: Financing Disputes - The Third-Party Funding Option" and gives mention to Calunius Capital.
Le Plaza, Brussels - 26 and 27 November 2013
Calunius Capital LLP is pleased to have been part of IBC Legal's 22nd Annual Advanced EU Competition Law Forum this year.
Sofitel London St James - 13 November 2013
Mick Smith was one of the speakers who took part in the discussion on Third Party Funding at the CDR Litigation Day on Wednesday, 13 November 2013.
Biicl - London - 24 October 2013
Mick Smith spoke on 'The Financing of Claims' at the 21st Investment Treaty Forum Public Meeting: The Economic and Financial Aspects of Investor-State Arbitration. Mick commented: “My fellow panel members and I enjoyed the discussion with a well-informed audience, and found a pleasantly surprising degree of consensus on issues such as disclosure that affect our industry”.
The Watershed, Bristol - 17 October 2013
Leslie Perrin spoke at the Guildhall Chambers' 6th annual seminar in Bristol as Chair of Calunius Capital LLP and the Association of Litigation Funders. This year's seminar focused on 'Damages claims – the foundations, formulation and litigation funding'. Leslie shared the session with Adrian Palmer QC of Guildhall Chambers; the topic: 'Damaged based agreements and funding of mid tier commercial claims'.
Boston - 6 to 11 October 2013
Mick Smith spoke at this year's IBC Annual Conference in Boston at the session on 'Hot topics in arbitration'. The Preliminary Program is attached.
BCCG - 13 September 2013
Christian Stuerwald spoke at the British Chamber of Commerce in Germany, UK Region's conference on "Litigation and Arbitration Funding of large commercial disputes in the UK and Germany". Please click on the title above for more details.
Frankfurter Allgemeine Zeitung (FAZ) - 25 June 2013
"Before the Court with the help of Litigation Funding" - Calunius Capital LLP was mentioned in an article in one of Germany’s leading daily newspapers, Frankfurter Allgemeine Zeitung (FAZ), as a leading provider of litigation funding, in particular in the area of cartel follow-on actions.
FW moderated at a discussion looking at third-party litigation funding
Mick Smith participated in Financier Worldwide's April 2013 edition of TalkingPoint. The topic: Opportunities for Third-party Litigation Funding. He was joined by Tom Custance at Fox Williams LLP and James E. Tyrrell at Patton Boggs LLP.
Mick Smith gives a Masterclass on Arbitration Funding
Mick Smith reviews the principal issues that arise when considering and/or using third party funding to finance arbitration and how they are handled in practice.
Following on from "Litigation Funding", this masterclass is essential for legal professionals and businesses involved in commercial and international arbitration.
Rachel Rothwell - The Law Society Gazette - 8 February 2013
Leslie Perrin, ALF’s Chair, reveals the introduction of tougher rules to ensure its members have the capital needed to fulfil their commitments.
Edward Machin - CDR - 27 February 2013
Edward Machin’s article highlights the high standards for membership to the Association of Litigation Funders, the obvious advantages of engaging its members and the risks involved in a market that is still very young and constantly changing. (CDR - subscription only.)
Sofitel St James Hotel, London | February 27 and 28, 2013
Calunius Capital LLP was a Session Sponsor at the 2nd Annual Conference: International Dispute Resolution Involving Russian and CIS Companies. Leslie Perrin spoke on Thursday, 28th February on 'Funding for Litigation and Arbitration: Overcoming Practical Difficulties and Enhancing your Chances for Success in Dispute Resolution'. Dany Khayat from Mayer Brown mediated.
The Bar Council Offices | 5 February 2013
Leslie Perrin gave an introduction to the legal, commercial and regulatory aspects of the funding of large scale commercial litigation and arbitration in both domestic and international contexts
Chris Crowe - Legal Business - December 2012/January 2013
Third Party Funding is making an impact and is here to stay ...
"In Touch" - January 2013
The Association for International Arbitration has published the January 2013 edition of their monthly newsletter "In Touch" which includes a book review by Yaroslava Sorokhtey of Third Party Funding in International Arbitration which contains a chapter by Mick Smith entitled "Mechanics of Third-Party Funding Agreements: a Funder's Perspective" - see page 4.
Paris - 26 November 2012
Calunius Capital LLP sponsored the ICC's 32nd Annual Meeting in Paris and hosted the evening's Cocktail Reception. This year's conference addressed Third Party Funding in International Arbitration.
Edward Machin - CDR - 25 October, 2012
The debate over the benefits of funding treaty claims continues in this article by Edward Machin in this week's Commercial Dispute Resolution.
Expansion - 26 October 2012
Calunious is mentioned in the Spanish periodical Expansion in an article on the growing cost of disputes and the business opportunity for international funding (Spanish language).
Litigation Futures - 5 October 2012
CDC and Calunius announce strategic investments by the Calunius Fund
The Bloomsbury Hotel, London - 8 November 2012
Mick Smith will be discussing the benefits of litigation funding at this year's GAR Live debate “This house believes third party funding is the greatest development since sliced bread”
Hong Kong - 17 October 2012
Mick Smith spoke at the ADR in Asia Conference held in Hong Kong on 'Third Party Funding - Who Holds the Purse Strings in an Arbitration? (And How Does that Affect the Arbitral Process)'. The ADR in Asia Conference is organised annually by the Hong Kong International Arbitration Centre.
August 2012 | page 24
Leslie Perrin contributed to August's Sector Spotlight focus - The Growth of Litigation Funding.
Press Release - 4 October 2012
The CDC Cartel Damage Claims group of companies (“CDC”) and Calunius Capital LLP are pleased to announce a series of strategic investments in CDC by the Calunius Litigation Risk Fund LP (“the Calunius Fund”), a market leader in the funding of complex commercial litigation and arbitration.
Reuters - 18 July 2012
Local news report on the Rusoro Mining Ltd. v. The Bolivarian Republic of Venezuela arbitration
Rotterdam - 27 September 2012
The Netherlands Arbitration Institute created the working group NAI Young Arbitration Practitioners (NAI Jong Oranje) in order to offer anyone under forty years old who is interested in arbitration a platform for discussing various current and practical topics. Mick Smith and Lisa Bench of Conway & Partners NV will be speaking on the topic of Third Party Funding in The Netherlands this September.
Sebastian Perry - GAR - 5 July 2012
Rurelec completes $15.45 million Fund Raising - Mick Smith comments in Global Arbitration Review’s recent article.
Sebastian Perry, GAR - 20 June 2012
GLG - Edward Machin, CDR - 18 June 2012
London - 28 November 2012
Leslie Perrin, Chairman of Calunius Capital is speaking in his capacity as Chair of the Association of Litigation Funders on “The future of the market - growth, standards and the voluntary code”. The seminar is being run by the Westminster Legal Policy Forum.
Hamburg – 8 June 2012
Christian Stuerwald was invited to give a presentation on arbitration funding for companies that do business with CIS countries at a conference in Hamburg.
The conference was co-hosted by the Hamburg Chamber of Commerce and the Russian-CIS Arbitration Network (“RCAN”).
Frankfurt – 25 May 2012
Christian Stuerwald was invited to speak at a Round Table discussion organised by the ICC YAF (Young Arbitrators Forum) to discuss Third Party Funding in International Arbitration which was held in Frankfurt on 25 May 2012. Christian spoke on the Code of Conduct for Litigation Funders in England & Wales, funders’ key commercial considerations, adverse costs/security for costs risk and the difference he perceives between the German and London markets.
Commercial Dispute Resolution - 10 April 2012 - Aleks Vickovich reporting
Christian Stuerwald, the former head of litigation funding at Allianz UK and now Partner with Calunius Capital, comments in Aleks Vickovich's article on litigation funding in Germany and Allianz’s withdrawal from the market. (Please note that only subscribers to CDR magazine will be able to view the article.)
Litigation Funding - February 2012 - Rachel Rothwell reporting
This article appeared in Litigation Funding magazine and reported on an event held at Herbert Smith’s offices in January. Leading experts, including Leslie Perrin, examined the impact of contingency fees which are due to be introduced in April 2013.
Click here to read the company’s Stock Exchange announcement - 1 March 2012
The Lawyer - 6 February 2012
Third party litigation funding was the topic discussed by The Lawyer’s panel this week and Calunius’ Christian Stuerwald was asked for his reaction.
The Waldorf Hotel, London 12-13 April 2012
Leslie Perrin, Chairman of Calunius Capital LLP, is a guest speaker at this forthcoming conference on the topic of Third Party Litigation Finance.
Edward Machin, Commercial Dispute Resolution - 3 February 2012
All hell broke loose last week in the world of litigation funding. There was a debate in the House of Lords on the Legal Aid and Sentencing and Punishment of Offenders Bill which included half an hour on litigation funding. This was instigated by an extraordinary lobbying effort by none other than the US Chamber of Commerce, the mouthpiece of Global Big Business and Enemy of Access to Justice, whose main purpose in life is to preserve the inbuilt advantage in litigation held by the biggest of businesses. The US Chamber rightly perceives litigation funding and the Access to Justice that it gives to SMEs as a serious challenge to the US Chamber’s members. The Chamber’s position has stimulated a series of replies from litigation funders. Here you will find a selection starting with articles in CDR (above) and Rachel Rothwell’s article in Law Society Gazette (below). A copy of the Parliamentary Briefing prepared by the Association of Litigation Funders of England & Wales can also be found below.
Rachel Rothwell - Law Society Gazette - 7 February 2012
The Association of Litigation Funders of England & Wales - 27 January 2012
Herbert Smith - 25 January 2012
Litigation powerhouse, Herbert Smith, recently held a seminar to discuss how anticipated changes to the costs and funding regime are likely to change the litigation landscape. Calunius chairman Leslie Perrin, was one of the speakers along with Lord Justice Jackson. Here is a copy of Herbert Smith’s bulletin following the seminar and a link to a fuller version of the report on Herbert Smith’s "litigation notes" blog.
Effective regulation is key to the sustainability of litigation funding - 20 January 2012
A report to be published later this month by researchers at the University of Oxford comes to the conclusion that litigation funding is useful in granting access to justice; the report further addresses the question whether effective regulation is needed within the sector to protect the integrity of all parties. Calunius participated in the market survey carried out by the researchers and we hope that with the help of the newly established Association of Litigation Funders, third party funders will agree to abide by the new Code of Conduct for Litigation Funding. For further information, please refer to the University’s website.
5 January 2012
If you are fortunate enough to subscribe to Global Arbitration Review you can read an article by Calunius’ Christian Stuerwald and Mick Smith deliberating the Fuchs and Kardassopoulos v Georgia ICSID case. It is unusual that details of an investment treaty claim supported by litigation funding are released into the public domain.
Peter Bert's Blog about Litigation, Arbitration and Mediation in Germany - 12 December 2011
The Royal Courts of Justice - 23 November 2011
At a reception in the Painted Room of The Royal Courts of Justice on Wednesday 23rd November, Lord Justice Jackson delivered a lecture on the Code of Conduct of the Association of Litigation Funders of England and Wales. Since the Code of Conduct itself emerged as a result of recommendations in Lord Jackson’s report (chapter 11), his views on the Code are seen as essential reading for anyone interested in litigation funding. The lecture is reproduced in full in the attachment.
Financial Times - Caroline Binham - 24 November 2011
A very interesting piece on the Code of Conduct appeared in the Financial Times on 24th November (for those of you behind the paywall you’ll find it dated 23rd November).
Code of Conduct of Litigation Funders
In the flurry of excitement around the launch of the Association of Litigation Funders of England and Wales and their Code of Conduct Leslie Perrin, now Chairman of both the new Association and of Calunius, thought you might like to see the press release issued on 23 November by the Civil Justice Council and the Association.
Legal Week - Suzi Ring - 24 November 2011
Law Society Gazette - 15 November 2011 - Rachel Rothwell
The Calunius Chairman, Leslie Perrin, has been a member of the Civil Justice Council Working Party which has now completed its task of devising a Code of Conduct for Litigation Funding in England and Wales. More to follow but here is a teaser from the Law Society Gazette.
31st October 2011
The current issue of industry magazine ‘Litigation Funding’ features an article by Calunius chairman Leslie Perrin and Calunius head of underwriting Christian Stuerwald on the growing acceptance of litigation funding by corporate claimants. The article describes two cases supported by the Calunius Fund, and the way the corporate minds in each case came to the conclusion that litigation funding was the right thing to do both from a risk management perspective and to allow them to concentrate on core business activities.
Allianz ProzessFinanzierung - 27 October 2011
The Allianz litigation funding subsidiary in Germany today announced that it will discontinue its business activity; the group wants to concentrate on its core activity. Existing litigation funding agreements will be complied with until the cases are concluded, but no new cases will be funded. Because the average lifetime of a funded case is between 2 and 3 years, this means that the company will still be active in the market for the coming years.
Calunius‘ Christian Stuerwald, who worked for Allianz until 2009, comments on the development as follows: “The subsidiary has become the victim of its own success in my view; after the humble beginnings of 2002 the industry and the company with it grew steadily, which led to greater demand for the funding of large commercial claims directed against very large corporate entities. Due to the fact that Allianz is one of the largest insurers in the world, numerous conflicts of interests ensued where the group acted as insurer of defendant companies. This irresolvable systemic conflict is in my view the best reason why litigation funding for large commercial disputes should be done by solvent and independent entities like Calunius.”
Dean Court Chambers, Manchester, 20 October 2011
Mick Smith was a keynote speaker at "The Essential Costs, Damages, Insurance & More Update for Commercial Litigators"
The Times - p35 - 30th August 2011
Litigation Funders to “The King”.
It is with immense pride that Calunius is able to announce that the Calunius Fund is funding litigation by Elvis Presley Enterprises against the successors to RCA Records, now part of the Sony Group. The case alleges that the Buy Out Agreement of February 1973, whereby RCA acquired the world-wide rights to the entire Elvis Presley back-catalogue was a “Conspicuously Disproportionate” bargain and that the Court should step in and impose “Equitable Remuneration” on the deal, particularly in the light of recent changes in German law that have extended the period of copyright protection to 50 years.
The case is proceeding in the Munich Regional Court under German copyright law.
Most cases that are funded by the Calunius Fund are confidential. However, in these circumstances, Elvis Presley Enterprises have agreed that publication was in the best interests of the litigation and we are delighted to have the opportunity to shine some light on the progress of our business as it becomes one of the leading names in large scale international commercial litigation funding.
The Hollywood Reporter - August 31, 2011 (Eriq Gardner)
It’s not often we turn up in Hollywood but we’re mentioned in a piece on Elvis Presley in yesterday’s The Hollywood Reporter.
The Lawyer, 31 August 2011 (Joanne Harris)
In the riot of press coverage over the Elvis case, this report in The Lawyer struck us as well-balanced and perceptive.
The Lawyer - 8 August 2011
As you can see Calunius helped The Lawyer to prepare this article, but that did not prevent The Lawyer from getting a few things “not quite right”. Lord Justice Jackson broadly approved Litigation Funding in his Review of Civil Litigation Costs, saying “[litigation] funding is beneficial and should be supported”. It is public knowledge that he set out three issues to be covered in a voluntary Code of Conduct; withdrawal by the funder, the funder’s role in settlement negotiations and capital adequacy requirements to be imposed on funders. All these issues are now the subject of discussions in a working party chaired by Michael Napier QC and working under the auspices of the Civil Justice Council. Leslie Perrin, the Chairman of Calunius, is a member of the working party. There is no reluctance whatsoever on the part of reputable funders to face these issues. In fact there is genuine enthusiasm on most funders’ part to set a high bar for the industry’s conduct, especially when it comes to financial soundness. In this respect, observers should bear in mind that Calunius Capital, which has been authorised and regulated by the Financial Services Authority as an Investment Adviser since June 2007, acts as the adviser to the Calunius Litigation Risk Fund LP (“The Calunius Fund”), a £40 million private fund based in Guernsey. The Calunius Fund is authorised and regulated by the Guernsey Financial Services Commission.
"Low going" - The Lawyer 21st March 2011
Law Society Gazette 27 January 2011
Legal Week 18 January 2011
The Lawyer 3 January 2011
City AM 10th November 2010
Law Society's Gazette 04 Mar 2010
Financial Times 27 Jan 2010
The AM Law Daily 20 January 2010
Legal Week 23 October 2008
The Financial Times Non-Executive Directors' Club
Frankfurt - 16 November 2011
Calunius’ Christian Stuerwald spoke at the 7th Annual Meeting of the ‘Gespraechskreis Investitionsrecht und –schiedsgerichtsbarkeit’ (Round table on investment law and investment arbitration) about ‘Managing the costs of investment protection treaty claims by way of Litigation Funding agreements’ in Frankfurt on 16th November 2011.