Harbour Litigation Funding, one of the UK's main third-party litigation funders, has moved to allay fears that it could be hit by the liquidation of one its hedge fund owner's main funds.The company confirmed to Legal Week that it will not be affected by the news, announced last week, that hedge fund MKM Longboat is set to liquidate a $1.5bn (£813m) fund after reportedly being affected by the fallout of Lehman Brothers. MKM Longboat created Harbour last year to invest in litigation cases but Harbour's head, Susan Dunn, said the fund and current cases it has an interest in, will not be adversely affected by the liquidation.Dunn has been at the forefront of the funding sector, having previously been managing director of IM Litigation Funding. IM backed one of the biggest third-party funded litigation cases in the UK - the $173.6m (£90m) negligence claim brought by creditors of failed UK company Stone & Rolls against City-based accountancy firm Moore Stephens. She commented: "Nothing about Harbour and its cases is affected by recent events."
October 02, 2008 at 02:01 AM
1 minute read
The original version of this story was published on Legalweek
Harbour Litigation Funding, one of the UK’s main third-party litigation funders, has moved to allay fears that it could be hit by the liquidation of one its hedge fund owner’s main funds.
The company confirmed to Legal Week that it will not be affected by the news, announced last week, that hedge fund MKM Longboat is set to liquidate a $1.5bn (£813m) fund after reportedly being affected by the fallout of Lehman Brothers.
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