Litigation and dispute resolution: The new, new thing
Richard Fields likes antitrust cases; so far he likes them to the tune of $79m (£50m). Since late 2007, when he helped establish and float Juridica Capital Management on AIM, London Stock Exchange's junior market - raising $180m (£115m) in the process - Fields has been combing the US litigation market for commercial suits for his fund to invest in. Over the last three years, New York-based Juridica has sunk almost half of that money into five antitrust cases. Ferreting out the right antitrust case - that is, one in which liability has already been admitted - is as close to a sure thing as you can get in litigation financing, he boasts. The risk on liability "is typically very low [in these cases], especially in the United States, where there have been criminal convictions or plea agreements with the US Department of Justice," adds Fields, a former Dickstein Shapiro partner.
Two publicly-listed funds are investing in early-stage commercial litigation. Is this the start of a revolution or a sideshow for a few former lawyers? Richard Lloyd reports
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