Litigation funder targets bankruptcies
Publicly-listed litigation funder Bentham IMF has announced a new initiative to finance bankruptcies and financial restructurings underpinned by new hires.
The company said its bankruptcy offering was being headed by experienced bankruptcy lawyer, Ken Epstein, who would direct the firm’s investments on behalf of debtors, creditors and other stakeholders in commercial disputes.
It said Epstein was formerly a managing director in the restructuring group at financial guarantor MBIA and previously worked within financial restructuring group at Cadwalader.
The Bentham announcement said it had also added an experienced in-house corporate and financial services lawyer, Christopher Young to serve as the company’s corporate counsel with responsibility for helping structure and negotiate Bentham’s growing US portfolio, both opportunistic stakes and commitments coming from its recently launched $200 million investment fund. He was previously in-house counsel at Royal Bank of Scotland.
The announcement said Bentham’s new bankruptcy unit would provide funding for creditors, trustees, debtors-in-possession and estates, as well as law firms seeking financial partners to advance insolvency cases.
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