Sydney-based litigation funder attracts blue chip investors…

Big tech firms could lose legal shield for undesirable content.. Luminance announces “dramatic update” to due diligence solution…

Sydney-based litigation funder attracts blue chip investors…

Sydney-based litigation funder attracts blue chip investors
Litigation Capital Management (LCM) has announced the first close of a new third-party fund of up to US$150 million.

The fund will target global dispute finance investments including both single disputes and corporate portfolio transactions.

The Sydney-headquartered litigation funder’s Global Alternative Returns Fund has attracted blue chip investors including the large endowment of a US University and the asset management division of a large global investment bank.

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 “We are delighted to welcome our new partners and look forward to working closely with them to capitalise on the growing number of attractive opportunities available in the global litigation finance space,” said Nick Rowles-Davies, Executive Vice-Chairman of LCM.

The fund has raised $140 million with a further $10 million to raise. It will supplement capital deployed from LCM’s own balance sheet.

Big tech firms could lose legal shield for undesirable content
The US Department of Justice is weighing whether it’s time that the law caught up with technology by reviewing a legal shield used by large tech firms.

The Communications Decency Act includes an immunity from lawsuits involving third-party content on their sites. If Section 230 were to be removed, it would mean sites including Facebook and Google being liable for content posted on their sites, a significant threat to their business model.

“After 25 years it seems that the time has come for Congress to assess what changes to Section 230 are now needed,” said DOJ official Jeffrey Rosen.

He added that ideally, the benefits of the legal shield would be maintained while addressing growing concerns about some of the content that is posted online.

Luminance announces “dramatic update” to due diligence solution
Artificial intelligence platform Luminance has announced what it says is a “dramatic update” to its due diligence solution.

The update includes product include tools for model document and clause comparison and advanced clause analysis, which allows users to choose their model.

Other changes include the ability to batch review provisions and to identify the various forms of relevant provisions that are present across the data set.

 

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