Redress Solutions featured in the Canadian press
The National Post, one of Canada’s leading newspapers, features an article on the landmark ruling which opens the door for third-party litigation funders to invest in Canadian lawsuits. The author of the article summarises the Schenk vs. Valeant case, mentions the role played by Redress Solutions as third party funder of the claimant, and highlights the implications of the ruling by Justice Thomas McEwen of the Ontario Superior Court on the funding of single-plaintiff commercial litigation in Canada. See below for a full version of the article by Drew Hasselback.
In Valeant case, Ontario judge opens the door for third-party funders to invest in lawsuits
In a little noticed case involving Valeant Pharmaceuticals International Inc., an Ontario judge has broadened the ability for third party litigation funders to bankroll Canadian lawsuits. Third-party funding arrangements have been common in Ontario class actions and private arbitrations for quite a while. The Valeant case changes things by recognizing that third-party litigation hedge funds can…