The Indian Association for Litigation Finance (IALF) was launched recently to enable self-regulation and promote knowledge development of litigation finance in India.
Global litigation financers such as Omni Bridgeway, Phoenix Advisors and Profile Investment, and service providers like PSL Chambers, FTI Consulting, ICC, Grant Thornton and Singularity Legal are involved with the IALF.
The IALF initially plans to focus its efforts on international arbitration cases involving Indian parties, as these have a far quicker resolution time than traditional court matters, which can drag on for years in India.
Prior to transitioning to a more formal structure, the initial formation of the IALF will be spearheaded by the working group whose members include SICC Justice AK Sikri, Omni Bridgeway Asia chief investment officer Tom Glasgow, Singularity Legal partner Prateek Bagaria, and PSL Chambers managing partner Sameer Jain.
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