NEW YORK, Oct. 11, 2013 /PRNewswire/ -- Bentham IMF, the U.S. arm of IMF (Australia) Ltd, the world's first and most successful litigation finance company, announced that The American Lawyer will honor IMF among the "The Top 50 Big Law Innovators of the Last 50 Years." A special reception was held yesterday evening in Manhattan. Representing Australia-based IMF founders Hugh McLernon and John Walker at the New York reception was Ralph Sutton, Bentham IMF's Chief Investment Officer and Jon Siegel, a senior Investment Manager.
The American Lawyer published the Top 50 Innovators in its August issue, with the headline "Bringing Third-Party Litigation Funding to Australia – and the World." Recognizing the growth of the industry, the magazine observed: "More than anyone else, IMF (Australia) Ltd's Hugh McLernon and John Walker pioneered the model for investing in lawsuits that's starting to take hold in the United States and the United Kingdom."
"Considering the tremendous impact the honorees have made on the global legal system, we are truly gratified by this distinction" said Hugh McLernon. He added: "Twelve years ago, we launched as a publicly traded company to make our operations as transparent to the bar, the judiciary and the public as possible. We continue to operate that way around the world."
IMF and Bentham provide access to justice for companies that would otherwise have difficulty funding large and expensive commercial disputes. IMF adheres to its own disciplined, highly selective "Australian funding model," which enjoys a better than 90% success rate. IMF has reviewed thousands of commercial cases in the last dozen years and invested in nearly 180. Its 150 completed cases have generated over $1.27 billion in damages or settlements for its clients. None of these cases could have been brought without IMF's funding. IMF has lost only five cases in 12 years.
About Bentham IMF
Bentham, IMF's US arm, offers law firms and their clients a highly experienced, risk-sharing partnership. IMF's proven record of success is unmatched by any other commercial litigation funder. Bentham recently opened its second US office, in Los Angeles.
SOURCE Bentham IMF