BVI Ruling Clarifies Jurisdiction's Stance On Legal Finance

Law360 (November 3, 2020, 3:18 PM EST) -- In the first written, reasoned judgment of its kind, Crumpler v. Exential Investments Inc.,[1] the British Virgin Islands Eastern Caribbean Supreme Court has approved the use of third-party legal finance for litigation and liquidator costs. While the court had previously allowed litigation funding agreements, there was no prior written judgment on the topic.

The decision related to a multinational Ponzi scheme run by Exential Investments, which collapsed in 2016, leaving thousands of investors with huge losses. The company was highly leveraged and had a dearth of available funds or liquid assets in the liquidation estate, and fraud claims were among the most...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!