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ARTICLE · 21 APRIL 2011

Significant Development in Litigation Funding under Hong Kong Law

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In the recent case of Geoffrey L. Berman v SPF CDO I, Ltd. and Others HCMP 1321/2010 (judgment delivered on 14th March 2011), Mr. Justice Harris pronounced a judgment that significantly developed the law regarding litigation funding in Hong Kong.

Hong KongLitigation, Mediation & Arbitration
Ludwig Ng
Ludwig Ng

In the recent case of Geoffrey L. Berman v SPF CDO I, Ltd. and Others HCMP 1321/2010 (judgment delivered on 14th March 2011), Mr. Justice Harris pronounced a judgment that significantly developed the law regarding litigation funding in Hong Kong.

 Background

 A Delaware corporation Syntax-Brillion Corporation (the "Company") entered into a Chapter 11 liquidation under the U.S. Bankruptcy Code. As part of its restructuring plan, part of the assets of the Company, including an indebtedness due to the Company by two debtors located in Hong Kong (the "Indebtedness"), was assigned to a trust in favour of the Company's creditors. Mr. Berman was the trustee of the trust (the "Trustee"). In order to have sufficient funding to pursue the Indebtedness against the two Hong Kong debtors, he assigned the Indebtedness (the "Assignment") to a litigation funder in Hong Kong (the "Funder"). The Assignment presumably provided for the splitting of net recovery between the Trustee

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