Global litigation finance major Omni Bridgeway eyes India entry

Omni Bridgeway, which is one of the largest litigation funders in the world with assets under management (AUM) worth over $3 billion, is planning to enter the Indian market to aid banks, businesses, and resolution professionals (RPs) in recovering bad offshore debts and assets held abroad.  

“The Indian market has a lot of potential and remains untapped with plenty of domestic opportunities,” said Tom Glasgow, Managing Director, Omni Bridgeway. He was speaking at India’s first Litigation and Insolvency Summit, 2022, which was organised last week by LegalPay, a domestic litigation funding start-up. 

Glasgow, who has been with Omni Bridgeway since 2017, further said that while litigation funding is a widely prevalent concept globally, it is still quite new to India even as homegrown start-up LegalPay has been working towards creating awareness regarding the scope and potential of the segment.  

Simply put, litigation financing is third-party funding for litigation matters. While litigation financing is quite new in India, it is quite popular in many of the developed economies where there are dedicated ventures that specialise in such kind of funding.  

“The pace at which litigation financing has grown across the world over the last decade is phenomenal and the Indian market presents a lucrative opportunity for global investors having thesis of ESG investing,” said Glasgow. 

This assumes significance as data from the Insolvency and Bankruptcy Board of…

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