May 28, 2020
Jeremy Opolsky has told The Globe and Mail that “the case is quite clear that litigation funding has a potential role in CCAA cases” when speaking about a Supreme Court of Canada ruling in favour of litigation financing.
Jeremy’s comments appear in an article that details a recent surge of interest from overseas third party litigation funding companies in the Canadian market, and highlights a significant case where the SCC overturned a decision made by the Québec Court of Appeal and granted permission for the appellant to obtain third party litigation financing (9354-9186 Québec inc. v. Callidus Capital Corp).
“This being the first time the Supreme Court has weighed in on litigation funding, I think this is the stamp of approval." Jeremy said.
Jeremy also noted that the SCC ruling is of particular relevance to companies that are in financial distress and have no other access to litigation funding. He further added that a potential legal claim might be some company’s only major asset.
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