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Bank Cartel Claims Europe (BCCE), a joint venture between law firm Grantley Sinclair LLP and litigation finance firm Commercial Damages Claims Limited, today announced a $ 12 million funding round for its dedicated fundraising fund. litigation, the Bank Cartel Claims Fund (BCCF), providing institutional and retail investors with the ability to access a portfolio of litigation-related assets through a single fund allocation.

The BCCE has identified three recently decided EU antitrust cases that it believes are ideally suited for follow-up antitrust litigation: the European government bonds case, the sovereign, supra-sovereign and government bonds case. agencies and the foreign exchange business. In each of these cases, the investment banks participated in a cartel through a group of traders. Cartels between competitors are the most serious form of anti-competitive behavior and carry the most severe penalties. Fines totaling 1.47 billion euros ($ 1.73 billion) have been imposed on investment banks by the European Commission.

“Companies are responsible for violations of the antitrust law and victims are entitled to full compensation for the actual losses and lost profits they have suffered,” said Kees Arnaud, director of the BCCE. “In these three cases, for example, pension funds and hedge funds that have lost millions of dollars to these illegal cartels can effectively claim their damages through actions in a national court. A national court cannot overrule the European Commission on the issue of liability, so in most cases the only remaining issue to be decided is the amount of damages. This makes antitrust litigation very attractive to investors.

“Investments in litigation finance generally offer high returns,” said Frank Mulder, COO of litigation finance company Commercial Damages Claims Limited. “The key to higher returns is to select legal investments with key characteristics that mark them as effective investments. And through a variety of modern innovations in finance and law, investors can access litigation markets in ways that were not possible just a decade ago. “
The BCCE plans to use the capital to hire leading lawyers, notaries and economic experts to pursue these claims against the banks. The damage is expected to exceed $ 1 billion.

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Grantley Sinclair is a leading law firm with more than 25 dedicated lawyers and public affairs experts. Clients large and small, from some of the world’s largest multinationals to small tech start-ups, trust Grantley Sinclair to solve their most difficult and critical problems. We provide insight to the point where law, business and government meet, giving customers a voice and achieving positive results.
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About CDC
CDC is a leading litigation finance company that helps businesses exercise their right to full compensation for damages caused, for example, by breach of contract, trade offenses or illegal cartels. CDC may make the necessary arrangements to cover all risks and outstanding expenses relating to litigation, including any risk of adverse cost. It aims to provide an arrangement that works for the client; it therefore operates in both the insurance and financing markets.
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