Leading international dispute financier IMF Bentham and renowned global litigation and arbitration firm Boies Schiller Flexner announce a collaboration to provide up to $30 million in funding capital for cross-border disputes with a Vietnamese connection.
This world-first collaboration combines IMF Bentham’s financial support with BSF’s unmatched legal and Vietnam expertise to benefit foreign investors or Vietnamese businesses in Vietnam-related disputes, including international arbitration or US/UK litigation.
Vietnam is poised to become Asia’s next economic powerhouse. It has one of the fastest-growing economies in the world and a population approaching 100 million. It is also attracting record foreign investments in major infrastructure, manufacturing, real estate, and energy projects. Leading local businesses are also beginning to expand their operations abroad. When disputes arise, they typically involve multi-national parties and multi-jurisdictional proceedings. These disputes are complex and costly, and they require legal representation with a mix of local, regional and international expertise. Very few international players offer such expertise or the flexible sources of dispute finance that litigation funding offers. Until now.
What does the IMF-BSF arrangement mean for clients?
Together, IMF and BSF bring the capital and know-how required to pursue complex and high stakes Vietnam related claims. The arrangement brings clients:
- fast and streamlined funding assessment (within 4 weeks)
- legal representation by one of the world’s leading trial and arbitration law firms with unique Vietnam expertise
- risk-free recoveries (neither BSF nor IMF Bentham recover any costs unless the claim is successful)
How will the arrangement work?
IMF will fund preliminary investigations into potential claims and also subsidize BSF’s legal fees and external expenses (e.g., expert witnesses) for claims that proceed. Funding arrangements will be tailored for each specific case.
IMF’s Chief Investment Officer (Asia), Tom Glasgow, said: “IMF and BSF have had a strong working relationship on funded matters, and our US division successfully funded a matter with Mr. Tran that resolved in 2016. Our new arrangement with BSF responds to increasing demand for legal representation in cross-border disputes involving Vietnamese parties and assets. It also reflects the growing appetite for third-party finance as a tool for resolving disputes in Asia.”
Luan Tran, partner at BSF, said: “I lead a unique practice which combines the Vietnamese perspective (jurisdictional know-how, local contacts and language) with BSF’s global disputes expertise. I recently lived and worked in Vietnam and Asia and regularly travel for work there. I have an intimate knowledge of the market. This collaboration with IMF allows foreign investors doing business in Vietnam, as well as Vietnamese companies doing business internationally, to pursue cases prosecuted by a leading law firm that previously might have been beyond reach for cost reasons.”
Quyen Ta, partner at BSF, said: “I have represented the top companies based in Asia and the United States in their highest-stakes intellectual property, class action, and trade secrets disputes—whether in state or federal courts, or in international arbitrations. Clients appreciate that they can come to BSF for their Southeast Asian disputes, be able to retain experienced trial lawyers like me and Luan who are culturally and linguistically competent, and have access to a reputable litigation funding source.”
As Chief Investment Officer (Asia), Tom Glasgow leads the Asian investment activities and business expansion for IMF Bentham. Prior to joining IMF Bentham, Tom was a senior member of market leading international arbitration and disputes practice in Asia, where he handled complex multi-jurisdictional commercial matters for leading global businesses across a range of sectors
Luan Tran has more than 20 years of experience in international arbitration. He has handled, both as counsel and arbitrator, some of the most significant Vietnam- related international arbitration matters. He co-authored the Vietnam chapter for two major international publications. Prior to BSF, Luan was an international arbitration partner at a prominent Vietnam-based law firm. He was also an early member of the international arbitration practice at Quinn Emanuel Urquhart & Sullivan. He is currently a member of the AAA-ICDR’s Council and Asia Advisory Committee. He has three law degrees, including one from Harvard Law School.
Quyen Ta co-leads Boies Schiller Flexner’s Bay Area practice. She is a graduate of UC Berkeley School of Law and is a highly sought-after trial lawyer who has more than 15 years of experience litigating high-stakes disputes in the United States and in international arbitrations. Her practice has included representing top Asian-based companies, such as Taiwan Semiconductor Manufacturing Company, in its most sensitive cross-border matters, and which has included litigating jurisdictional issues throughout the United States. Her current clients include top Fortune companies, as well as Asian-based companies such as VNG Corporation (Vietnam) and Rakuten (Japan).