Although the Russian litigation finance market is at an early stage of development, a surge in the interest for legal funding solutions could be observed over the last year. While third party financing for legal proceedings has previously been provided by private investors or by law firms as an auxiliary business, specialized litigation finance companies have only recently appeared on the market.
“Litigation finance is still a novelty to the Russian legal sphere. However, we have observed widespread support among the judicial community and government structures, who aim to make the Russian judicial system more accessible. “ says Aleksander Bogdanov, director of Seitenberg LLC. “Over the last year we’ve observed a large increase in the requests for litigation funding in Russia”.
As of 2019, Seitenberg LLC, founded by European and Russian business, finance and legal professionals, provides funding for commercial litigation and arbitration in Russia and the CIS. Based in St. Petersburg, Seitenberg funds cases starting from a value of ten million rubles, with a particular focus on contract disputes, shareholder disputes, insolvency cases, intellectual property disputes and commercial fraud as well as divorce cases.
Seitenberg is the first Russian litigation finance provider with particular expertise with international clients. As of February 2020, more than two thirds of cases funded by Seitenberg came from international companies or Russian subsidiaries of international companies. With a team made up of four nationalities, with ten different languages spoken, Seitenberg’s current field of work spans over six countries.
“Litigation Funding in Russia is particularly interesting for international businesses, who otherwise often refrain from pursuing even the most promising claims, due to the financial and other risks involved”, Aleksander Bogdanov explains.
Seitenberg provides its clients with tailor-made litigation funding solutions for their Russian operations, keeping up with international reporting and compliance standards. Besides financing, Seitenberg provides its international clients with analytical, business intelligence, AML compliance and asset tracing services, all provided by in-house teams.
ABOUT SEITENBERG LLC
Seitenberg LLC is the first Russian litigation finance company, specializing on international clients. Based in St. Petersburg, Seitenberg provides funding, analytics and operational support to claimants and law firms engaging in litigation, arbitration and restructuring in the Russian Federation and the CIS, significantly reducing the risk that comes with legal disputes in those jurisdictions.
For further information regarding Seitenberg and its activities, please visit www.seitenberg.net
Seitenberg LLC 3-Ya Sovetskaya Ulitsa, 9, A
191036 Saint Petersburg
+7 (812) 407 15 21