Related Professionals
NEW YORK CITY, June 1, 2018 – Stevens & Lee’s Nicholas F. Kajon, Co-Chair of the firm’s Bankruptcy and Financial Restructuring Department and Co-Chair of the Litigation Finance and Alternative Funding Group, presented at IMN’s Litigation Finance Conference. The event was held May 30, 2018, in New York City.
Mr. Kajon was a co-presenter for the session “Legal Perspectives: How Can Litigation Finance Best Be Utilized by Law Firms and General Counsels?” The presenters examined how the economics of litigation finance changed in recent years, why third-party funding is attractive to litigators, what information lawyers want from funders, the ways in which law firms are changing their practices to embrace litigation finance and the pros and cons of single case funding versus using a bespoke portfolio approach. Mr. Kajon was asked to present a case study on the use of litigation finance in a bankruptcy proceeding. The case chosen by the conference organizers was MagCorp, where Mr. Kajon closed a $26.2 million sale to Gerchen Keller Capital, LLC, n/k/a Burford Capital LLC, of the right to receive a portion of net recoveries on account of a bankruptcy trustee’s $213 million judgment against The Renco Group, Inc. and Ira L. Rennert, while the judgment was on appeal to the Court of Appeals for the Second Circuit.
Mr. Kajon has over 30 years of experience advising clients on financial restructuring, corporate governance and commercial litigation matters. He primarily represents debtors, hedge funds and trustees, and regularly represents lenders, buyers of distressed assets, investors, suppliers, directors and executives. His clients have included companies in industries such as retail, apparel, transportation, energy, manufacturing, technology, telecommunications, hospitality and services. Mr. Kajon also has significant experience representing plaintiffs and defendants in insolvency related litigation including claims involving preferences, fraudulent transfers, breach of fiduciary duty, wrongful redemption, declaration of illegal dividends, equitable subordination, recharacterization and veil-piercing.
Mr. Kajon has negotiated a number of multi-million dollar agreements with litigation funders pertaining to both insolvency and other commercial litigation claims, and has extensive contacts in the litigation finance industry. As a result, he and the lawyers in the Litigation Finance and Alternative Funding team can provide an end-to-end solution for clients seeking to assert litigation claims without committing their own capital.
Mr. Kajon has an LL.M. in Corporation Law from New York University School of Law, a J.D., cum laude, from New York Law School and a B.A. from Fordham University.
