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Rand joins Bentham IMF as legal counsel

Tuesday, September 18, 2018 @ 3:06 PM | By John Chunn

Bentham IMF, a world-leading commercial litigation finance company, has hired Paul S. Rand as investment manager and legal counsel for its Toronto office.

Rand will undertake due diligence on individual commercial litigation claims. He will also consider portfolios of claims for corporate clients seeking creative funding solutions and law firms looking for funding to extend alternative fee arrangements to clients. Rand brings unique insights to the role having previously managed a portfolio of litigation matters as in-house counsel for Canada’s largest bank and more recently having focused on complex finance solutions for sophisticated corporate clients.

Rand is the fourth lawyer to join the company this year and follows Bentham’s recent expansion to Montreal, its second office in Canada and 14th around the world. Demand for funding has allowed Bentham Canada to consider close to 300 applications for funding since launching its Canadian operations in January 2016. Its investment committee has approved a number of Canadian investments including international arbitration, patent, class action, construction and breach of duty claims.

“Whilst still a relatively new concept in Canada, litigation funding is increasingly drawing interest from law firms and companies excited to learn how it can benefit their businesses,” said Tania Sulan, chief investment officer-Canada, Bentham IMF. “The level of early interest we’ve seen gives us cause to be optimistic about the impact we will have here over time,” she added.

“Paul will help us keep pace with the demand for funding and also provide the sophisticated strategic advice our clients and their counsel deserve. His understanding of capital markets and corporate issues rounds out our team’s capabilities and advances our ability to structure funding arrangements to the benefit of our clients,” said Sulan.

Rand’s 15 years of experience includes litigating complex corporate disputes, advising clients in connection with sophisticated financial products and risk hedging programs and representing parties in regulatory and commercial matters. He has managed litigation strategy in-house and overseen counsel handling various types of actions.

“I’ve been fortunate to gain exposure during my career to the process of managing litigation and managing corporate resources,” said Rand. “This informs my understanding of the risks and costs that companies and law firms weigh when considering whether to pursue claims. I hope to leverage this experience to serve Bentham’s clients’ interests.”

“Litigation finance is a much-needed innovation for the legal market” Rand continued. “I’m excited to join a team that is leading the way in bringing that innovation to Canada. I greatly respect the foundation Bentham has built here and the company’s track record of delivering funding solutions with provable benefits. This can make a real difference in the business community and the legal industry.”

Rand joins Bentham from Blake, Cassels & Graydon LLP, where he was counsel for four years, during which he enjoyed a client secondment where he oversaw a legal team supporting over $30 billion in fund investments. Before joining Blakes, he held positions as litigation counsel and Capital Markets senior counsel at Royal Bank of Canada. Prior to going in-house, Rand practised with the litigation group of a predecessor firm to Norton Rose Canada LLP.

Rand earned his law degree from University of Western Ontario in 2002 and his bachelor’s degree from Queen’s University in 1998. He was called to the Ontario bar in 2003.