May 4, 2021, Chicago, IL –
Delta Capital Partners Management LLC, a global private equity firm specializing in litigation and legal finance, has announced the expansion of the Global Asset Recovery Consortium (the “GARC” or “Consortium”) to provide bespoke litigation finance and asset recovery solutions for projects having an India nexus (“GARC India”). Building on its experience providing a solutions-based funding approach for such claims, Delta has formed GARC India and is adding Darshan Hiranandani of the Hiranandani Group, a leading Indian company with expertise in large-scale technology, real estate and investment projects to the Advisory Board of GARC. Through GARC India, the members of the Consortium will be able to better service the needs of claimholders in India and elsewhere that desire to pursue asset recovery or litigation with an India nexus.
GARC India will offer state-owned enterprises, government agencies, banks, investment funds, and businesses a complete solution to enable them to pursue asset recovery projects and/or litigation having an India nexus, including:
- In-Bound Work – Claimholders outside of India that seek to recover assets within India and/or pursue litigation against parties in India; and
- Out-Bound Work – Claimholders in India that seek to recover assets outside of India and/or pursue litigation against parties outside of India and/or in foreign jurisdictions.
The Consortium will typically be engaged by claimholders to undertake work on a purely success fee basis, meaning that such claimholders would pay nothing unless and until a successful outcome is achieved, in which case the Consortium receives a negotiated percentage of the fair market value of the successful recovery or litigation. In connection with such engagements, the Consortium will work with prominent Indian law firms for the provision of legal services to claimholders on a case-by-case basis, with such arrangements and the professional fees paid thereunder being separate from success fee arrangements between the Consortium and the claimholders, consistent and compliant with Indian law.
In addition to Delta, GARC India is comprised of top tier professional service firms, including law firms, investigators, forensic accountants, public relations professionals, government relations specialists, and consultants, each of which have many years of experience pursuing litigation, arbitration, and/or enforcement actions across the globe, and all of whom are respected leaders in their field. GARC India consists of the following members:
- Aarna Law LLP – a boutique Indian law firm that delivers quality and excellence in specialized areas of the law. The firm works on litigation and transactions within India that the Consortium undertakes.
- Delta Capital Partners Management LLC – is the lead funder and project manager for the Consortium.
- DLA Piper LLP – is the Global Lead Legal Counsel for the Consortium.
- FTI Consulting (SC), Inc.– is the Global Lead Media and Public Relations Firm for the Consortium.
- KPMG Assurance and Consulting Services LLP – is the Global Lead Forensic Accounting Firm for the Consortium.
- Mintz Group LLC – is the Global Lead Investigative and Intelligence Firm for the Consortium.
- Shardul Amarchand Mangaldas – a full-service law firm that is one of the largest in India, known globally for its work in dispute resolution and arbitration and regulatory litigation. The firm handles Indian litigation and transactional work for the Consortium.
- WestExec Advisors LLC – the Global Lead Geopolitical Firm for the Consortium.
Christopher DeLise, Delta’s CEO and Co-CIO, stated, “Delta is very pleased to be launching the India initiative of the Global Asset Recovery Consortium, where extensive regulatory change has led to the encouragement of third-party funding in-country. Litigation finance is a young industry in India, and Delta believes that the Consortium will be able to service a relatively untapped and growing litigation finance market, as well as other markets across Asia, and thereby allow claimholders within and outside of India to pursue their claims having an Indian nexus with much greater confidence. The Consortium’s work will be invaluable in enabling Indian and non-Indian claimholders alike to obtain fully-funded, bespoke recovery and litigation solutions for projects having an India nexus. This should in-turn materially increase the likelihood that their projects will be successful and that they will obtain justice for the harm caused them.”