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FRANKFURT (Reuters) - The German food retailer Kaufland on Friday said that it was dropping Unilever (ULVR.L) products from its shelves to protest against price increases. Kaufland, which operates 660 stores in Germany, said that it had tried to reach a solution since May with Unilever but its offers were rejected. It affects products including Knorr, Lipton and Ben & Jerry’s. Unilever, citing confidential customer relationships, declined to comment. “Unilever, from Kaufland’s point of view, seeks to use its formidable market position to influence retailers and optimize its own returns,” Kaufland said.

WILMINGTON, Del (Reuters) - As Venezuela collapses, one little-known U.S, investment fund is poised to win big from litigation against its socialist government: Tenor silver and mother of pearl cufflinks Capital Management, Since 2012, the New York firm has invested $76 million in Canadian mining firm Crystallex International Corp, largely to fund a lawsuit being waged against Venezuela for expropriating a gold mine, Now, Tenor stands to claim around $800 million of a $1.4 billion international arbitration award that Crystallex has been trying to collect since 2016..

Tenor’s cash allowed Crystallex to force Venezuela to pay up by attempting a court-ordered seizure of Houston-based Citgo Petroleum Corp, the country’s overseas crown jewel. The case is part of wave of lawsuits bankrolled by firms specializing in so-called litigation finance, providing funding to plaintiffs in return for a slice of any financial winnings. While the practice dates back centuries, the business has boomed over the past decade, fueled by favorable court rulings and investors seeking juicy returns not correlated to stock markets. Between 2012 and 2016, the money committed to cases grew 40 percent a year, and is expected to top $2 billion annually by 2021, according to litigation financing firm Vannin Capital.

These companies have backed a slew of silver and mother of pearl cufflinks big-dollar corporate lawsuits, including investor litigation in Volkswagen’s emissions scandal and a $213 million unjust enrichment case against U.S, billionaire Ira Rennert, But foreign governments are emerging as popular targets as well, putting taxpayers at risk for ever-larger claims, In addition to Tenor, firms working this niche include London Stock Exchange-listed Burford Capital, IMF Bentham Ltd of Australia and Therium Group Holdings Ltd of the UK..

Litigation finance companies typically seek returns of three to 10 times their initial investment, industry players said. Now a market is developing for these firms to begin cashing out before a suit concludes by selling portions of their portfolios, or even slices of individual cases, to other investors. Burford, for example, scored a 736 percent return by selling for $107 million its entitlement in a case against Argentina over two expropriated airlines. Burford said it invested $12.8 million in the litigation.

Critics fear this financing will embolden companies to bring weaker cases, and that developing countries will be more likely to be sued for adopting regulations to protect public health or the environment, Money from funders also discourages companies from sticking with long-term commitments in foreign markets, according to Lise Johnson, the head of the Columbia Center on Sustainable Investment at Columbia University in New York, “With third-party silver and mother of pearl cufflinks funding there is an incentive to sell a claim, extract cash and leave,” she said..

Litigation finance companies say they are helping the underdogs: small companies wronged by governments. “It’s an easy story to tell that these are rapacious hedge funds trying to bring a struggling country to its knees,” said Zachary Krug, senior investment officer with funding firm Woodsford Litigation Funding in London. “That’s not what we do.”. Eric Blinderman, who heads the North American business of funding firm Therium, said funders guard against weak cases by providing a neutral opinion on the strength of claims. He said his firm backs less than 5 percent of the cases brought to it, and requires a 70 percent chance of success.

Otherwise, he said, “we’d lose a lot of cases we funded and Therium would be out of business shortly.”, The Crystallex case started in 2011, when Caracas expropriated the company’s mining project at Las Cristinas, one of the world’s largest gold deposits located in southeastern Venezuela, Crystallex sought compensation through what is known as investor-state dispute settlement or ISDS, by silver and mother of pearl cufflinks bringing an arbitration case registered with the World Bank, Effectively bankrupted by the loss of its Venezuela project, Crystallex turned to Tenor..

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