The case of Apothio, a hemp grower embroiled in a $1 billion lawsuit against a California county, has put Initial Litigation Offerings (ILOs) into the spotlight.
And while not a new thing in the world of blockchain, ILOs show the potential the technology can have when employed as a solution to a very persisting and very expensive problem—lawsuits.
Apothio and the problem with litigation funding
Apothio LLC, a vertically-integrated hemp business based in California, is the star of a lawsuit that has the potential to revolutionize the business of litigation in the United States.
In April 2020, the company filed a lawsuit against its native Kern County and the Kern County’s Sheriff Office, accusing them of destroying $1 billion worth of hemp crop. The company claims that it suffered the largest wholesale destruction of personal property by government entities in the history of the United States and is suing the county for $1 billion worth of damages.
However, despite its very valuable
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