Therium launches in Germany as the country’s first full service litigation funder
Dr. Christoph Kuzaj to lead Therium Deutschland GmbH
DUESSELDORF/LONDON, March 13, 2017. Therium Group Holdings Limited, a leading global provider of litigation finance globally with over $300 million in committed capital, is launching operations in Germany with the incorporation of Therium Deutschland GmbH, headquartered in Duesseldorf. Therium Group Holdings is one of the largest and most established litigation financing firms in the world.
Therium has identified a substantial market for litigation funding in Germany, driven by the increasing number of corporate and commercial legal disputes within a regulatory environment that has become more complex over the past few years. Litigation funding allows individuals and companies to take on litigation and arbitration cases that they might not otherwise be able to afford, and/or to hedge the costs and risks involved in such matters. Therium pays for all of the costs, including adverse costs in the event that the case is lost, and only receives payment if the case is won.
Therium sees a particular demand in Germany for funding litigation across financial services, securities disputes, cartel damages situations, insolvencies, post M&A matters and shareholder disagreements, in particular arising out of joint ventures. The firm is already engaged in Germany and has financed various significant cases, including sophisticated legal proceedings for the remuneration of infrastructure construction work against a foreign sovereign state pleading state immunity and a securities litigation against a major German bank. In addition, Therium in London is funding the first UK claim against Volkswagen for the emissions scandal.
Dr. Christoph Kuzaj is the Managing Director of Therium Deutschland GmbH and has more than 20 years’ experience in corporate and capital markets law, and complex corporate litigation. His litigation practice includes disputes arising out of private and public M&A-transactions, such as defensive actions in takeovers, and corporate special situations. Christoph is admitted to the German Bar Association and holds a degree in law and a Juris Doctor, both with distinction. He is supported by a team of corporate and tax lawyers, all with significant litigation experience.
John Byrne, Co-Founder and CEO of Therium, said: “We are delighted to be the first commercial litigation finance business to open an office in Germany. Christoph is a highly regarded corporate and litigation lawyer who is praised by his clients for his creativity and commercial approach. We are very pleased that he has joined Therium and we are proud that he and his team are already enabling access to justice for claimants in some very substantial legal cases.”
Dr. Christoph Kuzaj, Managing Director of Therium Deutschland GmbH, said: “Therium is the pre-eminent global litigation funding firm and I am excited to lead the business in Germany. There is a huge opportunity to fund meritorious claims across a range of complex litigation and arbitration situations and we have a strong pipeline of potential cases.”
Neil Purslow, Co-Founder and Chief Investment Officer of Therium, said: “We have been active in Germany for some time but the increasing demand for our expertise from both lawyers and claimants across financial services and other areas make this a natural point to open an office in the country. We are funding some very significant litigations and are excited about the prospects for the business in Germany going forwards.”
Therium Deutschland GmbH is located at Martin-Luther-Platz 26, 40212 Duesseldorf, Germany.
Notes to editors:
Founded in London and Jersey in 2009, Therium is one of the most established global litigation financing firms, with a market-leading track record of generating superior returns for its investors. In April 2015, Therium secured $300 million to invest in commercial litigation financing, the largest ever single investment in the litigation funding sector, globally. In April 2016, Therium became the first European litigation finance company to launch a full service business in North America, Therium Inc., which is headquartered in New York. In June 2016, Therium was the first company to launch a litigation funding business in Scandinavia with the establishment of Therium Nordic AS in Oslo.
Therium has consistently been at the forefront of innovation in litigation finance, pioneering the combined use of insurance tools alongside funding vehicles, and introducing portfolio funding products into the UK. The firm’s ability to develop innovative funding arrangements complements its rigorous approach to and experience of funding a wide range of commercial disputes in varying jurisdictions. www.therium.com