First initiative of its kind dedicated to facilitating access to justice in the litigation funding industry
Lord Falconer, former Lord Chancellor, Secretary of State for Constitutional Affairs and Secretary of State for Justice will chair the Advisory Committee
The launch of Therium Access coincides with Therium’s 10 year anniversary
Therium Group Holdings Limited, one of the world’s leading providers of litigation, arbitration and specialty legal finance, today announced the launch of Therium Access, which will provide not-for-profit litigation funding in order to facilitate access to justice.
Therium Access is the first-of-its-kind initiative in the litigation funding industry. Grants awarded by Therium Access are intended to provide access to justice to those who lack the funds necessary to pursue or defend claims, as well as to projects that seek to improve access to justice.
Therium Access is the primary expression of Therium’s corporate and social responsibility programme. Therium Access dispenses with the criteria of funding for profit and has the sole purpose of facilitating access to justice by funding cases and projects which could not usually be funded on a commercial basis. Therium Access is a mark of Therium’s wider commitment to the pursuit of justice and the rule of law, and its launch coincides with the firm’s 10th anniversary.
John Byrne, Co-Founder and CEO of Therium Capital Management Limited, said: “We are delighted to announce the launch of Therium Access, which is dedicated to improving access to justice by providing not-for -profit litigation funding for cases and projects of public interest. Therium is ten years old this year and the making of the first Therium Access grants in April will be a fantastic way to mark the firm’s 10th anniversary.”
Lord Falconer, Chairman of Therium Access Advisory Committee said: “I am delighted to chair this important initiative, which is a first for the litigation funding industry and will hopefully lead the way for further initiatives. The choking of legal support that we have witnessed in this country as a result of unprecedented cuts to legal aid has had drastic consequences on the vulnerable who are being denied access to justice, and on those individuals and organisations who work tirelessly to support them. The not-for-profit funding that Therium Access will provide through grants for cases and projects is urgently required to make some contribution towards restoring the right to legal support, which is the bedrock of our justice system.”
The first grants will be announced in April. The deadline for the submission of the next round of grant applications is 30 August 2019. Applications need to be made by legal representatives or the entity seeking a grant. The board of Therium Access will be assisted by an Advisory Committee which will be chaired by Lord Falconer, former Lord Chancellor, Secretary of State for Constitutional Affairs and Secretary of State for Justice. Further appointments to the advisory committee will be announced in due course.
Therium Access aims to support access to justice in the broadest terms and considers applications that further the following causes (in no particular order):
- The right to legal representation or due process;
- The proper and efficient administration of justice;
- The advancement of human rights;
- The promotion of equality of rights and diversity;
- The protection of children, the elderly, the disabled, minorities, asylum seekers and other vulnerable or disadvantaged groups;
- The advancement of environmental protection or improvement;
- The promotion of legal education that furthers the causes listed above; and
- Any other case or project in which a person, group, or entity will not have access to justice without financial assistance.
Therium Access is intended to be a global initiative, its initial focus will be on the UK and it will be rolled out in other jurisdictions in a number of planned phases.
Therium is a leading global provider of litigation and arbitration and specialty legal finance, active in England and Wales since 2009. Over that period, Therium has funded claims with a total value exceeding £34 billion, including many of the largest and most high profile funded cases in the UK. With investment teams in the UK, USA, Australia, Spain and Norway, Therium has established a track record of success in litigation finance in all forms, including single case litigation and arbitration funding, funding law firms and portfolios of litigation and arbitration claims. Therium is also a founding member of the Association of Litigation Funders of England and Wales.
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. Therium’s ability to develop innovative funding arrangements and bespoke financial solutions for litigants and law firms complements its unmatched experience and rigorous approach to funding a wide range of commercial disputes throughout the world.
In Chambers and Partners’ inaugural litigation support directory 2018, Therium was ranked as a Tier 1 litigation funder, and Neil Purslow, the firm’s Chief Investment Officer, was named a leading individual in the litigation funding industry.
In February this year, Therium Capital Management was top ranked as one of the two “Leading” litigation and arbitration funding firms in the UK by legal and business directory Leaders League, in their 2019 ranking of litigation funding. Therium was also ranked as “Excellent” in the 2019 US ranking.
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