This case involved a whitewash report which it was said was negligently prepared by accountants, resulting in the approval of a transaction which caused the company to become insolvent shortly afterwards.
The case was pursued using litigation finance by the liquidator of the company who otherwise lacked the resources to pursue the claim.
With the benefit of litigation finance to take the case to a conclusion, the liquidator was able to commence the claim and achieve an early settlement and recoveries to the creditors.
Professional Negligence / Insolvency
Retail
Africa, Middle East, Canada, Caribbean, Latin America
+44 (0) 203 327 3464
neil.purslow@therium.com
You may unsubscribe at any time. View our privacy policy
This case involved a dispute over the earn-out provisions in a corporate transaction between a founder and a large private equity firm.
The claimant had assets but lacked sufficient liquidity to fund the claim to a conclusion. With the benefit of litigation finance, the claimant was able successfully to secure a settlement.
Therium’s funding levelled the playing field against a well-resourced defendant who would otherwise have been in a position to exhaust the claimant’s resources.
Breach of Contract
Retail
Africa, Middle East, Canada, Caribbean, Latin America
+44 (0) 203 327 3464
neil.purslow@therium.com
You may unsubscribe at any time. View our privacy policy
Therium is funding a class action brought before the Federal Court of Canada for damages arising from Amazon’s anti-competitive agreements with third-party sellers on the Amazon platform, which restricted those sellers from selling products on other e-commerce sites for prices lower than the prices charged on Amazon. This is alleged to have had the effect of raising prices on other e-commerce platforms and maintaining artificially high prices on the Amazon platform.
Though this claim is being brought on a standalone basis in Canada, it takes place in the context of ongoing investigations by the European Commission and other regulators into Amazon’s conduct more generally and Amazon’s practices having already been found to be anti-competitive by the German Federal Cartel Office. The funding arrangements have been approved by the Canadian Federal Court.
The claim is the highest value anti-trust class action in Canada.
The case is an example of heavy competition litigation to which Therium is able to commit significant resources, making the case one of the largest funded claims in Canadian legal history.
Consumer Class Action / Anti-trust / Competition / Collective Redress
Technology / Retail
Africa, Middle East, Canada, Caribbean, Latin America
+44 (0) 203 327 3464
neil.purslow@therium.com
You may unsubscribe at any time. View our privacy policy
Therium is funding a class action on behalf of a large group of employees and former employees against Dominos Pizza Enterprises Limited (Dominos). The case alleges that Dominos, as the head franchisor, made alleged systemic false or misleading representations to its franchisee network in relation to wage rates and conditions applicable to employees of the franchisees from in or around 2010, which resulted in widespread underpayment of franchisee staff, predominantly pizza delivery drivers, from that time until 2018.
The Dominos Pizza lawsuit is one of the largest class actions brought to date on behalf of an employee group in Australia and has gained significant media attention.
Without Therium funding the Dominos class action, Dominos employees numbering in the thousands, would be unlikely to have been able to seek compensation for their alleged underpayment.
Class Action / Employment / Collective Redress / Labour
Food & Beverage / Retail
You may unsubscribe at any time. View our privacy policy
At the end of 2017, one of the biggest accounting scandals came to light within Steinhoff group, a global retailer with headquarters in South Africa and the Netherlands and a listing on the German Frankfurt Stock Exchange. In the wake of the scandal, the company had to engage in a large-scale restructuring exercise.
The claim involved litigation in three different jurisdictions, including, as part of such multi-jurisdictional approach, one of the biggest class actions in South Africa. Investors’ claims were ultimately settled in 2021 as part of the restructuring.
Therium had provided litigation funding on a global basis with its partner firm DRRT, enabling coordinated actions in South Africa, the Netherlands and Germany, with the view to effectively securing redress for investor losses.
Securities Claim/ Shareholder Dispute / Group Litigation / Collective Redress / Investor Loss
Retail
Africa, Europe, Germany
+49 (0)211 2600 6550
christoph.kuzaj@therium.com
You may unsubscribe at any time. View our privacy policy
Therium is financing equal pay claims for supermarket workers for breach of ‘equality’ term implied into employment contracts via the Equality Act 2010. The claimants who are mostly female, are claiming for pay equal with their male counterparts.
The claim against this supermarket is one of a handful of claims against UK supermarkets for unfair treatment of female employees, having received lower pay despite their work being of equal value to that of male colleagues. The claim against Asda, the most advanced of the claims against UK supermarkets, won a Supreme Court ruling in Q1 2021 determining that lower-paid shop staff (who are mostly women) can compare themselves with higher paid warehouse workers (who are mostly men). The claim seeks to compensate over 10,000 employees that have been underpaid but also helps disincentivise UK employers from breaching the Equality Act 2010.
Therium is providing finance via a law firm funding arrangement.
Employment / Equal Pay / Breach of Contract / Class Action / Group Litigation / Law Firm Funding / Collective Redress
Food & Beverage / Retail
You may unsubscribe at any time. View our privacy policy
The Interchange litigation involves claims by merchants – typically retailers, hotel groups and others – against Mastercard and Visa for damages arising out of interchange fees charged by the card schemes contrary to UK and European competition law.
The UK claims involve hundreds of businesses, including leading retail groups, with claims amounting to billions of pounds. The litigation is a notable example of group litigation being run in the Competition Appeal Tribunal where claims are being managed together but without a Collective Proceedings Order.
Therium is backing a wide cross-section of claimants including well-resourced corporate clients who benefit by using litigation finance in place of their own resources in order to pursue the claim.
Group Litigation / Class Action / Collective redress / Anti-Trust / Competition
Financial Services / Retail
You may unsubscribe at any time. View our privacy policy
Therium funded the historic legal battle over a faulty computer system called Horizon. Claims were brought by 550 sub-postmasters for loss and damages suffered as a result of shortages in their accounts, which were either wrongly generated or were unable to be understood, addressed and corrected or properly investigated. The case ultimately settled after a hard-fought battle including two trials and two failed attempts to appeal and one failed application to have the judge recuse himself by the Post Office.
The Post Office scandal was one of the UK’s most widespread miscarriages of justice with over 700 sub-postmasters prosecuted. As a result of the civil proceedings, the sub-postmasters were able to overturn criminal convictions that had been wrongly obtained and they secured a public inquiry and ultimately compensation from the government for all affected sub-postmasters.
This is a notable example of litigation funding providing access to justice for victims who lack the resources to seek redress from a government-backed company which deploys its extensive resources in an attempt to defeat the claims made against it.
Group Litigation / Class Action / Commercial Dispute
Retail / Technology
Africa, Middle East, Canada, Caribbean, Latin America
+44 (0) 203 327 3464
neil.purslow@therium.com
You may unsubscribe at any time. View our privacy policy
