Topics: Portfolio Facility

The Case

Therium provided a multi-million-dollar portfolio facility secured by an accomplished litigation firm’s extensive roster of employee misclassification cases. The targets of the suits were massively successful household names at the forefront of the “gig economy,” whose outsized revenues created a significant power imbalance against individual workers seeking to enforce basic employment rights. The law firm utilized Therium’s funding both to retain new clients and to fund litigation against the offending employers. This investment highlights how Therium’s capital can be strategically deployed to facilitate redress for many thousands of wronged individuals and to balance the scales when going up against litigation adversaries with immense financial resources.

Why It’s Significant

This case is significant because Therium provided seed capital to a new law firm that utilized a novel legal approach to generate significant recoveries for those who suffered serious economic harm.

Therium’s Solution

Therium’s solution was to work with the lawyers, marketing team, and other stakeholders to ensure the successful execution of a legal approach which (although substantively sound) had not yet been tested in the courts.

Specialism

Portfolio Facility / Breach of Contract / Employment Labour / Law Firm Funding

Sector:

Legal

Meet The TeamThe Team

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Investment Manager

Corey Banks

USA
+1 (212) 951 0774
corey.banks@therium.com

Investment Manager

Henrik Berg

Europe, The Nordics
+47 91 361 515
henrik.berg@therium.com

Investment Manager

Fred Bowman

UK
+44 (0)20 3404 3529
fred.bowman@therium.com

Chief Executive Officer

John Byrne

UK
+44 (0)20 8017 5304
john.byrne@therium.com

Investment Manager

Joshua Card

USA
+1 (212) 951 0886
joshua.card@therium.com

Director

Robert Clifford

Jersey
+44 (0) 1534 872 747
robert.clifford@therium.com

Asset Management Team Finance Assistant

Jordan Cooke

UK
+44 (0)208 017 5309
jordan.cooke@therium.com

Country Head

Simon Dluzniak

Asia Pacific
+61 (0)419 584 285
simon.dluzniak@therium.com

Director

Robert Dwyer

USA
+1 (212) 951 0570
robert.dwyer@therium.com

Head of Jersey Operations

Christina Gates

Jersey
+44 (0)1534 872747
christina.gates@therium.com

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Case Studies

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Accountants’ Professional Negligence

Contractual Earn-out Dispute

Danske Bank A/S

Lloyd vs. Google

Amazon Anti-trust Class Action

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The Case

Therium provided funding to a preeminent litigation boutique specializing in complex commercial matters and class action litigation. The firm had multiple highly promising contingency matters conservatively worth over $40 million in fees – extremely valuable assets, but not the type that a traditional bank is equipped to loan against. The firm sought capital from Therium to cover year-end attorney compensation commitments and to provide additional investments in ongoing cases while waiting for pending contingency matters to resolve. The resulting portfolio financing was secured by a pool of litigation matters that ultimately resolved for more than $1 billion, collectively.

Why It’s Significant

Therium’s Solution

Offering a low-cost financial package in a matter of weeks, enabling the law firm to satisfy the economic demands that its constituents had placed upon it.

Specialism

Law Firm Funding / Portfolio Funding

Sector:

Legal

Meet The TeamThe Team

Morbi interdum mollis sapien. Sed ac risus. Phasellus lacinia, magna a ullamcorper laoreet, lectus arcu pulvinar risus, vitae facilisis libero dolor a purus. Sed vel lacus.

Investment Manager

Corey Banks

USA
+1 (212) 951 0774
corey.banks@therium.com

Investment Manager

Henrik Berg

Europe, The Nordics
+47 91 361 515
henrik.berg@therium.com

Investment Manager

Fred Bowman

UK
+44 (0)20 3404 3529
fred.bowman@therium.com

Chief Executive Officer

John Byrne

UK
+44 (0)20 8017 5304
john.byrne@therium.com

Investment Manager

Joshua Card

USA
+1 (212) 951 0886
joshua.card@therium.com

Director

Robert Clifford

Jersey
+44 (0) 1534 872 747
robert.clifford@therium.com

Asset Management Team Finance Assistant

Jordan Cooke

UK
+44 (0)208 017 5309
jordan.cooke@therium.com

Country Head

Simon Dluzniak

Asia Pacific
+61 (0)419 584 285
simon.dluzniak@therium.com

Director

Robert Dwyer

USA
+1 (212) 951 0570
robert.dwyer@therium.com

Head of Jersey Operations

Christina Gates

Jersey
+44 (0)1534 872747
christina.gates@therium.com

View All The Team

Case Studies

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Morbi interdum mollis sapien. Sed ac risus. Phasellus lacinia, magna a ullamcorper laoreet, lectus arcu pulvinar risus, vitae facilisis libero dolor a purus. Sed vel lacus.

Accountants’ Professional Negligence

Contractual Earn-out Dispute

Danske Bank A/S

Lloyd vs. Google

Amazon Anti-trust Class Action

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Automotive Legal Class Action Collective Redress Consumer Class Action Emissions Portfolio Facility

Emissions Claims

The Case

The claims are brought on behalf of car owners and lessees, alleging that a number of leading vehicle manufacturers fitted ‘defeat’ devices to their vehicles to circumvent EU and UK emissions regulations designed to protect the environment.

Why It’s Significant

As with the Volkswagen claims which were brought on behalf of 91,000 customers, many hundreds of thousands, or even millions, of car owners and lessees are affected.

Therium’s Solution

Therium is financing diesel emission claims against a number of vehicle manufacturers including Mercedes, Vauxhall, Jaguar Land Rover and others.

Specialism

Consumer Class Action / Collective Redress / Law Firm Portfolio / Emissions

Sector

Legal / Automotive

Meet The TeamThe Team

Chief Investment Officer

Neil Purslow

Africa, Middle East, Canada, Caribbean, Latin America
+44 (0) 203 327 3464
neil.purslow@therium.com

Investment Manager

Ben Smyth

UK
+44 (0)20 3327 3469
ben.smyth@therium.com

View All The Team

Case Studies

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Accountants’ Professional Negligence

Contractual Earn-out Dispute

Danske Bank A/S

Lloyd vs. Google

Amazon Anti-trust Class Action

View All

The Case

Therium is funding a £50m portfolio facility with Liverpool-based litigation boutique Provenio Litigation LLP. Provenio was launched in 2019 by a team of senior litigation lawyers from DLA Piper in order to advise exclusively on high-value, national and international commercial disputes. The portfolio arrangement allows Provenio to offer its clients creative fee structures, including fully contingent fee arrangements.

Why It’s Significant

Provenio has used the portfolio for a range of claims, including business interruption insurance claims on behalf of clients whose trading has been affected by the COVID-19 pandemic.

Therium’s Solution

The portfolio facility demonstrates Therium’s ability to deploy capital in innovative ways and its continuing support for the new wave of entrepreneurial, boutique law firms that are helping claimants secure access to justice across the UK and beyond.