Litigation funding (also known in the UK as third party litigation funding) is a form of litigation financing which involves the funder paying some or all of a party’s legal costs of pursuing a claim in return for a share of the proceeds on success. Funders typically receive no recovery if the claim fails.
We invite clients to make contact by email with the investment principals for the relevant jurisdiction and they will progress the enquiry under a confidentiality agreement. Usually we request a summary of the case or cases from the lawyers who will act, including details of the claim, the quantum of the claim and the budget for pursuing it, together with details of the defendants.
We invite approaches for litigation funding from both lawyers and clients, particularly in the case of corporate clients seeking funding for a portfolio of claims or for individual clients who form part of a potential group action. However, it can be helpful to have input from the lawyers who will be acting on the claim, and we would not approve single claims for litigation funding or arbitration funding unless lawyers are instructed at that stage.
Therium can assist in the identification and selection of lawyers and the choice of lawyers will be relevant to Therium’s decision on whether or not to fund.
Not necessarily – although Counsel’s opinion is often helpful. We would usually seek to work with the information you have as a starting point.
Once we have the initial information, we will indicate whether we are interested in progressing the case and if so will usually agree commercial terms at an early stage. We then prepare the case for submission to our Investment Committee and prepare the funding documentation. The length of time this takes depends on the complexity of the case, and how well prepared the information is, but cases can be prepared within a few weeks. The case will then be submitted to the Investment Committee who will usually make the decision to proceed at a single meeting and confirmation of funding approval will be provided on the same day.
Therium does not have a minimum case size but, on individual cases, will typically invest £15m or more with damages at least 6x to 10x the amount of the investment. Therium can provide funding above these levels if required.
Yes; we can turn cases around urgently where circumstances require.
No. Therium has no influence on the cases, and in particular, does not control settlement.
Yes. Therium’s funding has a flexible mandate allowing Therium wide discretion to invest through the mechanism that best suits the client and the case(s).
Therium will take an interest in the progress of the case.
Yes Therium can provide an indemnity for the adverse costs risk and deal with any requirement for security for costs as part of the litigation funding arrangement.
Yes. Providing these costs are included within the agreed funding budget, historic costs (whether paid by the client or unpaid at the date of funding) can be funded.
Therium has a diverse investor base providing the company with a stable capital platform for its funding activities. They include a cornerstone financial services investor and other selected global institutional investors.
Therium is active in a wide variety of jurisdictions across the world. Therium is able to fund in any jurisdiction where funding is legally permissible.
Therium does not generally fund single consumer claims in areas such as personal injury, clinical negligence or divorce.
Therium has the ability to advise funds for selected third parties although we are not generally seeking further investment at this time. For investor relations, please contact John Byrne
John co-founded Therium in 2008 and is a director of Therium Capital Management Limited and the firm’s Chief Executive Officer. John is a solicitor and was formerly a corporate partner at Nabarro Nathanson, then managing partner of the London office of Dorsey & Whitney. In the latter role, John acquired PwC’s tax litigation team and a VAT litigation team from Ernst & Young. John has previously been listed by Chambers as one of the UK’s best business lawyers. John has LLB and LLM degrees from the London School of Economics and Political Science.
+44 (0) 20 3327 3463
Therium is a founder member of the Association of Litigation Funders of England and Wales, the self-regulatory body regulating the litigation funding industry in England and Wales. Therium is supportive of the work of that organisation and complies with its Code of Conduct.