Litigation funding (also known as third party litigation funding) is a financing arrangement in which a funder agrees to provide capital in exchange for a return on that capital where the financing either is to be used to fund the prosecution or defense of a litigation; or is collateralized by the funder’s interest in a single litigation or a portfolio of multiple litigations. Funders typically receive no money 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 inquiry 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. 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 retained 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 a minimum of US $1 million, 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).
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, which provides the company with a stable capital platform for its funding activities. Our investors 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.