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News:

11.12.2018 / Global Insolvency

The post Stephen Akers’ appointment features in Global Insolvency. appeared first on Therium UK.

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26.11.2018 / New Law Journal

The post Stephen Akers’ appointment features in New Law Journal. appeared first on Therium UK.

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22.11.2018 / Economa

The post Stephen Akers’ appointment features in Economa. appeared first on Therium UK.

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21.11.2018 / Bloomberg

The post Stephen Akers appointment features in Bloomberg. appeared first on Therium UK.

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21.11.2018 / Scandinavia Business

The post Stephen Akers appointment features in Scandinavia Business. appeared first on Therium UK.

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21.11.2018 / Global banking and finance

The post Stephen Akers’ appointment features in Global Banking Finance. appeared first on Therium UK.

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20.11.2018 / Litigation finance journal

The post Stephen Akers’ appointment features in Litigation Finance Journal. appeared first on Therium UK.

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20.11.2018

London, 20 November, 2018 – Therium Group Holdings Ltd., a leading provider of litigation finance globally with over $800 million of assets under management, has appointed Stephen Akers to lead its insolvency funding practice, based in London.

Stephen is one of the world’s leading insolvency practitioners, with a career stretching more than three decades, in which he has worked on some of the most complex, multi-jurisdictional insolvency cases involving substantial litigation. He has considerable experience of litigating in not just the UK but also in New York, Paris, Cayman Islands, BVI, Bermuda, Jersey and Guernsey, involving cases that have successfully recovered or defended many billions of dollars.

Stephen joins Therium from Grant Thornton where he was a partner for 16 years, following 15 years as a partner at Deloitte.

Neil Purslow, Co-Founder and Chief Investment Officer of Therium, said: “Stephen is one of the world’s preeminent insolvency professionals and we are delighted that he has joined Therium to lead our global insolvency litigation funding practice, which is a strong area of focus for the firm. He has tremendous global experience, having worked on some of the most high profile, multi-jurisdiction insolvency matters. We look forward to him leading our growing insolvency litigation funding practice, where we see huge opportunity.”

Stephen’s high profile insolvency cases include:

  • Saad Group of Companies. Liquidator regarding the winding up of mainly Cayman Islands companies within the Saudi Saad Group that in 2009 defaulted on a $2.8bn revolving credit facility advance by a syndicate of banks led by Barclays. After seven years, including a lengthy trial in Cayman, interlocutory applications, and a huge investigatory and forensic analysis, the liquidation group convinced the Cayman Court that the companies’ owners and controllers had carried out the world’s largest Ponzi scheme, with loans of $330bn being churned over nearly three decades, impacting over 100 banks.
  • Bank of Credit and Commerce International SA. Liquidation of BCCI, once the world’s seventh largest bank, which failed in 1991. The bank was riddled with fraud and money laundering and was closed following coordinated action by the UK, US and Luxembourg regulators. It was the largest bank failure of its time, involving $10bn of liabilities worldwide. Stephen was a liquidator of the UK business, which represented the largest part of the group balance sheet.
  • Madoff Securities Limited. UK liquidation of the only Madoff entity outside of the US, used to wash funds through London as part of the $68bn Ponzi
  • Kaupthing Bank hf. Roles for Icelandic bank Kaupthing’s Winding-Up Committee, including matters involving Vincent Tchinguiz’s and Robert Tchenguiz’s family trusts, and liquidations of BVI companies involved with credit default swaps with Deutsche Bank.

Therium is one of world’s leading litigation financing firms. The firm has funded claims valued at $36 billion and has operations across Europe, including in the UK, Germany, Italy, Spain and Scandinavia, and in the US. Therium was the first commercial litigation funder to be have operations on the ground in Germany and Scandinavia and it was the first European firm to launch a full service business in the US. In October, Therium announced that it plans to launch operations in Australia in January 2019.

In Chambers and Partners’ inaugural litigation support directory this year, Therium was ranked as a Tier 1 litigation funder.

Litigation funding allows individuals and companies to take on litigation and arbitration cases that they might not otherwise be able to afford, to hedge the costs and risks involved in such matters and to monetise the value of claims.

ENDS

About Therium

Founded in 2009, Therium is a leading global litigation financing firm with a market-leading track record of generating superior returns for its investors. The firm works across all forms of commercial litigation and arbitration and invests in a broad range of complex commercial disputes, from securities and shareholder actions, international arbitration, competition and antitrust cases, through to intellectual property, insolvency and class actions. In February 2018, Therium announced its latest fund of £200m, which the company is now actively deploying, and Therium has now raised nearly $800 million since its foundation. To date, the firm globally has funded claims valued at $36 billion. 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.

The firm’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 in varying jurisdictions throughout the world. In Chambers and Partners’ inaugural litigation support directory this year, Therium was ranked as a Tier 1 litigation funder. Therium is a founder member of the Association of Litigation Funders.

www.therium.com

Media enquiries

Desiree Maghoo
Questor Consulting
+44 (0)7775 522740
dmaghoo@questorconsulting.com

Simon Barker
Questor Consulting
+44 (0)7866 314331
sbarker@questorconsulting.com

The post Therium appoints Stephen Akers to lead its global insolvency practice appeared first on Therium UK.

07.11.2018

 

We are delighted to announce that Therium has won the “Insolvency Litigation Funder of the Year Award” at this year’s “Turnaround, Restructuring and Insolvency” awards in London. The award was made in recognition of Therium’s innovative approach to litigation funding, the geographical diversity of cases funded and client satisfaction.

The Judges said: “In a strong field, judges were impressed by the significant scale and range of this global business. Therium set itself apart by a series of powerful and persuasive testimonials, demonstrating a commitment to their clients and the wider industry.”

The post Therium Capital Management wins “Insolvency Litigation Funder of the Year Award” at this year’s “Turnaround, Restructuring and Insolvency” awards. appeared first on Therium UK.

01.11.2018 / Litigation Funding

Jeunesse Mensier on security for costs in funded investment arbitration.

The post Jeunesse Mensier on security for costs in funded investment arbitration. appeared first on Therium UK.

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15.10.2018

Melbourne/ London, Monday 15 October 2018. Therium Capital Management, a leading provider of litigation finance globally with over $800 million of assets under management, announced today that it is planning to launch a full service offering in Australia on 1 January 2019. Therium Australia will be based in Melbourne. Founded in 2009, Therium Capital Management is one of the largest and most established litigation financing firms in the world. The firm has funded claims valued at $36 billion.

Therium’s full service operations in Australia will be headed by Simon Dluzniak, an experienced litigation funding professional, who has worked in the industry in both Australia and the UK since the early 2000’s.

Within Australia, Therium will finance class actions and general commercial, insolvency and arbitration claims. Therium Australia will also seek to develop the country’s emerging corporate funding and portfolio funding markets. Outside of Australia, Therium Australia will look to fund arbitration claims in Hong Kong and Singapore, both of which are emerging markets for litigation finance.

Therium has funded claims in Australia since 2011 and is currently funding high profile shareholder class actions against financial services firms AMP Ltd and Commonwealth Bank of Australia Ltd, as well as delivery management software company GetSwift Ltd.

Neil Purslow, Co-Founder and Chief Investment Officer of Therium, will be speaking about litigation funding at a Herbert Smith Freehills class action panel in Melbourne on 17 October. He said: “We know the Australian litigation funding market well as we have been active in the country for several years. We are seeing a healthy demand for our services across a range of litigation areas and industries in Australia, so it is the natural moment for us to open an office in the country.

“The market in Australia for litigation funding of class actions, general commercial cases and insolvency matters is both well-established and currently very buoyant. There is also a very substantial opportunity for Australian corporates to use funding as a form of off balance sheet finance, and for us to also provide portfolio funding to them – and the law firms that act for them. Both of these are established funding practices in the UK and the USA.”

Therium has operations across Europe, including in the UK, Germany, Italy, Spain and Scandinavia, and in the USA. Therium was the first commercial litigation funder to be have operations on the ground in Germany and Scandinavia and it was the first European firm to launch a full service business in the USA.

Litigation funding allows individuals and companies to take on litigation and arbitration cases that they might not otherwise be able to afford, and/or to hedge the costs and risks involved in such matters. Therium pays for all of the costs, including adverse costs in the event that the case is lost, and only receives payment if the case is won.

15.10.2018 / Australasia Lawyer

Therium’s plans to launch a full service litigation funding operation in Australia in January 2019 features in Australasia Lawyer.

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15.10.2018 / Litigation Finance Journal

Therium’s plans to launch a full service litigation funding operation in Australia in January 2019 features in Litigation Finance Journal.

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06.10.2018

Therium has been shortlisted in the Insolvency Litigation Funder of the Year category of the TRI Awards, which take place in London on 6 November.

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23.08.2018 / CDR

Elizabeth Korchin appointment features in CDR

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07.08.2018 / Law360

Elizabeth Korchin appointment features in Law360.

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06.08.2018 / Therium

Therium adds to investment team in New York with the appointment of Elizabeth Korchin.

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02.07.2018 / Litigation Finance Journal

Phi Finney McDonald has filed the Therium funded Commonwealth Bank Australia shareholder class action.

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25.06.2018 / Litigation Funding

Tim Mayer’s article in Litigation Funding analyses the International Council for Commercial Arbitration (ICCA) – Queen Mary Task Force’s report on Third-Party Funding in International Arbitration published in April.

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14.06.2018 / Litigation Finance Journal

How Therium and law firm Phi Finney McDonald won the right to lead the GetSwift class action claim in Australia is reported in the Litigation Finance Journal.

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14.06.2018 / Litigation Finance Journal

Tim Mayer’s podcast in Litigation Finance Journal.

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11.06.2018 / Law Society Gazette

A look at law firms moving into funding.

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Events:

08.09.2017

Oslo : Therium er blant de ledende litigation funders internasjonalt. Vi har gleden av å invitere til frokostseminar med senior investment officer Nick Moore fra vårt hovedkontor i London.

14.11.2016

New York : Neil Purslow is speaking at Serle Court’s International Trusts and Commercial Litigation Conference in New York.

18.09.2016

Washington DC : John Byrne, Neil Purslow, Eric Blinderman and Patrick Dempsey are attending the IBA annual conference in Washington.

06.09.2016

Oslo : Therium arrangerer et frokostseminar om søksmålsfinansiering i det skandinaviske markedet.

01.07.2016

Barcelona : Neil Purslow gave a talk about funding financial market disputes at the Banking Litigation Network Conference.

19.05.2016

Polonia Palace Hotel, Warsaw : John Byrne spoke at CEE Consulting Group’s Introduction to Third Party Litigation Funding conference.

18.05.2016

Freshfields, London : Tim Mayer was a panellist at the 6th Annual GAR Live London event. The debate, “Getting the client paid”, explored both the legal and practical aspects of enforcement and other means of monetising awards.

12.05.2016

JLT, London : Neil Purslow and Hanif Virji spoke at JLT’s Commercial Litigation Conference. Hanif gave a talk entitled: “Building and funding group actions involving financial markets disputes.” Neil was a panellist for a discussion about trends in third party funding.

20.04.2016

London : Neil Purslow spoke about “The Rise of Litigation Funding in the UK” at AIG’s Corporate Governance Event 2016

03.12.2015

London : Neil Purslow spoke at the International Bar Association’s “Third Party Funding and International Arbitration Conference”

24.11.2015

London : Neil Purslow spoke at the C5 Financial Institutions Regulatory Disputes and Investigations conference on “Litigation strategies at the time of increased regulatory scrutiny” and led a masterclass on “De-risked strategies for recovering losses from defective and inappropriate financial products”.