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Multibillion Pound Claim Filed Against Sony Group

By John Freund |

A claim against Sony Group was filed on 19 August 2022 in the UK’s Competition Appeal Tribunal (CAT). The claim is being brought on behalf of UK-based PlayStation users who have purchased digital games and/or add-on content from the PlayStation Store since 19 August 2016. The claim is being funded by Woodsford, the UK’s leading ESG, access to justice and litigation finance business.

It’s alleged that Sony is breaching UK and EU competition law by abusing its dominant position resulting in consumers paying inflated prices for digital PlayStation games and add-on content.

This standalone collective action is brought on behalf of an estimated 9 million potential class members. An application has been made to the CAT for a Collective Proceedings Order which if ordered will result in a single class representative representing all potential class members on an opt-out basis.

The proposed class representative is consumer champion Alex Neill, Chief Executive of Resolver.co.uk. Alex’s team, funded by Woodsford, includes the law firm Milberg London LLP, economics experts at Berkeley Research Group LLC and barristers from Monckton Chambers.

Woodsford’s Chief Executive Officer, Steven Friel, commented: “Woodsford’s ESG team is dedicated to holding big business to account when corporate wrongdoing causes loss to consumers and other stakeholders. We are proud to support Alex Neill’s case, helping deliver access to justice for millions of gamers. Our significant financial and professional resource is already backing UK class actions against train companies accused of overcharging, and shippers whose cartel behaviour is alleged to have inflated the price of cars. With the launch of this claim against Sony, and with more landmark cases being worked up, Woodsford is now clearly established as the most successful ESG and litigation finance business in this area of UK collective redress.”

Further information on the claim and updates on its progress can be found at www.playstationyouoweus.com.

About Woodsford

Founded in 2010 and with a presence in London, New York, Brisbane, Philadelphia and Minneapolis, Woodsford is a leading ESG, access to justice and litigation finance business.

Whether it is helping consumers achieve collective redress, ensuring that investors and universities are properly compensated when Big Tech infringes intellectual property rights, or helping shareholders in collaborative, escalated engagement up to and including litigation with listed companies, Woodsford is committed to ensuring the highest ESG standards while providing access to justice.

Working globally with many of the world’s leading law firms, our legal experience, investment, business and technical expertise, in tandem with our significant financial muscle, makes us a powerful partner and a formidable adversary.

Woodsford is a founder member of both the International Legal Finance Association (ILFA) and the Association of Litigation Funders of England & Wales (ALF), and a member of the International Corporate Governance Network.

Woodsford continues to grow, and we welcome approaches from experienced litigation lawyers and other professionals who are interested in joining our team.

For more information visit www.woodsford.com

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iLA Law Firm Expands Services to Include Litigation Funding Agreements

By Harry Moran |

As the relationship between litigation funders and law firms continues to grow intertwined, we are not only seeing funders getting more involved in the ownership of law firms, but also specialist law firms looking to provide their own niche litigation funding services.

An article in Legal Futures covers the expansion of iLA into the business of litigation funding agreements, with the Poole-based law firm providing this new service offering to a range of clients from individuals to SMEs. iLA’s co-founder and chief finance officer, Luke Baldwin, explained that one aspect of the law firm’s litigation funding service includes work on matrimonial cases, providing funding of between £25,000 to £75,000 to individual clients. Other examples include funding for disputes brought by SMEs over ‘undisclosed commissions on energy contracts’, or individuals with claims relating to car finance agreements.

iLA was founded in March 2022 by Mr Baldwin and Anastasia Ttofis, with both co-founders having previously worked together on their Bournemouth-based brokerage business, Niche Specialist Finance. Since its launch, iLA has grown from servicing 13 clients in its first month to providing independent legal advice to between 600 and 700 clients. iLA’s growth has been bolstered by a series of partnerships with other solicitors, brokers and lenders, including a partnership with the specialist mortgage lender, Keystone Property Finance.

ALFA Welcomes Mackay Chapman as Newest Associate Member

By Harry Moran |

In a post on LinkedIn, The Association of Litigation Funders of Australia (ALFA) announced that it is welcoming Mackay Chapman as its newest Associate Member. Mackay Chapman becomes the 12th Associate Member of ALFA, following the inclusion of Litica in April of this year.

Mackay Chapman is a boutique legal and advisory firm, specialising in high-stakes regulatory, financial services and insolvency disputes. The Melbourne-based law firm was founded in 2016 by Dan Mackay and Michael Chapman, who bring 25 years of experience in complex disputes to the business.More information about Mackay Chapman can be found on its website.

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Deminor Announces Settlement in Danish OW Bunker Case

By Harry Moran |

An announcement from Deminor Litigation Funding revealed that a settlement has been reached in the OW Bunker action in Demark, which Deminor funded litigation brought by a group of 20 institutional investors against the investment banks Carnegie and Morgan Stanley.

This is part of a wider group of actions originating from OW Bunker’s 2014 bankruptcy, which led to significant financial losses for both company creditors and shareholders who had invested in the company. These other cases were brought against several defendants, including OW Bunker and its former management and Board of Directors, Altor Fund II, and the aforementioned investment banks.

The settlement provides compensation for plaintiffs across the four legal actions, with a total value of approximately 645 million DKK, including legal costs. The settlement agreement requires the parties to ‘waive any further claims against each other relating to OW Bunker’. Deminor’s announcement makes clear that ‘none of the defendants have acknowledged any legal responsibility in the group of linked cases in connection with the settlement.’

Charles Demoulin, Chief Investment Officer of Deminor, said that “the settlement makes it possible for our clients to benefit from a reasonable compensation for their losses”, and that they were advising the client “to accept this solution which represents a better alternative to continuing the litigation with the resulting uncertainties.” Joeri Klein, General Counsel Netherlands and Co-head Investment Recovery of Deminor, said that the settlement had demonstrated that “in Denmark it has now proven to be possible to find a balanced solution to redress investor related claims.”