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Member Spotlight: Louisa Klouda

By John Freund |

Louisa Klouda is the founder and CEO of Fenchurch Legal. She set up the business in early 2020, after identifying a gap for additional small-ticket litigation funders in the UK market.

Louisa is responsible for day-to-day operations, strategic direction and capital raising. Louisa’s expertise in sourcing, underwriting and managing borrowers, as well as attracting investor capital has been instrumental in Fenchurch Legal’s growth.

 

Prior to setting up Fenchurch Legal, Louisa worked within corporate finance, specializing in the asset backed lending industry. She managed the broking and dealing desk for secured debt securities, structured various investment products and facilitated some large M&A transactions.

About Fenchurch Legal: Fenchurch Legal is a UK-based litigation financier, specialising in providing disbursement funding to small to medium-sized law firms in the UK. The financing funds small ticket ATE (“After the Event”) cases and covers associated disbursements, all backed by ATE insurance policies.

Their focus on smaller claims, often overlooked in traditional funding, ensures that even modest claims, like housing disrepair claims receive the backing necessary to navigate the legal process, ultimately facilitating access to justice and contributing to a more balanced and inclusive legal landscape.

Understanding law firm needs, Fenchurch Legal delivers solutions to remove pain points and has developed an offering to avoid problems such as complex drawdown procedures, undisclosed fees, and non-funding of crucial costs like WIP capital.

In addition to collaborating with borrowers, we extend the opportunity to investors to invest in this unique market. Fenchurch Legal sets itself apart with a focus on smaller-ticket claims, flexible entry points, and robust security features, making it an accessible and attractive choice for those seeking alternative investment opportunities.

The company continues to innovate and has recently developed its own loan management software, providing a bespoke platform for managing loan repayments, monitoring, reporting and onboarding –  significantly enhancing the whole business operations, driving efficiency and enabling the business to scale.

Company Website: https://www.fenchurch-legal.co.uk/

Year Founded:  2020

Headquarters:  London

Area of FocusFenchurch Legal is solely focused on funding smaller cases with an established legal precedent at high volumes. These protocol-driven consumer claims (housing disrepair, Plevin, PCP, financial mis-selling) offer a high potential for success.

Member Quote: “The funding market is increasingly recognising the importance of smaller claims. Small ticket litigation funding plays a vital role in the UK legal landscape, offering an alternative approach to financing legal claims. Small-ticket funders like Fenchurch Legal focus on quantity, funding a high volume of smaller cases.

Our core strength lies in our deep understanding of the small-ticket claims landscape. We have developed a rigorous and data-driven vetting process tailored to this specific segment of litigation funding, allowing us to identify top-tier law firms and high-potential case types with lower individual risk profiles.

At Fenchurch Legal, we believe in the transformative power of small-ticket disbursement funding, and our commitment extends to both law firms and investors. Small-medium law firms can take on cases that might otherwise go unfunded whilst providing an avenue for investors looking for alternative investment opportunities within the litigation funding market.”

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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.”