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Manolete Partners Announces New Revolving Credit Facility with HSBC Bank

By Harry Moran |

Manolete Partners Plc (AIM:MANO), the leading UK-listed insolvency litigation financing company, is pleased to announce it has signed a new Revolving Credit Facility ("RCF") with its existing provider, HSBC UK Bank Plc ( "HSBC"). 

The new RCF provides Manolete with the same level of facility as the previous arrangement, at £17.5m. However, the margin charged to Manolete by HSBC on the new RCF is at a reduced rate of 4.0% (previously 4.7%) over the Sterling Overnight Index Average (SONIA) and has a reduced non-utilisation fee, from 1.88% to 1.40%. 

The new RCF is a 3.25-year facility with an initial maturity of 27 June 2028. Manolete has the option to further extend the facility on its current terms by an additional year. 

The covenants remain unchanged except for the Asset Cover covenant which has been relaxed for the next six months. 

Steven Cooklin, CEO commented: "We are delighted to have secured a new long-term commitment to the business from HSBC, which is testament to the strong partnership we have established since 2018. The improved terms of the facility demonstrate confidence in the Manolete business." 

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). 

Commercial Regulatory Issues

Georgia Legislature Approves Amended Litigation Funding Bill

By Harry Moran |

As LFJ has reported over recent weeks, the push for new rules governing litigation funding across several U.S. states has gained traction in 2025, with Georgia now set to impose new legislation that includes several restrictions on third-party funding in the state. 

An article in the Georgia Recorder covers the news that the state’s legislature has voted to pass a bill designed to impose new restrictions and oversight on third-party litigation funding in Georgia. Senate Bill 69 was passed by a vote of 98-69 in the House of Representatives, following amendments made in the committee stage, and has since returned to the Senate where a vote on the amended bill passed with 52 Yea votes. The bill, along with Senate Bill 68 which is part of the wider tort reform legislative package, will now go to the Governor to be signed into law.

The amendments made in the House Subcommittee of Rules on Lawsuit Reform include provisions for the state’s Department of Banking and Finance to deny funders’ applications to register. Furthermore, disclosure requirements have been updated to include any stakeholder who has a 10% or greater stake in a litigation funder, as well as clarified language in the sections dealing with foreign entities involved in third-party funding.

James Burchett, the House Majority Caucus Whip, said that the bill aims to address absence of any “provisions whatsoever that outline regulations on litigation financing,”  and will seek to “put some guard rails and regulation on the industry.” Voting in opposition to the bill, Minority Caucus Chair Tanya Miller argued that the bill “attempts to solve a problem that simply doesn’t exist”, and that the bill is “part of a broader propaganda playbook designed to protect big business and the insurance industry at the expense of everyday Georgians.” 

Miller further highlighted that during the evaluation of the legislation by the House’s committees, “not a single case in Georgia was identified to justify this legislation.” 

Case Developments Commercial

Favourable Ruling for Woodsford in Standard Chartered Claim

By Harry Moran |

When shareholders suffer losses as a result of corporate governance failures by large financial institutions, investors often require the support of litigation funders in their efforts to seek justice and secure compensation from these multinational giants. 

An announcement from Woodsford revealed that a group of institutional investors bringing a group claim against Standard Chartered, with litigation funding provided by Woodsford, have received a favourable judgment in the High Court. The judgment handed down by Mr Justice Michael Green dismissed Standard Chartered’s application to strike out a portion of the group claim, which means that the claim can now proceed towards its scheduled trial in October 2026.  

The claim focuses on allegations that the bank failed in its corporate governance around its dealings with Iran and Iranian-linked institutions that were subject to US sanctions, resulting in financial losses suffered by shareholders. 

Standard Chartered applied to strike out “Common Reliance” claims of 949 of the funds that are participating in the group claims, with these funds representing 68% of the claimants funds that account for over £760 million of the claim value. Green J’s judgment examined the prior ruling on a strike out application in a similar claim, Allianz Funds Multi-Strategy Trust and ors v Barclays plc [2024], but found that he had “doubts about the correctness” of that decision. 

In his conclusion on the common reliance claims, Green J wrote: “There are factual matters that, in my view, require determination and the expert evidence might assist in understanding the extent to which the Published Information would have affected the market price and its influence therefore on the decisions made by the Claimants.”

Signature Litigation acted for the claimants, instructing Graham Chapman KC, Shail Patel KC and William Harman of 4 New Square.

The full judgment from Green J in Various Claimants v Standard Chartered can be read here.

Commercial Deals

Matthew Gwynne and Edwin Harrap Launch Litigation Capital Solutions

By Harry Moran |

As the world of legal finance continues to expand, it is no surprise that new companies are offering services that can connect the multitude of parties looking to get involved in third-party funding.

A post on LinkedIn announced the launch of Litigation Capital Solutions, a new litigation finance venture designed to connect investment opportunities from funding platforms with institutional and other investors. The company aims to work with law firms, funders and insurers via a portfolio of solutions including capital raising opportunities, due diligence services, and stakeholder alignment.

Following its launch, Litigation Capital Solutions is already engaged in capital raising projects across a range of investment opportunities, up to a total value of £130 million.

Litigation Capital Solutions was founded by Matthew Gwynne and Edwin Harrap, who bring a wealth of experience in financial services, capital raising and specialist funding. Gwynne’s career highlights include six years at Investec in private banking, over two years as Head of Credit Structuring in the UK for Standard Chartered Bank, and most recently serving as Director, Business Development and Client Relations for SpectraLegal. Harrap began his career at KPMG before moving on to Deutsche Bank where he served as Director for Emerging Markets Structured Credit Trading; and joins this new venture from Alantra where he spent six years as a Director.

More information about Litigation Capital Solutions can be found on the company’s website. 

Community Spotlights

Community Spotlight: James Koutoulas, CEO, JurisTrade & Typhon Capital Management

James Koutoulas is the CEO of JurisTrade as well its asset management affiliate, Typhon Capital Management, which is a multi-strategy hedge fund with US and Cayman private fund platforms. He is also Managing Member of Koutoulas Law, LLC, a law firm specializing in high-profile financial services litigation.

James founded Typhon in 2008 and it has since grown to 25 staff members, 15 (including many award-winning) trading strategies with operations in 4 countries and 8 cities. While running Typhon, he served as lead customer counsel in the MF Global bankruptcy, leading the recovery of all $6.7 billion in customer assets.

He has successfully litigated a multi-billion cryptocurrency fraud class action, a statistical arbitrage IP theft arbitration, a breach of contract jury trial against a billion-dollar asset management, and a capacity-rights guarantee contract dispute against a quantitative hedge fund. He is a frequent contributor to CNBC, thestreet.com, CoinDesk, and other prominent media outlets. He served on the Board and Executive Committee of the National Futures Association, the derivatives self-regulatory organization, where he helped implement the Dodd-Frank rules on the multi-trillion-dollar swaps market and has advised Congress on commodity and bankruptcy laws and regulations.

James has a JD from the Northwestern University School of Law with a securities concentration.

Company Name and Description: JurisTrade has designed a Litigation Asset Marketplace (operated by trading affiliate, Typhon Capital Management) to package and/or securitize litigation finance solutions to law firms, owners of bankruptcy, mass tort, and other litigation claims, and third-party investors looking for exposure to the asset class. JurisTrade offers a new and disruptive solution: it allows law firms, plaintiffs, and/or those with a financial interest in litigation the opportunity to sell or assign an interest in litigation outcomes to qualified investors in a much more efficient manner than is currently available.

Typhon Capital Management is a multi-strategy hedge fund specializing in tactical trading strategies designed to be uncorrelated to traditional markets under most market conditions and have strong negative correlation during periods of stress. Typhon dedicates itself to developing unique strategies that are truly differentiated and perform when almost everything else fails. Typhon uses unique, modular strategies as building blocks to design bespoke products to meet each investor’s individual needs.

Company Website: https://juristrade.com/ & https://typhoncap.com/

Year Founded: JurisTrade – 2023 & Typhon - 2008  

Headquarters:  1691 Michigan Ave Suite 200, Miami Beach, FL 33139

Area of Focus:  JurisTrade – Litigation Finance & Typhon Capital Management – Finance, Alternative Investments

Member Quote: “By adding standardization, liquidity, and transparency to the nascent but growing litigation finance market, we will institutionalize one of the final frontiers in asset management.”

Announcements Commercial Deals

Angeion Group Expands Mass Tort Litigation Management Capabilities Through Merger with Case Works

By Harry Moran |

Angeion Group (“Angeion”), the industry leader in end-to-end group litigation support, announced today its merger with Case Works, a premier provider of case data management solutions, including client engagement, medical record retrieval, medical review, and inventory analysis. Neutral, but never passive, this strategic integration of Case Works reinforces Angeion’s forward thinking approach to providing seamless tech-enabled support for complex litigation firms and leading law departments, with efficiency and precision.

The merger of Angeion and Case Works follows majority investments into both companies by private equity firm Renovus Capital Partners (“Renovus”) in 2024. Angeion also acquired bankruptcy administration solutions provider Donlin Recano in late 2024. Renovus worked alongside the companies’ founders and management teams to unify the businesses and deliver a seamless experience for clients and employees throughout the integration.

Case Works has earned a reputation of excellence by ensuring accuracy, completeness, and applicability of case data to support legal requirements. By combining their core capabilities with Angeion’s advanced technology and data-driven approach, this merger further solidifies Angeion’s position as the most trusted partner for navigating complex, high-stakes litigation and settlements.

Effective large-scale litigation and settlements rely on comprehensive, well-organized data and the ability to apply that data effectively within the context of a particular project. Combining Case Works’ proven excellence in capturing and managing critical case information with Angeion Group’s expertise in technology, process efficiency and claims management, provides a more structured, more transparent, and more effective approach to large-scale litigation and settlement management.

“Case Works brings deep expertise and a proven track record of supporting firms with large data and medical record retrieval needs. They are known for their dedication to precision, care and bedside manner,” said Steven Weisbrot, CEO of Angeion Group. “Together, we are raising the bar for what clients can expect—faster, more accurate processes and a commitment to white glove service.”

Angeion Group and Case Works share a common vision: to set the new standard for how large-scale litigation and group settlement support can combine technological efficiency with thoughtful human interaction. Both organizations are driven by a commitment to innovation, precision, and efficiency and are mindful that litigants should expect and receive compassion and respect throughout the group litigation process. This merger will elevate industry standards and ensure that all parties, their council, and the courts benefit from a more streamlined, thoughtful and effective process.

“We’re excited to join forces with Angeion Group,” said Susan Barfield, Founder of Case Works. “Their commitment to innovation and client service aligns perfectly with our own, and we look forward to delivering even greater value to the firms and clients we support.”

“We’re honored to have partnered with these leading companies, building upon our strong track record in tech-enabled legal services,” added Lee Minkoff, Managing Director at Renovus. “We’d also like to thank founders Steve Weisbrot and Susan Barfield for their leadership throughout this game changing merger for the group litigation support industry.”

Angeion remains steadfast in its mission to completely modernize and optimize complex litigation management to the benefit of all stakeholders.

About Case Works

Case Works is the leading provider of tech-enabled litigation support solutions to the country’s premier plaintiff law firms. Based in Austin, Texas, the Company was created with a single mission: To Help Lawyers Help People. Case Works provides a full suite of case management services including claims qualification, intake, medical records retrieval & review, case development, and ongoing plaintiff engagement.

About Angeion Group

Angeion Group is a leading provider of legal notice and settlement administration services, leveraging advanced technology, proven best practices, and expert consulting to manage class actions, mass torts, and collective redress administration. Recognized for its innovation, efficiency, and unwavering client commitment, Angeion Group continues to redefine industry standards.

Commercial Fundraising

Nicola Horlick Pauses Digital Bank Launch to Raise Funds for Motor Finance Claims

By Harry Moran |

As LFJ covered last week, the group proceedings being brought against motor finance providers over commissions paid to dealers is attracting a significant amount of interest across the legal funding industry, with the possibility of lucrative settlements to come. 

An article in Financial News features an interview with investment fund manager Nicola Horlick, who discusses her focus on litigation funding for the high-profile motor finance claims in the UK. Horlick, founder and CEO of Money&Co, explained that her company is currently raising funds to lend to law firms that are working on the car finance commission claims. Speaking about the significance of these claims to the wider legal funding industry, Horlick argued that “this is the biggest thing that is likely to happen in litigation funding in the next 15 years.”

The emphasis placed on raising funds for these claims has caused Horlick to pause her plans to launch a digital bank in 2025, with the fund manager explaining that they “don’t have the bandwidth to do the fundraise for that and the bank”. Horlick went on to state that fundraising for the claims “has to be the priority”, and that in the time before these claims begin to reach settlements, “we need to help clients amass as many claims as possible.”

Commercial Legal Innovation

Ignite Specialty Risk Expands Litigation Insurance Offering to the EEA

By Harry Moran |

As industry observers examine which jurisdictions are ripe for growth in terms of the adoption of litigation funding, there is just as much interest in markets with growing demand for litigation insurance products.

In a recent announcement, Ignite Specialty Risk revealed that the litigation risk insurer has expanded its service offering to include the European Economic Area (EEA). As part of this expansion, Ignite will be able to provide insurance products including After The Event (ATE), and single risk and portfolio Capital Protection Insurance (CPI) to customers in the EEA. 

The company highlighted that this move has been driven by the increased demand for litigation risk insurance in the EEA, following on from the European Union’s implementation of the Representative Actions Directive (RAD). Ignite’s Co-founder and Head of ATE, Jamie Molloy, expanded on this point and said that “the growing demand for specialist litigation insurance in the region reflects the increasing importance of accessible risk-transfer solutions.”

Byron Sumner, CEO and Co-founder of Ignite, provided the following comment on the launch of services to the EEA: “Building on our US expansion in 2024, we are thrilled to bring our innovative products to EEA-based insureds. Last year, US-based institutional financiers and law firms began using our products to facilitate meaningful risk transfer and improve access to justice. By entering the EEA, we aim to deliver customised solutions that address the unique challenges of cross-border disputes. This strategic step reinforces our commitment to empowering businesses and legal teams with the tools to manage litigation risks effectively.”

Announcements Commercial Deals

Moneypenny Unites Under One Brand as It Celebrates 25 Years of Excellence

By Harry Moran |

Moneypenny, the world’s customer conversation expert, proudly marks 25 years of delivering exceptional service and innovation. As part of this milestone, Moneypenny is unifying all of its brands across the US, including VoiceNation, Alphapage, Sunshine Communication Services, and Choice Voice, under one internationally recognized name. 

This transition reinforces Moneypenny’s dedication to a clear and dynamic future for its clients and people while reflecting the values and passion that have driven its success. Started in 2000 after a pivotal missed phone call resulted in a missed business opportunity, Moneypenny has since delivered world-class customer conversations to thousands of global businesses. Over the past 10 years, Moneypenny has expanded its presence across the US, growing under the Moneypenny, VoiceNation, Alphapage, Sunshine Communication Services, andChoice Voicebrands. Now, all will operate under the beloved Moneypenny brand in its Atlanta and Miami offices, as well as virtually in hubs across the country. This unification enhances the ability to offer seamless customer communication solutions and strengthens Moneypenny’s position as the world’s customer conversation experts. 

“As we celebrate 25 years of service, we are excited to express more clearly and concisely our passion to those we serve. By bringing the best of all of our businesses together under one brand, we make it easier for businesses to see the full range of solutions we offer, while also enhancing opportunities for our people. This transition underscores Moneypenny’s commitment to excellence, innovation, and a unified global strategy.” said Richard Culberson, CEO of Moneypenny North America. 

"As a company proudly headquartered in Wrexham UK, a city with a rich history and a growing international profile, Moneypenny is proud to represent that same spirit of fellowship, excellence, and focus on what matters most, people,” said Jesper With-Fogstrup, Group CEO of Moneypenny. “Just as Wrexham soccer has captured hearts across the US, Wrexham’s own Moneypenny has captured hearts by connecting businesses, technology, and people on both sides of the pond. We couldn’t be more excited to have all our teams driven by this shared spirit."

To mark its silver anniversary, Moneypenny will celebrate with a throwback “year 2000” prom for its US teams – a tribute not only to Moneypenny’s remarkable quarter-century history, but also to a time before smartphones, live chat, and a global pandemic put companies on call 24-7. By embracing a unified brand, celebrating its legacy, and continuing to invest in its people and AI-driven solutions, Moneypenny is setting the stage for an even stronger future.

About Moneypenny

As the world’s customer conversation experts, Moneypenny’s unique blend of brilliant people and AI technology integrates seamlessly to deliver customer conversations that unlock valuable opportunities for businesses, 24/7. Available across all voice and text channels, Moneypenny responds to and fulfils requirements for thousands of UK and US clients who value their reputation and recognize that the key to sustainable growth is working with a partner who allows them to scale in an agile way. This year, Moneypenny proudly celebrates 25 years of service, having been named one of the “100 Best Companies to Work For” seven times and earning recognition as a Great Place To Work (GPTW). Moneypenny was also named as ‘Best Global Support’ in The Forbes Advisor - The Best Answering Services of 2024.