A specialist Litigation Funder which has offices in Manchester, Dublin and The Netherlands, has appointed an internationally renowned finance executive as its new Chief Financial Officer (CFO).

Finance veteran, Robin Grant, has joined Nera Capital bringing over 25 years’ experience in dealing with various asset classes and investment strategies. 

As a long-standing chartered accountant, Mr Grant explained that he has gained extensive UK and international experience with large firms through to start-ups and is now delighted to join the team at Nera Capital.

“The company has always been successful, and at the moment it is on a steep growth curve which makes Nera Capital increasingly attractive to additional institutional investors,” he said. 

“The firm has an exceptional business model where pursuit of justice for the benefit of claimants is at the heart of everything it does while also generating superior risk adjusted returns for our investors. It’s a win-win for everyone except the corporate wrongdoers.

“I’m very pleased to be at Nera and aim to make a positive contribution as part of the management team.”

Mr Grant added that Nera Capital's success is due to the team working quickly to undertake due diligence, understand the return proposition and do the work needed to get claim strategies into an investable position.

“Once we get there, we move very quickly to deploy funds and aggressively manage the litigation process to get the claims in a position where we can start settling them,” he added.

“The professionalism of the team is unrivalled; this is a team with a strong proven track record.

“They’ve done it for years, they’re all from high-quality institutional, backgrounds and they’re all really passionate about what they do, it’s a very exciting time for the team.”

Reflecting on his own career, Robin explained: “My journey after I left university began with three hard years training to be a chartered accountant with BDO in London.

“It’s an exciting sector to be involved in with lots of challenges and its these that make it enjoyable.” With a craving to earn international finance experience after his qualification in London, Mr Grant boarded a plane to Bermuda and spent the next five years gaining exposure to banking, captive insurance and hedge fund sectors, having stints with PwC and Lombard Odier.   

Looking back on his time, he explained: “I ended up living in Bermuda for five years and the Cayman Islands for two years before returning to London.

“Once back in the UK I gained further experience with large institutions, I was CFO of GLG Partners’ Fund of Funds division (now part of Man Group PLC) and boutique firms, such as Tabula Investment Management Ltd (now part of Janus Henderson), RS Platou Asset Management (now part of Clarksons PLC) and Quantmetrics Capital.

“These experiences are the grounding for everything I have done since then, and I’ve enjoyed taking that skillset and applying it to my role with Nera Capital.”

Speaking about Mr Grant’s appointment, Director of Nera Capital, Aisling Byrne, said the team were delighted to welcome him aboard and look forward to growing the firm together. 

She said: “This year Nera Capital has been able to expand substantially, while achieving significant milestones with multiple investments around the world and large settlements being also achieved “ 

“We are confident that Mr Grant will be able to guide our team through further growth, while we focus on investment returns and justice in the legal system.” 

About Nera Capital 

·       Established in 2011, Nera Capital is a specialist funding provider to law firms.  

·       Provides Law Firm Lend funding across diverse claim portfolios in both the Consumer and Commercial sector. 

·       Headquartered in Dublin, the firm also has offices in Manchester and Holland. 

·       Member of European Litigation Funders Association

.       www.neracapital.com

As an attorney and VP at Milestone, Sam Dolce provides in-depth, comprehensive consultations with attorneys about how to save their firms time and money. Sam is a regular speaker and presenter at academic and legal conferences across the country regarding post-settlement innovation.

Milestone is a high-touch settlement solutions firm on mission to bring efficiency, transparency, and education to law firms and their clients after settlement. An innovator in mass tort and multi-party litigation, Milestone has developed Pathway®, the leading tech solution in the post-settlement space. Milestone was founded in 2012 and is headquartered in Buffalo, New York.

Below is our LFJ Conversation with Sam Dolce:

Milestone has launched an innovative mass tort settlement administration platform. What are the main value-adds here? Why should users consider this product?

Milestone’s Pathway® platform shortens case duration in mass tort litigation by digitizing the post-settlement process.

In addition to providing a more streamlined, accommodating, and informed post-settlement process for claimants, Pathway also serves law firms’ bottom lines. The platform saves law firms time and money, relieving them of the administrative burden of managing post-settlement. Pathway is also the first solution to provide real-time visibility into the settlement process for both claimants and attorneys, fostering transparency and trust and ensuring all parties know where money is at any given time.

By engaging and implementing Pathway, law firms are able to allocate resources more effectively and focus on core competencies. The automation of time-consuming tasks frees attorneys and support staff up to handle more complex legal matters and provide higher-quality client service.

How would litigation funders benefit specifically from Milestone's new platform?

Pathway’s competencies serve the interests of litigation funders in impactful ways.

By speeding up the post-settlement process, Pathway can help litigation funders realize faster returns on their investments. Reduced operational costs through automation and efficiency also lead to higher profit margins. A streamlined post-settlement process can reduce the risk of errors, disputes, and delays.

Pathway’s backend, real-time dashboard is also a game changer for litigation funders, giving them the ability to check in on cash flow or case performance at any given time.

Additionally, law firms that use Pathway can position themselves as more efficient and technologically advanced, attracting top talent and more clients.

What are some of the current trends in settlement administration in the mass tort space, and how is Milestone addressing those?

As corporate negligence shows no signs of slowing down any time soon, we are seeing the number and scale of mass tort cases trending steadily upward across the board. Milestone’s Pathway virtually eliminates any strain that this increased workload could place on law firms by processing tens of thousands of claims in record time and getting full dockets paid in a matter of weeks or months.

Another trend is that with these expanding dockets, attorneys have less and less time to provide individualized attention and guidance to each claimant. With this, it is becoming more common for claimants to lose out on the opportunity to financially plan with their settlement monies, as many don’t become aware of this possibility until it is too late. Pathway ensures that education around settlement planning is baked into the administration process, meaning that claimants get an elevated, customized post-settlement experience, ultimately increasing overall client satisfaction for the law firm.

What have users been saying about the product?  Can you share any feedback?

Numerous law firms have praised Pathway for its efficiency, accuracy, and ease of use. Testimonials from both law firms and claimants highlight the positive impact of the platform on the post-settlement experience.

“All directions and steps were easy to follow regarding a payment, and the support team can be easily reached when having issues or need to get into contact with somebody.” - Claimant who went through Pathway

“What an incredible company! These folks CARE about their clients...I'm not an attorney, but if I were I would certainly be going through Milestone for any mass tort settlement planning!! On the side of customer service—WOW!! I am thoroughly impressed with the stark professionalism and friendliness I experienced throughout the process!” - Claimant who went through Pathway

“The work that Milestone does is absolutely vital to the success of multi-district litigation. Getting to a number in litigation is very hard, but that’s only part of the battle. How you then get that distributed to clients is the other. How do you communicate with 200,000 people and make sure they have access to the money and understand what’s going on with their cases?” - Attorney client

“Faster than AI, they're totally raising the bar.” - Claimant who went through Pathway

Litigation funding and mass torts are growing more interconnected. How do you see these two sectors evolving over the coming years?

Litigation funding and mass torts are both prominent forces in shaping the legal landscape today and into the future, so it makes sense that they’ll grow more interconnected as the years go on.

As more mass torts arise, more substantial financial backing will be needed for firms to be able to take on cases of such large scale. Litigation funders will also likely play a more active role in early case evaluation, helping law firms identify which mass torts to take on. The influx of litigation funding will likely also lead to more innovative fee arrangements between mass tort law firms and their clients. And with litigation funders providing financial backing, we’re likely to see more mass tort firms pursuing litigation rather than being swayed to settle early.

There are countless challenges that come along with this intertwined trajectory, but along with those come many opportunities. Milestone is dedicated to ensuring that ethical considerations and the good of the plaintiff remain at the heart of mass tort operations while simultaneously increasing revenue for litigation funders and law firms.

DocPro Limited, a leading legal technology company, is pleased to announce the successful completion of a $500,000 pre-seed investment round from Multiway Industries. This strategic investment underscores DocPro's commitment to streamlining and enhancing the delivery of legal services through innovative AI-powered solutions.

Advancing Legal Services

Established in 2020, DocPro Limited has been dedicated to making legal services more efficient, accessible, and cost-effective. Through its platforms, DocPro.com and DocLegal.ai, the company leverages cutting-edge artificial intelligence to simplify the creation, customization of legal documents. With over 50,000 registered users worldwide, DocPro.com has become a trusted resource for individuals and businesses seeking reliable legal documentation.

The soon-to-be-launched DocLegal.ai aims to be the most accessible and affordable legal tech solution globally, offering legal documents at prices as low as $2 per document. This initiative will make high-quality legal services readily available to professionals, businesses and individuals alike.

"Our goal is to enhance the delivery of legal services by harnessing AI to make legal processes more efficient and accessible," said Kim Chan, Founder and CEO of DocPro Limited. "This pre-seed investment from Multiway Industries will allow us to accelerate our development efforts, expand our offerings, and improve the overall user experience."

Strategic Growth and Product Development

The $500,000 pre-seed investment will be allocated towards advancing product development, expanding the engineering and AI teams, and implementing go-to-market strategies. DocPro's focus extends beyond document generation, with plans to introduce a comprehensive AI legal assistant service, further enhancing its offerings in the legal tech space.

Investor Confidence

"We are excited to support DocPro in their efforts to enhance legal technology," said Ellie Lee, Managing Director of Multiway Industries. "Their innovative use of AI not only streamlines complex legal processes but also makes legal services more accessible and efficient for businesses like ours."

About DocPro Limited

Founded in 2020, DocPro Limited is a legal technology company dedicated to streamlining the legal industry through AI-powered solutions. As an incubatee under the Cyberport and Hong Kong Science and Technology Parks (HKSTP) incubation programs, DocPro has developed platforms like DocPro.com and DocLegal.ai to empower legal professionals and businesses to create and manage legal documents efficiently and accurately. For more information, visit DocPro.com and DocLegal.ai .

About Multiway Industries

Established in 1978, Multiway Industries is one of the world's largest manufacturers of extension cords, power adaptors, surge protectors, energy-saving programs, and USB chargers. Committed to supporting innovative technology companies, Multiway Industries partners with visionary entrepreneurs to bring transformative solutions to market, making services more accessible and efficient for businesses worldwide.

On Thursday August 15th, LFJ hosted a Virtual Town Hall titled 'PACCAR Revisited.' The live event revisited the PACCAR decision one year later and explored what the future holds for legal funding in the UK and beyond.

Panelists included Ben Knowles (BK), Chair International Arbitration at Clyde & Co LLP, Robert Marven (RM), Barrister at 4 New Square, Nicholas Marler (NM), Head of Technical Underwriting at Litica Ltd, and Neil Purslow (NP), Founder and Chief Investment Officer, Therium Capital Management Limited. The panel discussion was moderated by Tets Ishikawa, Managing Director of LionFish Litigation Finance Limited.

Below are some key takeaways from the event:

We don't hear much from insurers in regard to the PACCAR issue. Nicholas, from an insurer's perspective, what are your thoughts?

NM: The ATE insurers' odyssey through the world of PACCAR is in some ways quite different from that of a litigation funder. At first bluff, you might think that PACCAR doesn't have anything to do with insurers because it has to do with litigation funding agreements, and you'd never catch an insurer signing an LFA, so what's the problem?

If you scratch a little deeper though, the reality is quite different. If you as an insurer, insure a funder, and the funder gives an adverse costs indemnity to the claimant, then all of a sudden, the insurer's contractual fortunes are tied to the funders. If the LFA is unenforceable, then not only can the insurer not collect its contingent premium if there's a success, but the coverage provided to the funder has vanished--this is because the LFA is unenforceable.

We actually had this exact experience play out. An opportunistic claimant sought to cut the funder out, because it felt emboldened to do so as a result of the PACCAR decision. When they were informed that doing so would void their insurance, which was to their benefit, they magically found the goodwill necessary to resolve things with their funder and an amicable solution was quickly found.

You've touched on enforceability. Given how central that is to the heart of the PACCAR issue, Robert, can you share some insights and perspectives on this corse issue?

RM: There are essentially two views on the concept of enforceability. One is that it essentially says there isn't anything wrong with the contract, just that it can't be enforced. There is another view which says that the contract is unenforceable, that it is an illegal contract. I don't agree with that. It seems this is one of the paradoxes of PACCAR, it seems to have rendered unenforceable funding agreements that were perfectly legal under common law.

A lack of enforceability is important to understand as a two-way street. It means the funder cannot enforce, and it also means the claimant cannot enforce. And this is the key to understanding why things have been put right in cases that are still ongoing. A claimant who says to a funder 'I don't have to pay you anymore,' well, a funder could say to the same token, 'I don't have to fund your case anymore.' And we have seen cases that have been over or very nearly over, where the claimants think they don't need the funder anymore and saying 'thank you very much, I needed the funding but I don't have to pay you.' Or 'I did pay you, but I want the money back.'

This is where it's important to remember that enforceability is a two-way street. If all sides want to continue to carry on, then everyone has an incentive in fixing the problem. It's only where those interests converge that seem to have led to a significant litigation dispute.

Ben, from your perspective, how do you think this affects the UKs standing as a legal jurisdiction?

BK: PACCAR created a mess, and it was an expensive mess, irrespective of where we're going to end up. There's been a lot of lawyer's time figuring out what PACCAR means and where we're going to go. The PACCAR fix, as I call it, would have cleared things up to some extend. But the absence of that means some of this uncertainty will continue. And uncertainty means additional costs.

We have these various appeals on the funding agreements out there at the moment. I would expect that in some of these cases, there will be appeals that go to the Court of Appeals, and potentially, all the way up to the Supreme Court. My feeling is, when there's a case to be funded, lawyers will find a way to get that case funded. Although I'd imagine there will be a risk premium attached to that funding, not least because everybody will be getting their funding agreements checked, double-checked and triple-checked. And you may have lawyers who disagree on what's permissible, and that leads to additional costs at the start of the case.

This session is about PACCAR, but we'd be remiss not to talk about the CJC, given how the two issues merge. Neil, you're on the consultation group for the CJC review. Are there any insights you're able to share?

NP: There's now a working party reporting up to the CJC. We're expecting an interim report from that working party to come out in late summer or early autumn, and there will be a consultation, and then the final report in the middle of next year. So we've put on quite a tight timeline.

From an industry perspective, this review is welcome, unless you're opposed to the idea of talking about regulation, which I don't think the industry is. This is a sensible organizational group that is considering these points in a proper and thoughtful way. I would encourage people to get behind the work that ILFA and ALFA are doing here, and I'd also encourage funders to get involved in the consultation phase as well. It's very important that the CJC are thinking about these points with a full and proper understanding of how funding actually works, so they can understand the impact.

I think it's also important that the industry makes sure that the review takes place in a proper context, and by 'proper context' I mean that there is an understanding that funding does have benefits. So the review should look at how good responsible funding can be encouraged and those benefits can be maximized, rather than looking at funding as a suspicious thing that needs to be controlled and is just a risk. I think there is a very positive message for funding that needs to be emphasized, and I think the CJC needs to look at it through this positive lens, and I'm confident that they will.

To view the entire digital event, click here.

• How has the PACCAR decision impacted funders, law firms, and the broader legal services industry?
• Have the initial predictions about the ruling's consequences been accurate?
• How are funders adapting their underwriting standards, pricing models, and PR strategies?
• What does the future hold for the regulation of litigation funding in the UK and beyond?