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Apex Litigation Finance appoint Chris Thenabadu and Stephen Caldecott

June 21, 2023

Apex Litigation Finance appoint Chris Thenabadu and Stephen Caldecott

Litigation funding specialists Apex Litigation Finance have announced the appointment of two new Legal team members: Chris Thenabadu joining as Senior Case Underwriter, and Stephen Caldecott joining as a Case Underwriter. Chris and Stephen joined the Apex team this month. Chris brings many years of experience in the after-the-event insurance and litigation funding markets and will lead the team focused on reviewing new cases and the management of existing risks. Stephen has an insolvency litigation background and will further strengthen Apex’s ability to support the litigation funding needs of the insolvency sector.

Chris Thenabadu

Since 2007, Chris has dedicated his professional career to becoming an expert underwriter in ATE insurance. After qualifying as a solicitor and gaining experience in litigation funding and brokerage for ATE and M&A markets, he was appointed to high-level positions within two of the most prominent ATE insurers. This has allowed Chris to create strong relationships with many UK-based brokers, barristers, and law firms. Chris Thenabadu says: “I specialise in various commercial litigation cases and am known as one of the most competent underwriters in the UK for insolvency and professional negligence cases. I pride myself on being able to apply my considerable market experience to take a pragmatic and commercial approach to the structure of litigation finance risks. I look forward to leading the team at Apex Litigation Finance.”

Stephen Caldecott

Stephen has worked within the insolvency profession since 2000; as an experienced insolvency investigator, Stephen is trained in identifying, assessing, and pursuing potential legal claims in all forms of formal insolvency cases. Stephen’s experience in insolvency litigation is a significant asset to Apex, as it furthers its ability to meet the litigation funding needs of the insolvency market. Stephen Caldecott says: “I bring a wealth of knowledge and experience in all areas of insolvency litigation and will aid Apex in delivering excellent litigation funding solutions to the insolvency sector. My litigation experience, coupled with the gut instinct of a born investigator, will help me to understand and support the needs of Apex clients. I am looking forward to working with the team at Apex”. Apex CEO Maurice Power says: “It’s a pleasure to have Chris and Stephen joining our team. Both their experience and expertise are perfect for their roles, and we know that they will add huge value to our business and our clients. With Apex’s focus of providing litigation funding solutions to small/mid-size commercial claims, the addition of Chris and Stephen will further enhance Apex’s ability to provide access to justice to many more meritorious claimants.” Head of Legal, Stephen Allinson added “I am delighted to welcome Chris and Stephen to our business and very much look forward to working with them. The litigation funding market is developing apace, and I really believe Apex is in an excellent position to build on its already well-established reputation. With Chris and Stephen, we shall be able to respond even more quickly to all enquiries and work very positively with all professional sectors.” Apex is constantly looking to expand its team and is open to hearing from candidates with diverse expertise, from legal to insolvency, litigation funding, AI development, and business development. Having previous experience with litigation funding is optional, as Apex will evaluate an individual’s skillset to see if they can benefit. Interested applicants are asked to contact Apex via enquiries@apexlitigationfinance.com by sending a current cv and details of why they would be ideal for Apex.
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Announcements Commercial

ILFA Welcomes Commissioner McGrath’s Rejection of EU Regulation for Third-Party Litigation Funding

By John Freund |

On 18 November 2025, European Commissioner for Justice Michael McGrath closed the final meeting of the EU’s High-Level Forum on Justice for Growth with a clear statement that the Commission does not plan new legislation on Third Party Litigation Funding (TPLF). 

He added that Forum participants also indicated that there is no need to further regulate third-party litigation funding.

Instead, Commissioner McGrath said the Commission will prioritise monitoring the implementation of the Representative Actions Directive (RAD) over any new legislative proposals. 

(video from 2.32 here). 

Paul Kong, Executive Director of the International Legal Finance Association (ILFA), said:  “We’re delighted to see Commissioner McGrath’s clear statement that EU regulation for third-party litigation funding is not planned. This appears to close any talk of the need for new regulation, which was completely without evidence and created considerable uncertainty for the sector.

Over several years, ILFA has consistently made the case that litigation funding plays a critical role in ensuring European businesses and consumers can access justice without financial limitations and are not disadvantaged against larger and financially stronger defendants. New legislation would have choked off the availability of financial support to level the playing field for claimants. 

We will continue to work closely with the Commission to share the experiences of our members on the implementation of the RAD across the EU, ensuring it also works for claimants in consumer group actions facing defendants with deep pockets.”

About ILFA

The International Legal Finance Association (ILFA) represents the global commercial legal finance community, and its mission is to engage, educate and influence legislative, regulatory and judicial landscapes as the global voice of the commercial legal finance industry. It is the only global association of commercial legal finance companies and is an independent, non-profit trade association promoting the highest standards of operation and service for the commercial legal finance sector. ILFA has local chapter representation around the world. For more information, visit www.ilfa.com or @ILFA_Official. 

About the High-Level Forum on Justice for Growth

European Commissioner for Justice Michael McGrath launched the High-Level Forum on Justice for Growth in March 2025 to bring together legal industry experts to “focus on and discuss together how justice policies can contribute to – and further support – European competitiveness and growth”. The final meeting of the Forum took place on 18 November 2025, in Brussels. 

Announcements Commercial

Pogust Goodhead Appoints Jonathan Edward Wheeler as Partner and Head of Mariana Litigation

By John Freund |

Pogust Goodhead law firm has appointed Jonathan Edward Wheeler as a partner and Head of Mariana Litigation, adding heavyweight firepower to the team driving one of the largest group claims in English legal history following the firm’s landmark liability win against BHP in the English courts.

Jonathan joins Pogust Goodhead from Morrison Foerster in London, where he was a leading commercial litigation partner, having served for seven years as office co-managing partner and for 15 years as Head of Litigation. A specialist in complex, cross-border disputes, Jonathan has extensive experience acting in high-value commercial litigation, civil fraud and asset tracing, international trust disputes, contentious insolvency and investigations across multiple jurisdictions.

In his new role, Jonathan will assume strategic leadership of the proceedings arising from the Mariana dam disaster against mining giant BHP, overseeing the continued development of the case into the damages phase and working closely with colleagues in Brazil, the UK, the Netherlands and beyond.

Howard Morris, Chairman at Pogust Goodhead said: “Jonathan is a heavyweight addition to Pogust Goodhead and to our Mariana team. His track record in running some of the most complex cross-border disputes in the English courts, together with his leadership experience, make him exactly the kind of senior figure we need after our historic liability victory. Our clients will benefit enormously from his expertise and judgment.”

Jonathan Wheeler said: “It is a privilege to join Pogust Goodhead at such a pivotal moment in the Mariana case. The recent liability judgment is a watershed for access to justice and corporate accountability. I am honoured to help lead the next phase of this extraordinary litigation and to work alongside a team that has shown such determination in seeking justice for hundreds of thousands of victims.”

Alicia Alinia, CEO at Pogust Goodhead said: “Bringing in lawyers of Jonathan’s calibre is a strategic choice. As we expand the depth and breadth of our disputes practice globally, we are investing in senior talent who can help us deliver justice at scale for our clients and build an even more resilient firm.”

The Mariana proceedings in England involve over 600,000 of Brazilian individuals, businesses, municipalities, religious institutions and Indigenous communities affected by the 2015 Fundão dam collapse in Minas Gerais, Brazil. Following the English court’s decision on liability on the 14th of November 2025, the case will now move into the next stage focused on damages and the quantification of losses on an unprecedented scale.

Announcements Regulatory Issues

Pravati Capital Establishes Coalition to Advance Responsible Litigation Funding Regulation Across U.S. Following Arizona Law’s Passage

By John Freund |

Arizona’s Senate Bill 1215 (SB1215) will become law on Jan. 1, 2026, marking a significant milestone in the state’s role as a national leader in advancing access to justice through litigation funding, positioning Arizona as a model for other states considering similar measures. Arizona’s legislation reflects a broader movement in states such as California and Georgia, where lawmakers are weighing the benefits of litigation finance as a way to level the playing field for plaintiffs facing deep-pocketed adversaries.

To help advance these efforts, Scottsdale, Ariz.-based Pravati Capital, one of the oldest litigation finance firms in the U.S. and supporter of the bill alongside the Arizona Chamber of Commerce and Industry and the broader legal community, has formed a coalition of litigation funders, attorneys and policy advocates committed to ensuring that states pass responsible regulation that protects plaintiffs. 

The bill’s final passage underscores a consensus reached after months of negotiations and reflects bipartisan compromise, according to Alexander Chucri, founder and CEO of Pravati Capital. SB1215 ensures funding remains a viable option for plaintiffs seeking to stand on equal footing with well-capitalized corporate opponents; it requires greater transparency of legal proceedings and prohibits funding and influence by foreign countries or entities of concern as defined in the legislation. 

“Arizona’s leadership in the area of litigation funding sends a powerful signal nationally,” said Senate Majority Whip Frank Carroll, a key supporter of the legislation. “This legislation is the product of constructive negotiation that demonstrates what’s possible when all sides work toward the shared goal of preserving access to justice.”

“It closes the door on bad actors while ensuring responsible litigation finance firms can continue to help plaintiffs pursue meritorious claims,” said Chucri. “At Pravati, we welcome this as part of an ongoing dialogue.”

SB1215 took effect on September 26, 90 days after the close of the legislative session, and, with a delayed effective date, will become law on January 1. Among key provisions, SB1215:

·       Protects the integrity of cases by restricting involvement by foreign countries or entities of concern as defined in the legislation, ensuring litigation funding remains aligned with U.S. legal and ethical standards.

·       Preserves innovation in legal services, reaffirming Arizona’s pioneering role in allowing alternative business structures (ABS), law firms that permit non-lawyers decision-making authority, to expand access to legal services by partnering with litigation funding firms.   

·       Balances regulation, affirming safeguards such as prohibitions on funders controlling litigation, while maintaining transparency. 

Chucri added, “Pravati has always believed our mission — ‘to befriend, help and protect’ — is best achieved through cooperation and a willingness to educate stakeholders. We will continue to engage constructively in conversations to advance fair, responsible access to justice.” 

About Pravati Capital

Established in 2013, Pravati Capital, LLC is among the oldest litigation finance firms in the U.S., delivering a proven track record as an equalizing force in court and a unique and uncorrelated asset class to investors. Founded by Alexander Chucri, a visionary in developing the industry's first pioneering model of litigation finance in 2003, Pravati Capital brings together a seasoned team with deep experience across law, finance and successful entrepreneurial ventures. The Scottsdale, Ariz.-based firm delivers strategic capital solutions for attorneys and law firms, helps plaintiffs gain access to justice through financial support, and offers accredited investors an attractive asset class designed to perform independently of traditional markets. Pravati’s mission is its namesake: to befriend, help and protect. For more information, visit PravatiCapital.com.