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AALF Chairman: UK Should Avoid Repeating “Australia’s Flirtation with Overbearing Regulation”

By Harry Moran |

With the UK funding industry awaiting the outcome of the Civil Justice Council’s review of third-party litigation funding, most of the commentary about what direction the government should take has come from those professionals practicing inside the UK. However, in an example of transnational solidarity between funding markets, the head of Australia’s industry association has spoken out to encourage the UK government to act to protect its legal funding sector.

In an opinion piece for The Law Society Gazette, John Walker, chairman of the Association of Litigation Funders of Australia (AALF), presents a strong argument that the UK government must avoid following Australia’s past mistake of overregulating the legal funding industry. With the prospect of the CJC’s review soon reaching its conclusion, Walker argues that the government’s “priority must be addressing the uncertainty created by the PACCAR decision”, rather than acceding to the demands of “the powerful, well-resourced and disingenuous minority perspective of the US Chamber of Commerce.”

Walker points to the recent history of legal funding in Australia, where the strength of these critics’ views led to the previous governments introducing strict regulations that created an environment where “access to justice for claimants was denied, corporate wrongdoers were protected, and claims started to dry up.” As Walker explains, the true lesson from Australia was the reversal of these regulations by the new government in 2022, which has seen funding rebound and drive a wave of class actions representing Australians seeking justice once more.

Taking aim at the opponents of the litigation funding industry, Walker highlighted the “myths pedalled” by groups like Civil Fair Justice as being “built on falsehoods that risk clouding reality and choking off access to justice.” Putting the often-repeated claim of funders supporting frivolous claims in the crosshairs, Walker notes “in reality, funders in the UK fund as few as 3% of the cases they're approached about.”

Qanlex Rebrands as Loopa Finance

By Harry Moran |

Litigation funding startups are a common occurrence, especially in recent years. However, the rebranding of an established funder is less common, yet worth keeping an eye on.

In a new blog post, the litigation funder formerly known as Qanlex announced that it is rebranding and will now operate under the name: Loopa Finance. The funder emphasised that it is still “the same team, the same values, and the same focus”, but with a new name that represents  the adoption of a “a clearer, more modern, and more memorable identity.”

The blog post goes on to provide a fuller explanation of the new name: “Loopa refers to our way of working: examining each opportunity with a magnifying glass and creating virtuous loops of funding, access to justice, and efficient conflict resolution.” The announcement also clarifies that the rebranding “does not imply any structural, corporate, or operational modifications.”

Loopa was founded as Qanlex in 2020, offering litigation finance services for cases in Latin America before expanding its funding solutions to commercial claims and arbitrations in continental Europe. As LFJ reported in January of this year, the funder revealed that it was refining its Latin America strategy using new technologies and focusing on specific sectors within individual jurisdictions in the region. Examples of this sector focus include energy cases in Ecuador, real estate development matters in Costa Rica, and oil and energy cases in Colombia. 

More information about Loopa Finance can be found on its website

Echo Law and LLS File Class Action Against Toyota Finance in Australia

By Harry Moran |

Class actions in Australia continue to be viewed as desirable opportunities for litigation funders, with the first half of 2025 already seeing a number of funded claims brought on behalf of consumers wronged by the state or large corporations. 

A joint media release from Echo Law and Litigation Lending Services (LLS) announced that they are pursuing a new class action against Toyota Finance in Australia, this time over the sale of “junk” add-on insurance to consumers. The claim, which has been brought before the Supreme Court of Victoria, alleges that Toyota Finance and insurer Aioi Nissay Dowa Insurance Company Australia (ADICA), engaged in “unjust, unfair, misleading and unconscionable” conduct that breached the Corporations ACT, ASIC Act, and National Consumer Credit Protection Act 2009.

The class action has been filed on behalf of any consumers who took out a car loan with Toyota Finance and were sold a Toyota branded add-on insurance policy between 1 January 2010 and 5 October 2021. The allegedly “junk” insurance policies covered by the class action include Toyota Payment Protection Insurance, Toyota Finance Gap Insurance, and Toyota Extended Warranty Insurance.

Alex Blennerhassett, Principal Lawyer at Echo Law, said that “this class action is about holding Toyota Finance and ADICA to account for knowingly selling junk insurance to everyday Australians, even though these policies offered no value.” In a separate post on LinkedIn, Emma Colantonio, Chief Investment Officer at LLS, said that the class action is “a strong example of litigation funding enabling access to justice and supporting consumers in holding major financial players to account.”

This class action is separate to the Flex Commissions claim which was filed by Echo Law against Toyota Finance in February 2024. That class focuses on allegations that car dealers secretly inflated the interest rate on consumers’ car loans, resulting in additional interest fees. The Supreme Court has ruled that these separate class actions can be managed together, and Ms Blennerhassett said that they expected “there to be a significant number of persons who are group members in both proceedings”. 

LLS is providing funding for both class actions brought against Toyota Finance. More information on both class actions can be found on Echo Law’s website.

Drew Kelly Joins Invenio LLP as Of Counsel

By Harry Moran |

In an announcement posted by Invenio LLP, the law firm revealed the appointment of Drew Kelly in an Of Counsel role. Kelly brings a wealth of knowledge to the Invenio team, with nearly two decades of experience across the legal and litigation finance sectors.

Kelly joins Invenio having most recently served as General Counsel at litigation funder Delta Capital Partners with responsibility for oversight across a wide range of areas including legal affairs, fund governance and portfolio transactions. Prior to his time at Delta, Kelly gained valuable experience as an attorney at both Husch Blackwell and K&L Gates. In addition to these roles, Kelly founded Modernist Law LLC in June 2024.

In a separate post on LinkedIn, Kelly said, “My affiliation with Invenio allows me to broaden my reach while staying focused on the same hands-on, business-minded service my clients have come to expect.” He went on to say that “Invenio brings deep experience and an entrepreneurial mindset”, while highlighting the approach taken by Ed Gehres and Blake Trueblood at Invenion for “their commitment to innovative, business-first legal solutions”.

Kelly also clarified that he would “continue to serve clients directly” through his work at Modernist Law, with his new role at Invenio allowing him “to offer expanded capabilities and deeper bench strength to clients who can benefit from it.”

Invenio’s announcement also noted the hiring of Kelly as another addition to its team being composed entirely of former General Counsels, emphasising that this collective experience gives the firm a unique perspective in offering business-focused legal advice.

Senator Tillis Introduces Bill to Tax Litigation Funders’ Profits

By Harry Moran |

As LFJ has covered over recent months, the movement to limit the use of third-party litigation funding or to impose restrictions on the practice has seen several successes with state legislatures bringing new rules into force. However, a bill introduced in the U.S. Senate has taken a different approach by looking to impose a targeted tax on funders’ profits from financing civil lawsuits. 

Last week Senator Thom Tillis, (R) from North Carolina, announced that he has introduced the Tackling Predatory Litigation Funding Act. The bill differs from those introduced at the state level in that it does not seek to create new restrictions around the use of third-party funding, instead it is focused on imposing a new tax on any profit that funders receive through the funding civil litigation. 

The current draft text of the article would create a new chapter in Subtitle D of the Internal Revenue Code of 1986, imposing a tax on ‘any qualified litigation proceeds’ received by a funder. The amount of tax is proposed to be set at ‘the highest rate of tax imposed by section for such taxable year, plus 3.8 percentage points.’ The bill would apply this tax on any litigation financing arrangement, regardless of whether the funder was a domestic or foreign entity.

In the announcement of the bill, Senator Tillis said, “This legislation will bring much-needed transparency and accountability by taxing these profits and deterring abusive practices that undermine the integrity of our courts.”

Representative Kevin Hern, who has introduced a companion bill in the House of Representatives, argued that “taxing these third-party entities will limit unmeritorious lawsuits and provide economic relief to the middle class.”The full text of the Tackling Predatory 5 Litigation Funding Act can be read here.

Deminor Raises EUR 100 Million to Support Global Growth

By Harry Moran |

Deminor, a leading global litigation funder, is pleased to announce the successful completion of a EUR 100 million funding round. The proceeds will be used to support the continued expansion of Deminor’s litigation portfolio across its three core regions: Continental Europe, the UK and Asia.

Next to this major funding milestone, Deminor has also achieved the “Certified B Corporation™” status, becoming the first litigation funder outside the US to do so. This certification highlights the company’s commitment to high standards of social and environmental performance, transparency, and accountability.

  1. Over the past few years, Deminor has significantly diversified its portfolio in terms of both claim types and geographic reach. Originally focused on securities actions for investors in Continental Europe, Deminor now finances a broad range of claims, including competition and antitrust cases, collective consumer actions and commercial litigation/arbitration throughout its three core regions: Continental Europe, the UK and Asia.

The firm currently funds 47 active cases and has funded a total of 85 cases across 23 jurisdictions. Notably, 78.8% of all concluded cases have resulted in positive outcomes for clients—reflecting Deminor’s disciplined case selection and prudent risk management approach.

Deminor also leverages a proprietary digital platform to deliver technology-driven solutions for managing mass claims in areas such as securities, antitrust, and consumer law.

  1. The latest investment round of EUR 100 million, comprising equity, senior and junior debt, and asset-backed financing, includes participation from a diverse group of investors. These include Contingency Capital LLC (New York), which provided a EUR 72 million (USD 80 million) secured credit facility to the company, alongside finance&invest.brussels SA (backed by the Brussels regional government and local financial institutions), Stalusa (a Belgian family office), and Saffelberg Investments (a Belgian private equity firm). Existing shareholders, including Deminor’s management team, also participated in the round.

Despite challenging market conditions and regulatory uncertainty in 2023 and 2024, the legal finance sector remains resilient and is expected to record strong growth in 2025 and beyond. Key drivers include growing market awareness, restricted corporate credit access, and a rising number of collective actions by both businesses and consumers.

  1. As the first litigation funder outside the USA to achieve B Corp certification, Deminor reaffirms its mission as a value-driven organization. High ethical standards have always guided its investment strategy, and the firm is proud to support claimants who might otherwise lack access to justice. Deminor believes this approach promotes a more balanced legal landscape and contributes to a fairer economy and society.

About Deminor: 

Founded in 1990, Deminor is a Band 1 Chambers & Partners international litigation funder with offices in Brussels, London, Hamburg, New York, Hong Kong, Madrid, Milan, Stockholm and Luxembourg. Deminor’s name, derived from the French ‘défense des minoritaires’, reflects its origins in providing services to minority shareholders. Deminor is still very much defined by the pursuit of good causes and its determination to restore justice for clients. 

Combining skill sets from 19 different nationalities and 22 languages, Deminor has actively supported cases in 23 different jurisdictions, including the Americas, the Middle East and offshore centres such as the Cayman Islands and Bermuda. 

In addition to funding one-to-one commercial claims, Deminor originates, syndicates and funds group actions. In 2018, Deminor was instrumental in securing the two largest securities settlements in Europe (EUR 1.4 bn in the Steinhoff case and EUR 1.3 bn in Fortis/Ageas).

Legora Attracts $80 Million Series B Funding

By Harry Moran |

Today, Legora announces an $80 million funding round led by ICONIQ and General Catalyst, with continued support from existing investors Redpoint Ventures, Benchmark, and Y Combinator. This latest round is a strong endorsement of Legora’s product quality, velocity and the remarkable traction it has achieved globally—underscored by its rapid progression from inception to Series B in under two years.

The deal comes as adoption of legal AI surges across the world. Legora is at the forefront of this shift - with lawyers across 250 firms and legal teams in 20 markets globally making daily use of its platform to review and research with precision, draft smarter, and collaborate seamlessly.

Legora operates out of New York, London, and Stockholm, with 100 employees drawn from some of the world’s leading global law firms and tech companies.

Max Junestrand, CEO and founder of Legora said: “The investment is a clear validation of the value our product is delivering to lawyers around the world. While we weren’t actively seeking funding, the strength of our growth, product, and client partnerships naturally attracted this backing, and I am ecstatic to have ICONIQ and General Catalyst with us on the journey as Seth and Jeannette join our board.

“This enables us to double down on what’s always set Legora apart — deep collaboration with our clients — and to scale innovation and accelerate product development, ensuring we leverage rapidly changing technology to meet the needs of the legal profession. We’re committed to building a product that not only solves today’s challenges but continues to adapt and deliver long-term value.”

Seth Pierrepont, General Partner at ICONIQ commented: “From our first conversation with Max and Sigge, it was immediately evident to us that they are building with rare clarity and velocity, creating a platform that doesn’t just fit into legal workflows — it elevates them, and understands the nuance and pace of modern legal teams. In just two years, they’ve delivered an enterprise-grade product that’s already trusted by hundreds of law firms and in-house legal teams globally. We’re proud to partner with Legora as they scale what we believe is a category-defining platform that’s reshaping how legal work gets done.”

Jeannette zu Fürstenberg, Managing Director and Head of Europe at General Catalyst said: “Legora is driving AI transformations in a highly specialized industry. With an outstanding product, rapid adoption by top-tier firms, and a founder who combines rare product instinct with exceptional execution, as we see it, Legora is redefining how legal work gets done. We’re excited to support Max and the team as they scale this category-defining platform.”

Legora’s collaborative approach to developing and embedding its AI underpins its success to date. More than just a platform, Legora is a true partner to clients, working alongside them from the first interaction to company-wide rollout and beyond. This ensures Legora’s solution is intuitively matched to client needs, and that engagement is broad and deep from day one; with the technology embraced by junior lawyers right up to managing partners across enterprises.

By building with lawyers, not just for them, Legora has accelerated adoption and delivered immediate value. Its AI platform is making a measurable impact at top law firms and in-house teams, powering multiple work-critical use cases and helping teams get to the heart of key issues in hours rather than days — enabling improved and more confident client responses with less write-offs.

Mary O’Carroll, Goodwin’s Chief Operating Officer commented: “Legora represents exactly the kind of strategic technology investment that keeps Goodwin at the forefront of legal excellence. We've been very pleased with the initial results we have seen since partnering with them in March, and we look forward to continuous improvement in how our lawyers use Legora to deliver legal services and insights to clients.”

Max Junestrand added: “AI, simply put, is a historic opportunity for legal professionals to get real leverage on their expertise and know-how. We have observed tasks such as reviewing data-rooms go from weeks to hours with no loss in accuracy - making human-machine intelligence and collaboration the de facto way of working. Both law firms and legal teams are already reaping the benefits of these advancements at scale.”

About Legora

Legora is the world’s first truly collaborative AI for lawyers serving over 250 law firms and in-house legal teams across 20 countries. Co-founded by CEO Max Junestrand and CTO Sigge Labor, Legora now has offices in New York, Stockholm and London and has raised $120M in funding to date. Legora works with prestigious clients such as Cleary Gottlieb, Goodwin and Bird & Bird - helping lawyers review, draft and work more effectively with AI. Legora.com

About ICONIQ

ICONIQ is a global investment firm catalyzing opportunity through extraordinary community. Our venture and growth investment platform partners with visionaries defining the future of their industries to achieve uncommon outcomes. Drawing on the wisdom and connectivity of our extraordinary community, we support our portfolio companies’ success at every inflection point, from early traction to IPO and beyond. Our robust portfolio includes Adyen, Airbnb, Alibaba, Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa, Datadog, Docusign, Gitlab, Marqeta, Miro, Procore, Red Ventures, Relativity, ServiceTitan, Snowflake, Sprinklr, Truckstop, Uber, Wolt, and Zoom, among others. For more information, please visit www.iconiqcapital.com/growth.

About General Catalyst

General Catalyst is a global investment and transformation company that partners with the world’s most ambitious entrepreneurs to drive resilience and applied AI.

We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond.

With offices in San Francisco, New York City, Boston, Berlin, Bangalore, and London, we have supported the growth of 800+ businesses, including Airbnb, Anduril, Applied Intuition, Commure, Glean, Guild, Gusto, Helsing, Hubspot, Kayak, Livongo, Mistral, Ramp, Samsara, Snap, Stripe, Sword, and Zepto.

SIM IP Provides Funding and Strategic Advisory Services to Gene Pool to Drive Global Intellectual Property Monetization

By Harry Moran |

Sauvegarder Investment Management, Inc ("SIM IP"), a Miami-based firm focused on intellectual property-based financing, investment, and monetization, today announced it has entered into a funding and strategic advisory agreement with Gene Pool Technologies.

Gene Pool Technologies ("Gene Pool") focuses on the development, aggregation, and licensing of advanced extraction and processing technologies, with a particular emphasis on solutions applicable to the cannabis and hemp industries. Gene Pool's intellectual property portfolio broadly covers innovations in plant extraction methods, equipment, and systems that enhance quality, safety, and efficiency for producers and manufacturers.

"We believe that Gene Pool brings a disciplined, technology-focused process to intellectual property licensing that aligns with SIM IP's commitment to efficient and transparent value creation," said Jennifer Burdman, Managing Director at SIM IP. "We look forward to collaborating to provide inventors with stronger protection and improved monetization opportunities, while offering industry participants with streamlined access to critical technologies through clear and equitable licensing terms."

Erich Spangenberg, CEO of SIM IP, commented, "Gene Pool is leveraging two key services provided by SIM IP, which includes capital support through a corporate investment and unparalleled, strategic advisory expertise. Gene Pool strategically chose to leverage our capital for both litigation and the anticipated acquisition of additional intellectual property, as well as our extensive expertise in global intellectual property monetization to support execution and business strategy."

Gene Pool partners with innovators and technology owners to ensure their innovations are protected, compensated, and accessible to operators through operator-friendly, non-exclusive licensing agreements. Gene Pool's licensable portfolio includes  over fifty patent assets, with approximately half owned by Gene Pool and the rest being in-licensed from key market innovators.

"Gene Pool was seeking a strategic partner capable of providing capital and supporting the execution of our intellectual property monetization strategy across multiple jurisdictions, including the U.S. and Europe. We're pleased to have identified SIM IP as a partner and to have formalized our collaboration," said Travis Steffen, CEO of Gene Pool. "We met with numerous litigation funding firms; however, only SIM IP demonstrated strategic advisory service capabilities and meaningful experience in global enforcement strategies."

Over the last few years, Gene Pool secured significant legal victories against companies in the cannabis and hemp industries including defending key patent claims in three inter partes review proceedings before the U.S. Patent and Trademark Office; defeating invalidity, non-infringement, and illegality challenges against these claims in U.S. District Court; and most recently obtaining summary judgment from the same court that the Defendants infringed these claims.

About SIM IP
Sauvegarder Investment Management, Inc. ("SIM IP") is a Miami-based firm focused on intellectual property-based financing, investment and monetization opportunities. SIM IP invests across IP as an asset class and across jurisdictions, primarily focusing on the US, Europe, and Asia. Further information is available at www.simip.io. Follow us on LinkedInX (Twitter), and Instagram

About Gene Pool Technologies
At Gene Pool Technologies, we believe in industry solutions that recognize inventors, incentivize ongoing R&D, and enable operating companies with seamless access to technologies that will be critical to the long-term success of the Cannabis industry. Our team brings decades of experience across Cannabis and intellectual property and is deeply committed to the success of the industry and the innovation that will continue to drive quality, safety, and efficiency.

Burford Capital CEO: Government Inaction on PACCAR is Harming London Market

By Harry Moran |

As we approach the beginning of summer, the litigation funding industry is growing impatient in waiting for the outcome of the Civil Justice Council’s (CJC) review of litigation funding, with funders anxious to see the government provide a solution to the uncertainty created by the Supreme Court’s ruling in PACCAR.

An article in The Law Society Gazette provides an overview of an interview with Christopher Bogart, CEO of Burford Capital; who spoke at length about the ongoing impact of the UK government’s failure to introduce legislation to solve issues created by the PACCAR ruling. Bogart highlighted the key correlation between funders’ reluctance to allocate more capital to the London legal market and “the government non-response” to find a quick and effective solution to PACCAR.

Comparing the similarities in effect of the government inaction over funding legislation to the Trump administration’s tariff policy, Bogart said simply, “markets and businesses don’t like such uncertainty.” He went on to describe the London market as “not as healthy as you would like it to be”, pointing to statistics showing a decrease in capital allocation and the examples of major funders like Therium making job cuts.

One particular pain point that Bogart pointed to was Burford’s newfound hesitancy to name London as an arbitral seat and choose English law for international contracts, saying that the company has moved those contracts to jurisdictions including Singapore, Paris or New York. Bogart said that it was “unfortunate because this is one of the major global centres for litigation and arbitration”, but argued that the strategic jurisdictional shift was a result of having “a less predictable dynamic here in this market”.

As for what Bogart would like to see from the upcoming CJC’s review of litigation funding, the Burford CEO emphasised the longstanding view of the funding industry that there is “no need for a big regulatory apparatus here.” Instead, Bogart suggested that an ideal outcome would be for the CJC to encourage Westminster “to restore a degree of predictability and stability into the market.”

Insurance CEO Ceases Trading with Firms Linked to Litigation Finance

By Harry Moran |

The tensions between the insurance industry and litigation finance are well established, with insurance industry groups often at the forefront of lobbying efforts calling for tighter regulations of third-party funding. In one of the most significant examples of this tension, the CEO of a speciality insurance company has declared that his company will cease doing business with any firm that is linked to litigation funding activity.

An article in Insurance Business highlights recent comments made by Andrew Robinson, chairman and CEO of Skyward Specialty Insurance Group, where he said that the company would no longer do business with companies who have any ties to litigation finance. Citing the uptick in the use of third-party funding as one of the primary contributors to social inflation, increasing product costs and reduced availability; Robinson declared that Skyward are “not going to trade with anybody who's involved in this”.

According to the article, Robinson’s decision was triggered by the company’s discovery that an asset manager it worked with was involved in litigation funding. Skyward then “shut off” its business relationship with the asset manager and is in the process of redeeming any remaining assets with the firm. Robinson said that the idea of Skyward having ties to firms involved with litigation finance “is wrong at all levels”, saying that he told his executive leadership team that “we can’t have that anywhere near us”.

Aside from the asset manager, Skyward was trading with a company involved in contingent insurance whose work included litigation finance, but Robinson stated that the unnamed company is reducing its already minor presence in the funding space.

Despite targeting his ire primarily at litigation funding, Robinson suggested that the wider issue stems from a “broken” tort system and that “you have to get to the root cause and toward reform”.  

Bell Gully Report: New Zealand Courts are “Enablers of Litigation Funding”

By Harry Moran |

Following a 2022 report from New Zealand’s Law Commission, there has been a distinct lack of action by successive governments to introduce a Class Actions Act or any forms of oversight for the use of third-party funding in large group claims.

A new report released by Bell Gully looks at the current state of class actions in New Zealand, examining the rise of large group claims  and the role of litigation funding as a key driver. In ‘The Big Picture: Class Actions’, Bell Gully says that “in the past five years class actions have moved from being a threat on the horizon to a regular feature in New Zealand’s courts”. 

The introduction to the report appears to paint litigation funders as the prime moving force behind this trend, saying that the swell in class actions is “being driven by the availability of third-party litigation funding rather than a groundswell of consumer action.” Identifying the most prominent funders at work in New Zealand, Bell Gully points to LPF Group as the dominant local funder, Omni Bridgeway for its strong market reach from Australia, and Harbour for its global strength across litigation and arbitration funding. 

Without any legislative measures regulating funding and with no established industry association like Australia’s AALF, Bell Gully highlights the courts as the main mechanism of control over funding activity. The report goes further and suggests that “funder-friendly court decisions have contributed to the growing influence of litigation funders in New Zealand”, noting the admission of opt-out class actions and courts’ willingness to make common fund orders.

In its review of the need for a Class Actions Act in New Zealand, Bell Gully argues that the current lack of oversight on funding has led to a situation where the courts are acting as “enablers of litigation funding” rather than regulators of the practice.

The full report can be accessed here.

LitFin Launches Initiative in France Supporting Women over Essure Implant Complications

By Harry Moran |

When it comes to medical and personal injury group claims, the financial resources that litigation funders provide is often a vital component of their potential success. However, a new initiative tackling a specific medical claim in France also demonstrates the importance of funders working with specialist law firms and local associations who have the requisite knowledge and experience to support these patients.

In a post on LinkedIn, litigation funder LitFin announced the launch of an initiative to support women in France who have suffered or are suffering health complications related to the Essure contraceptive implant. 

The Essure implant is a non-surgical, permanent method of contraception which was introduced in 2001, but in the years following its use has seen thousands of women develop serious health complications from the implant. Bayer, the manufacturer of Essure, stopped the sale and distribution of the device in 2018.

The initiative launched by LitFin is in collaboration with RESIST, an independent French association founded in 2016 that has been campaigning for and supporting women who have been affected by issues following the use of the implant. Legal support for the initiative is being provided by JVL & Associés, a French law firm located in Rouen, Normandy, that specialises in health law and has 20 years of experience in medical accident claims and patient law.

More information about the initiative and upcoming public events hosted by RESIST can be found on the Implant Compensation Claim website.

Litigation Lending Services Funding Queensland Health Class Action

By Harry Moran |

When it comes to the important role that legal funding can play in providing access to justice, some of the most important cases are those that seek to offer that justice to communities who have been the subject of discrimination based on their identity.

In a post on LinkedIn, Litigation Lending Services (LLS) announced that it is funding a class action filed by JGA Saddler and brought on behalf of Aboriginal and Torres Strait Islander peoples against the State of Queensland. The group action focuses on allegations that these communities were subject to racial discrimination by the state in its failure to provide adequate healthcare across Far North and Northwest Queensland.

The representative proceeding, which has been filed with the Federal Court of Australia, represents those people from these communities who were serviced by the North West Hospital and Health Service (NWHHS) and the Torres and Cape Hospital and Health Service (TCHHS). It alleges that between 1996 and 2024, the state breached the Racial Discrimination Act 1975 by preventing these communities from accessing healthcare services “in a manner consistent with their human rights and fundamental freedoms.”

LLS said that it is “committed to supporting access to justice for communities whose voices are too often overlooked.” In a separate post on LinkedIn, Ella Colantonio, chief investment officer at LLS, said that the class action is “a stark reminder of the role litigation can play in challenging systemic inequality and giving voice to communities that have long gone unheard.”

More information about the Queensland Health Class Action can be found on the claim’s website.

CAT Releases Judgment Approving £200m Settlement in Mastercard Class Action

By Harry Moran |

As LFJ covered in February, a settlement in one of the largest group actions in UK history remains one of the most significant events for legal funding in 2025. With arbitration between the litigation funder and class representation still ongoing, the formal approval of the settlement will stand as a landmark moment  in the Mastercard proceedings, even if the final chapter on the case is yet to be written.

The Competition Appeal Tribunal (CAT) has today released the judgment granting the collective settlement approval order (CSAO) for the £200 million settlement in the Merricks v Mastercard class action. The approval of the settlement signifies the conclusion of proceedings that have dominated headlines both for the size of the claim at stake, and the fallout that followed from a dispute between litigation funder Innsworth and Mr Merricks as the class representative over the size of settlement.

The summary of the judgment released by the CAT detailed the division of the £200 million settlement, with the total amount “split into three pots”. 

Pot 1 represents half of the total settlement at £100 million and is ringfenced for class members, with Merricks enlisting the support of claims administrator Epiq Class Action & Claims Solutions for distribution to class members following a six month notice period. Depending on the volume of class members who come forward with a claim, the individual payout to class members will vary, with £45 per member if there is a 5% uptake. There is also a maximum cap of £70 per member “to prevent excessive individual recovery”.

The Pot 2 total of £45,567,946.28 has been ringfenced for litigation funder Innsworth to account to cover its costs and act as the basis for a minimum return for its investment. 

As the CAT’s judgment awarded Innsworth a 1.5 return on its investment, Pot 3 has a dual purpose. This remaining sum of £54,432,053.72 is set aside to fulfil the remaining profit return to Innsworth, and to supplement Pot 1 should more than 5% of class members submit claims. The judgment also requires any leftover amount in Pot 3 should be paid to “a consumer charity or the Access to Justice Foundation so that more than half of the Settlement Sum is distributed to the Class.” 

Whilst the judgment does not put an end to the arbitration that Innsworth has commenced against Mr Merricks over the settlement, it does approve an indemnity of £10 million that Mastercard has given to Mr Merricks as part of the settlement. The CAT stated this personal indemnity “did not impugn the Tribunal’s view of the settlement.”

The full judgment from the CAT in Walter Hugh Merricks CBE v Mastercard Incorporated and Others can be read here.

Court Approves Settlement Between MMA Law Firm and Litigation Funders to Sell 6,000 Mass Tort Cases

By Harry Moran |

The risk taken by litigation funders reflects the inherent uncertainty of any given case. However, there are rare examples where that risk is compounded by the potential for improper conduct by the law firm entrusted with a funder's financial resources.

An article in Reuters covers the approval of a settlement between MMA Law Firm (formerly McClenny Moseley & Associates) and two litigation funders, which will see the bankrupt law firm sell more than 6,000 cases to repay debts owed to the funders. Equal Access Justice Fund and EAJF ESQ Fund had sued MMA in Texas state court, and under the new settlement will receive a minimum of $18 million from the sale of the cases. The settlement brings the dispute between the funders and law firm to a close, following years of court battles over MMA’s filing of lawsuits on behalf of people it did not represent.

The settlement, which was approved by Chief U.S. Bankruptcy Judge Eduardo Rodriguez, requires that 75% of the proceeds from the sales go to the two funders, with the remaining percentage of proceeds distributed to MMA’s other creditors. The $18 million figure set as a minimum return for the funders under the settlement is still significant below the nearly $38 million that they claim to be owed by MMA. The mass tort cases include claims related to pharmaceutical drug, a weed killer, and a baby formula.

The troubles facing MMA go back several years, with LFJ reporting back in 2023 on a petition lodged by the same two funders in a Louisiana court over MMA’s improper filing of claims on behalf of property owners who suffered damage to their properties from hurricanes. The law firm and its founder, Zach Moseley, were reported to be under investigation by the FBI over these filings of claims but there is currently no update as to the status of that investigation. 

The settlement also allows MMA and Moseley to continue working on other cases on its books, on the condition that the latter does not receive any form of salary increase or bonus before the funders have been repaid.

Panthera Resources Files $1.58 Billion Claim for Damages in Dispute with India

By Harry Moran |

The prolonged duration of investor-state treaty disputes often means that updates on these claims are few and far between. However, the presence of litigation funding allows these claims to proceed at their own pace without the claimant being concerned over the significant financial resources needed to support these disputes. 

In an announcement released today, Panthera Resources Plc provided an update on the arbitration claim being brought by its subsidiary company, Indo Gold Pty Ltd (IGPL), against the Republic of India over the Bhukia project. The announcement revealed that IGPL has issued its Memorial to the arbitration tribunal, which includes a claim for damages totalling $1.58 billion. 

The filing of the memorial and statement of claim to the tribunal follows IGPL’s formal issuance of a Notice of Arbitration to India in July 2024, and the tribunal’s later order to file the memorial by 16 May 2025.

As LFJ previously reported in August 2023, Panthera Resources has secured litigation funding through LCM Funding, a subsidiary of Litigation Capital Management. The funding agreement provides for up to $13.6 million in financing to support the dispute through to a conclusion.

The claim being brought by IGPL centres on alleged breaches of the 199 Australia-India Bilateral Investment Treaty, claiming that the Government of Rajasthan ‘denied and frustrated’ IGPL’s right to be granted a prospecting license over the Bhukia mining project. Furthermore, IGPL’s claim alleges that it suffered a total loss of investment following the passing of new legislation in 2021 which amended the Mines and Minerals (Development and Regulation) Act of 2015 and thereby revoked the preferential right to a prospecting license and mining lease.

Legal Bay Presettlement Funding Offers Comprehensive Guideline for Funding Contracts to Avoid

By Harry Moran |

As the lawsuit funding industry continues to grow, Legal-Bay Lawsuit Settlement Funding is issuing a public advisory to plaintiffs navigating the complex and often underregulated pre-settlement loan landscape. The company urges consumers to remain vigilant against deceptive contract practices and highlights its own commitment to transparency, fairness, and ethical funding solutions.

While pre-settlement funding can offer critical financial relief during lengthy legal battles, Legal-Bay warns that not all funding companies operate ethically. In particular, the firm is cautioning plaintiffs to avoid contracts that include compounding pricing models, hidden fees, and vague language, common tactics used by unscrupulous funders.  Legal-Bay also offers refinancing's in event you have a large legal funding lien with a bad compounding rate and want cheaper pricing.

Chris Janish, CEO of Legal Bay, says, "Too often we see plaintiffs fall victim to exploitative funding agreements that leave them owing far more than they borrowed, especially after years of compounding costs buried in the fine print. Many of these contracts are intentionally confusing, designed to mislead consumers. At Legal-Bay, we offer refinancing options on large funding buyouts, by converting your existing compounding lien into a flat pricing lien – no different than a home mortgage refi."

If you are involved in any active litigation and would like to discuss how to get a cash advance from your anticipated lawsuit settlement, please visit the company's website HERE or call 877.571.0405 where agents are standing by to hear about your specific case.  

Legal-Bay outlines several red flags that plaintiffs should watch out for when considering a pre-settlement advance:

  • Compounding interest without clear repayment terms: Some funders fail to disclose how much a plaintiff will owe over time, resulting in balances that balloon dramatically after two or three years.
  • Vague or misleading contract language: Important terms are often hidden in fine print or presented in confusing legal jargon.
  • Discouraging attorney involvement: Ethical funders will encourage plaintiffs to review all funding agreements with their attorneys instead of trying to edge them out of the discussion.
  • Lack of disclosure about maximum repayment: Some contracts leave plaintiffs uncertain about how much will ultimately be deducted from their settlement.

In contrast, Legal-Bay's approach is rooted in transparency, fairness, and full attorney cooperation. All of their contracts are structured to include straightforward terms, capped repayment amounts, and no compounding interest. Plaintiffs and their attorneys are given full access to review and understand the terms before any funding is finalized.

Legal-Bay's dedication to ethical funding has made it a trusted name in loan on lawsuit funding for plaintiffs in personal injury, sexual abuse, motor vehicle accidents, medical malpractice, dog bite, commercial litigation, and many more.

Legal-Bay's lawsuit funding programs are designed to provide immediate cash in advance of a plaintiff's anticipated monetary award. While it's common to refer to these legal funding requests as loans on lawsuit or settlement loans, legal funding isn't like a loan at all. Because the funds are non-recourse, there's no risk since there is no obligation to repay the money if the recipient loses their case.

To apply right now for a loan settlement program, please visit the company's website HERE or call toll-free at: 877.571.0405 where agents are standing by to answer any questions.

LFJ Podcast: Richard Culberson, CEO, Moneypenny

By John Freund |

In this episode, Richard Culberson, the CEO of Moneypenny, discuses how technology is redefining communications and the client experience within the litigation funding and broader legal services industries.

In this podcast, Richard highlights:

  1. Balancing innovation with professionalism when it comes to the human connection that clients demand
  2. How to implement secure digital communication tools to ensure that AI-enabled client insights maintain robust security
  3. One technology that most firms still overlook but has the potential to become a major differentiator in client experience
  4. Practical first steps for firms that wants to future-proof their communication strategies without overwhelming their internal teams.

Plus much more! Check out the full video below:

https://www.youtube.com/watch?v=5JMz-6XwtHg

Theo Ai Secures 4.2MM Seed Round to Advance AI-Powered Settlement Prediction for Big Law

By Harry Moran |

Theo Ai, the AI-driven prediction platform for litigation, has raised a $4.2 million seed round just six months after its $2.2 million pre-seed announcement in November. The round was co-led by returning investor NextView Ventures and new investor Collide Capital. As part of the investment, Aaron Samuels, General Partner at Collide Capital, will join Theo Ai’s board. The funds will be used to expand proprietary data pipelines, enhance legal corpus, and reinforce supervised learning with legal experts.

“The legal industry is at a turning point, and AI-powered predictions are becoming essential for managing client expectations and executive decision-making,” said Patrick Ip, Co-founder and CEO of Theo Ai. “With this investment, we will continue to develop the infrastructure that makes settlement predictions more precise and valuable for law firms and corporate legal teams.”

Theo Ai will use the new capital to accelerate product development, focusing on its AI-powered settlement prediction tools tailored for Big Law firms and General Counsels. The company is committed to building firm-specific prediction engines that leverage case history and proprietary data to provide actionable insights across a wider array of legal scenarios.

“The leadership team within Theo Ai continues to demonstrate a deep understanding of customer needs and the way advanced technology can reshape the legal field for decades to come” said Co-Founder and Partner at NextView, Rob Go. “this round came together very quickly because customers are quickly adopting what they see as a uniquely valuable solution."

“Theo Ai is transforming the way legal teams predict and manage settlements, and we are excited to back their next phase of growth,” said Aaron Samuels. “Having crossed paths with Patrick early in our respective founder journeys, it’s incredible to now collaborate in building the future of AI-driven legal intelligence.”

The funding round also marks a significant expansion of Theo Ai’s leadership team with the appointment of Jay Mandal as Chief Product Officer. A Stanford Law Lecturer and former COO at SAP, Mandal brings deep expertise in AI, enterprise technology, and legal innovation. He previously was the head M&A attorney at Apple and founded a legal tech company acquired by Rocket Lawyer. The company also welcomed Rob Martorana as Head of Partnerships. A former attorney with over 25 years in legal sales and marketing, including 12 years in litigation finance, Rob brings deep expertise across portfolio, single-case, and corporate monetization strategies. He most recently founded REMO Litigation Finance and served as SVP at Burford Capital.

Theo Ai’s seed round saw participation from all pre-seed investors, including nvp capital, Ripple Ventures, and Beat Ventures. The round also welcomed new investors Four Acres Capital and a distinguished group of angel investors from across legal, finance, and technology:

  • David Fox (Kirkland & Ellis)
  • Bo Berluti (RTP Global)
  • Ramesh Dhanaraj (ex-Fortress Investment Group)
  • Vivek Nasta (ex-Thomson Reuters)
  • Akash Garg (ex-Uber)
  • Art Calcagnini (ex-UBS)

Theo Ai initially launched by helping litigation funders optimize their investment decisions – recently partnering with Mustang Litigation Funding – and has rapidly expanded into serving Big Law and in-house legal teams. The strong market demand led to an oversubscribed seed round, reinforcing confidence in Theo Ai’s technology and vision.

With this latest funding, Theo Ai is poised to drive the future of AI-powered legal decision-making, delivering cutting-edge predictive solutions for the legal industry.

To learn more and join the waitlist for Theo Ai, visit: Theo Ai

About Theo Ai

Theo Ai is the first predictive engine designed by technical and legal professionals to forecast the outcome of legal disputes. Its AI models are trained on historical case data and incorporate real-time analytics with predictive modeling to deliver accurate and actionable insights. Theo Ai is meeting the most critical need for legal professionals - offering accurate case outcome predictions, backed by data. To learn more and join the waitlist for Theo Ai, visit: https://theoai.ai/#product

AALF Announces Completion of Template Insolvency Litigation Funding Agreement

By Harry Moran |

One of the common talking points at industry events is the need for increased standardisation in legal funding, with a set of agreed upon best practices often viewed as an important step forward for the maturation of the industry.

In a post on LinkedIn, The Association of Litigation Funders of Australia (AALF) announced that it has created and released a Template Insolvency Litigation Funding Agreement. AALF explains that the template is designed ‘to optimise efficiency for lawyers and insolvency practitioners involved in funded insolvency litigation’, providing a practical industry baseline for the use of such funding agreements in Australia. 

The ‘insolvency claim funding deed’ template as shown in the announcement offers a basic layout for the details of the funder, claimant, insolvency practitioner, and lawyers. The deed structure then outlines the following four key components that the deed will be comprised of: commercial terms, funding deed – general funding terms, definitions, and three annexures. The annexures include an insolvency practitioner’s report, a lawyer’s report, and a payment claim report for other funded costs.

AALF expressed its thanks to its members who contributed to the completion of this template with special thanks to the following individuals: Frances Dreyer (Johnson Winter Slattery), Doug Hayter (Ironbark Funding), Heather Collins GAICD (Court House Capital), Stuart Price (CASL), Lisa Brentnall (Clover Risk Funding), John Walker (CASL), Michelle Silvers (Court House Capital), and Kelly Trenfield (FTI Consulting).

The template can be viewed here, and AALF encourages any parties interested in using this resource to contact them.

International Legal Finance Association Adds Certum to Mark 30 Member Companies

By Harry Moran |

The International Legal Finance Association (ILFA), the only global association of commercial legal finance companies, announced that it has added its 30th member company to the association –Certum Group. 

Certum Group specializes in comprehensive alternative litigation strategies, such as litigation buyout insurance, judgment preservation insurance, litigation funding, class action settlement insurance, adverse judgment insurance, and claim monetization. The Texas-based Certum Group team includes litigation and insurance professionals along with risk mitigation specialists. 

“We are delighted to join ILFA and help it engage with policymakers interested in litigation finance,” said William Marra, a Director at Certum Group who leads the company’s litigation finance efforts. “Funding helps people and companies with strong legal claims get better access to the courts. We are excited to work with IFLA and ensure policymakers continue to encourage rather than restrict companies’ access to commercial legal finance.” 

“We’re delighted that Certum is joining ILFA’s growing membership”, said Rupert Cunningham, ILFA’s Global Director of Growth and Membership Engagement. “Certum already provides a lot of thought leadership on litigation funding and other matters, and they will make a great addition to ILFA’s work to support the sector in the US and globally.” 

About the International Legal Finance Association   

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 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 and find us on LinkedIn and X @ILFA_Official.

How to Build — and Sustain — a Powerhouse Legal Team

The following was contributed by Richard Culberson, the CEO North America of Moneypenny, the world’s customer conversation experts, specializing in call answering and live chat solutions.

Teams have the power to deliver sharper results, better service, and greater resilience. But how can we turn collaboration into a powerhouse — and keep it going?

As someone who leads a fast-paced customer conversations business, I know firsthand how critical strong teamwork is to delivering excellence, building trust, and staying competitive. While I don’t lead a law firm, I work closely with legal professionals across North America every day — and I’ve seen that the principles behind high-performing teams apply just as much in the legal sector as they do in tech.

At Moneypenny, we support thousands of law firms by providing virtual receptionists, client communication tools, and 24/7 support — so we understand the pressures legal teams face: high stakes, fast turnarounds, and a growing expectation for more responsive, more efficient service.

So, here’s the big question: how do you transform teamwork from something that gets things done to something that drives sustained excellence? 

Defining a Powerhouse Legal Team

We’ve all heard the phrase, “teamwork makes the dream work.” But in reality, that only holds true when the team is built and supported in the right way.  What really makes the difference is a powerhouse team – one that doesn’t just meet expectations but shapes them.

A legal team, like any tech or ops team is made up of specialists - attorneys, paralegals, and support staff. It's a collaborative unit aligned toward shared client outcomes — whether that’s winning a case, closing a deal, or shaping legal strategy. A powerhouse legal team, however, takes this a step further. It consistently delivers excellence, anticipates client needs, and influences firm-wide success.

This could be the litigation team that wins precedent-setting cases. The M&A group that closes complex deals under pressure. Or the in-house counsel team that protects and propels business strategy. Whatever the mission, a powerhouse team lead sthrough several key building blocks, and in my experience, they’re universal to all industries.

The Seven Pillars of a Powerhouse Team (Legal or Otherwise)

So, how do you build that level of excellence? It starts with people — the right people. In legal services, your people are your greatest asset. But it’s not just about legal acumen. They must align with your firm’s culture, values, and long-term vision.

Then, you build on these seven pillars:

1. Strong Legal Leadership

Every successful team needs a leader who can inspire and set a strategic course. Whether it’s a senior partner, practice head, or general counsel, their job is to elevate the team’s performance, foster a culture of accountability, and ensure alignment with both client goals and firm direction. Great leaders don't micromanage — they empower.

2. Shared Goals and Legal Vision

Powerhouse teams are unified by clear, shared goals. Everyone knows what success looks like and what’s expected of them — whether that’s billable hours, client feedback, or innovation in legal service delivery. When the entire team rallies around a common vision, alignment and momentum follow.

3. Diverse and Complementary Legal Expertise

No team succeeds when everyone brings the same strengths. The best-performing teams I’ve built include a mix of strategists, problem-solvers, doers and deep thinkers. The same principle applies in legal settings. Legal excellence requires more than technical brilliance in one area. It demands a combination of skills across disciplines. A litigation team thrives when trial lawyers, legal researchers, and case managers work seamlessly. In a corporate team, dealmakers, compliance professionals, and contract experts must collaborate. And just as important as functional skills is diversity of thought — bringing varied perspectives to legal problems leads to smarter, more creative outcomes.

4. Open and Effective Communication

In our world, communication is everything but that is true in all busines. Whether it’s delegating work, discussing a case strategy, or updating clients, effective communication prevents errors, builds trust, and enhances efficiency. I’ve found that when communication flows freely everything else works better. Egos stay in check, ideas get better and results speak for themselves.

5. Trust and Collaboration

A true team operates with mutual trust. Everyone understands their role, respects others’ and works to a shared goal. When legal professionals trust one another’s judgment, competence, and intentions, the team thrives. This trust allows lawyers to focus on their areas of expertise while relying on others to do the same. Collaboration becomes second nature, not forced. Roles are respected, workloads are balanced, and credit is shared. That kind of trust turns a good team into a powerhouse.

6. Adaptability and Resilience

Across the business landscape, we’re in a time when things change fast and the legal world is no different — new legislation, client demands, economic pressures. A powerhouse team responds with agility. They learn quickly, adjust strategies, and support each other during challenging cases or high-pressure deadlines. They don’t just survive stress — they strengthen through it.

7. Continuous Learning and Improvement

The best teams never stay still. Whether it’s staying ahead of regulatory changes, mastering new tech tools, or refining client service skills, powerhouse teams prioritize development. Mentoring, ongoing training, and regular performance feedback cultivate teams that evolve — not stagnate.

A commitment to continuous improvement sends a clear message: you believe in your team, and you’re investing in their growth. That, in turn, builds loyalty, engagement, and retention.

Final Thoughts

Whether you're building a tech team, a client success function, or a legal department, the fundamentals of a high-performing team remain the same. Great teams don’t just happen. They’re built with intent — with the right people, supported by the right culture, and driven by the right leadership.

When you get this right, the payoff is exponential. From more efficient operations to higher client satisfaction and better outcomes — powerhouse teamwork becomes a competitive advantage.

In any sector — and certainly in law — that’s a result worth striving for.

Claim Issued in Multi-Billion Pound UK Class Action Against Microsoft

By Harry Moran |

Alexander Wolfson, a highly experienced barrister of more than 25 years standing, has issued an opt-out class action claim against software giant Microsoft. He is issuing the claim on behalf of all UK-domiciled natural and legal persons (including public bodies) that purchased licences for certain specified Microsoft software products (including Microsoft Office and Windows). 

The claims allege that the software giant abused its market dominance and engaged in conduct that restricted competition to its new licences from pre-owned licences for Microsoft products. That conduct affected and inflated the prices of both new licences and pre-owned licences. 

The claim is one of the most significant class action cases currently underway in the UK, with a potential value reaching into the billions. 

Wolfson has retained the services of the Head of Competition at Stewarts, Kate Pollock, alongside partners Stuart Carson and Marc Jones (and others), and is instructing Counsel teams at both Monckton and Matrix Chambers, together with a team of experts to provide testimony on the economics of the case. The claim is funded by Harbour. 

Alex Wolfson, Proposed Class Representative, said: “Microsoft’s actions have had a significant and far-reaching impact on UK consumers, businesses and public bodies. This claim seeks to hold Microsoft to account and to secure compensation for the many affected members of the class. With billions of pounds potentially at stake, this case is about ensuring fairness in the digital marketplace and ensuring even the largest tech companies play by the rules.”

Kate Pollock, Head of Competition Litigation at Stewarts, said: “Microsoft’s conduct has had a profound and costly impact on millions of individuals and private and public sector organisations that rely on its software for daily business operations. We believe that Microsoft abused its market dominance by imposing restrictive licensing practices that effectively shut down competition and inflated prices. We’re proud to be supporting Alexander Wolfson in bringing this claim. With our specialist experience in complex competition litigation, we are well placed to help secure justice for the millions affected. This case has the potential to restore greater fairness and accountability to the UK’s increasingly digital economy.” 

Ellora MacPherson, Managing Director and Chief Investment Officer at Harbour, which is funding the case, said: “We are delighted to be able to support Alex Wolfson, Kate Pollock and the rest of the Stewarts team by funding this important case which will give access to justice to tens of thousands of individuals and public and private organisations in the UK. This action is likely to be one of the largest the UK has seen and is an example of how big corporate entities can be held to account.” 

For more information about the case, visit MicrosoftClaim.com

JustFund Expands Family Law Funding to New Zealand

By Harry Moran |

For litigation funders in their early years of growth post-founding, the ability to continue to raise capital and expand to new markets are often key signs of strengths in these businesses, as demonstrated by an Australian family law funder with its latest announcement.

In a post on LinkedIn, JustFund revealed that it has launched funding services for family matters in New Zealand, marking its first expansion outside of Australia since the funder’s inception three years ago. The announcement explained that JustFund is looking to support both lawyers who need support for their clients or an individual who needs the financial assistance to secure legal representation.

This expansion follows JustFund’s $92 million capital raise in November of last year, with the funds consisting of a combination of seed round financing, a senior debt facility, and additional mezzanine funding. At the time of the capital raise, JustFund said that in the two years since its founding it had provided more than $95 million in legal funding for family law cases, resulting in over $1 billion in relationship property settlements.

Andy O’Connor, co-founder and CEO of Just Fund, commented on the announcement saying, “It's been an incredible first week meeting with client-centric law firms looking to deliver solutions for their clients.” O’Connor also stated that JustFund is recruiting for its Auckland office to support this expansion, with the funder hiring for family lawyer and client experience positions.

More information about JustFund’s offering to New Zealand clients can be found on its website.

LCM Responds to Speculation Over Alleged Investigation 

By Harry Moran |

A statement released by Litigation Capital Management (LCM) offers a response to recent media speculation that the funder is facing a potential investigation by the office of the Dubai Public Prosecutor (DPP).

LCM’s statement is as follows: “The article states that the original complaint was made in 2022. The Company confirms that it has not been contacted by any legal authority, either historically or recently, in relation to the allegation. Furthermore, the Company does not believe any such allegation, were it to be made, would have any merit whatsoever. The Company is investigating further and will update the market as appropriate.”

The article that prompted LCM’s statement was published by Intelligence Online on 13 May, claiming that “the Dubai Public Prosecutor's office commenced a court-assisted investigation into LCM and its chief executive Patrick Moloney in March.” The headline of the article suggests that the investigation is a “money laundering probe”, with the DPP’s office reportedly “examining details from a complaint made in late 2022.

The full article available to Intelligence Online subscribers here.

Angeion Group Makes Significant Additions to its Board of Directors

By Harry Moran |

Angeion Group, a leading provider of legal notice and settlement administration services, today announced the addition of three independent members to its Board of Directors. This milestone underscores Angeion's strategic growth trajectory and commitment to strong governance, innovation, and operational excellence. 

The newly appointed board members are three highly accomplished executives whose leadership has shaped the modern legal and professional services industries: 

  • Rich Antoneck, Chief Executive Officer of Veritext Legal Solutions, leads the largest deposition and alternative dispute resolution firm in North America. Antoneck brings more than 20 years of private equity-backed executive leadership, including prior roles as CFO of Accuity Solutions and SourceMedia. 
  • David Perla, Vice Chair of Burford Capital, is a recognized innovator in legal services. Formerly President of Bloomberg Law and co-founder of Pangea3 (acquired by Thomson Reuters), Perla oversees policy, marketing, and industry engagement at Burford. 
  • Lou Andreozzi, former Chairman of Bloomberg Law and CEO of LexisNexis North American Legal Markets, is a legal tech pioneer. He has driven growth and product innovation at Martindale-Hubbell and continues to serve as a trusted advisor and board member across private equity and legal-tech ventures. 

"This board brings together an exceptional combination of legal acumen, business strategy, and operational expertise," said Lee Minkoff, Managing Director at Renovus Capital Partners, the private equity sponsor of Angeion Group. "Angeion is operating at the forefront of legal administration, and this step reinforces our confidence in the company's leadership, vision, and continued trajectory of operational excellence and growth." 

Our growth has always been fueled by bold thinking and relentless execution, and the addition of Rich, David, and Lou takes that to the next level," said Steven Weisbrot, President and CEO of Angeion Group. "Each has fundamentally shaped the way legal services are delivered - from litigation finance to legal tech and professional services at scale. Their insights will help us sharpen our strategy, deepen client impact, and push the boundaries of legal administration. 

About Angeion Group 

Angeion Group is an industry leader in legal notice and settlement administration, known for its use of technology, analytics, and hands-on client support to execute efficient, compliant, and effective legal administration services. With a proven track record in class action, mass tort, and bankruptcy administration, Angeion continues to redefine industry standards through precision, transparency, and innovation.

FORIS AG Reports Strong Market Interest in Litigation Financing Fund

By Harry Moran |

As LFJ reported in February, one legal funder in Germany is seeking to elevate its engagement in the country with a new fund that demonstrates significant ambition for the growth of litigation financing in this underserved market.

In an update posted by FORIS AG, the German litigation funder revealed that its FORIS Centris Litigation Financing Fund I has already attracted strong market interest from professional and institutional investors, allowing for case financing to begin. According to the post, the fund was already sufficiently capitalized in February to start backing lawsuits. FORIS AG launched this fund in partnership with Liechtenstein-based CAIAC Fund Management AG and Vienna-based Centris Capital AG.

Frederick Iwans, CEO of FORIS AG, said that the funder was confident it will be able to build on this momentum and reach the fund’s target of financing 20 to 25 cases within the next two years. Iwans also shed some light on the types of cases the fund was able to finance, explaining that FORIS AG had seen “a significant increase in financing requests or cases with amounts in dispute exceeding €50 million”. He also suggested that it was even possible for the fund to support cases above the €100 million threshold.

Michael Nagy, CEO of Centris Capital AG, said that he believes the fund has “hit a nerve” with the market and highlighted that they have already received twelve subscriptions to the fund. Nagy went on to explain that the uncorrelated nature of the litigation financing fund is particularly attractive to investors, given the ongoing turmoil in the stock market and the opportunity for these investors to diversify both their portfolios and risk profiles.

Bombay High Court Judgment Affirms Litigation Funding’s Legality in India

By Harry Moran |

Although the presence and visibility of legal funding in India is limited, a recent judgment re-affirming the legality of litigation funding will no doubt be seen as a positive sign for supporters of the nascent litigation finance market in the country.

An article on Verdictum covers a ruling in the Bombay High Court which affirmed that third-party litigation funding is neither illegal nor does it violate Section 23 of the Indian Contract Act. The judgment was handed down following the appeal of a decision in the City Civil Court which had quashed the amalgamation of two trusts, ruling that it was a matter of “champertous litigation” and was therefore prohibited by Section 23.

The background of the case begins with the Assistant Charity Commissioner’s approval of a 2005 amalgamation of the Rizvi Education Society and the Kailash Seva Sadan Trust, with the approval later being challenged by the Brihan Mumbai Municipal Corporation (BMC) in the City Civil Court.

In his judgment for the High Court, Justice Sharmila U Deshmukh found that it “cannot be countenanced that third party funding of litigation is per se illegal and violates Section 23 of Contract Act, apart from the fact that such contemplation is alien to an inquiry under Section 50A (2) of Trusts Act.” 

Whilst this ruling was focused on a specific case within the limited context of the amalgamation of these two trusts, the repeated affirmation of litigation funding’s legality in India is a welcome sight for funders considering expanding their services to this jurisdiction.

The full judgment by the High Court in Rizvi Education Society & Ors. v. The Brihan Mumbai Municipal Corporation & Ors can be read here

Toremis Speciality Launches Website and Legal Risk Services

By Harry Moran |

In January of this year, LFJ covered the launch of Legatus Holdings Limited, with the legal funding venture designed as a one-stop shop offering funding, legal services, insurance and claims acquisition under one umbrella organisation. Four months later, the insurance arm of this venture has launched its website and offered new insights into the legal risk services it will be offering.

In a post on Toremis Speciality’s website, CEO Nathan Hull introduced the new MGA business and provided an overview of its solutions and capabilities to the legal insurance market. Highlighting the company’s focus solely on legal related risks, Toremis will focus on delivering capabilities in after-the-Event (ATE), contingent risk, and tax liability insurance. Given Toremis’ ties to the other Legatus subsidiary companies (Asertis, KP Law, Cavis), Hull emphasised that the MGA also brings “strong, long-term capacity partners, that understand the space and are committed to its growth.”

Hull, whose involvement with Toremis was revealed at the time of the Legatus launch, brings a wealth of experience in legal insurance to his position as chief executive. Before taking on this new venture, Hull had spent the last five years as Head of Contingent and Litigation Risk Europe at VALE Insurance Partners.

Toremis’ website lists three executives in its senior leadership team, with Sam Tacey and Koosha Kowsari completing the trifecta alongside Hull. Tacey holds the position of Senior Partner, having joined the new venture from Acquinex where he served as Head of Contingent Risks and Claims. Kowsari is in post as the company’s Finance Director, building on a long career in finance and accounting, including his most recent role as Head of Insurance Finance at Marshmallow.

Legal-Bay Launches Innovative Attorney Case Cost Funding

By Harry Moran |

Legal-Bay Pre-settlement Lawsuit Funding, a longtime leader in presettlement and legal funding, has unveiled a new financing program designed to help attorneys cover the high costs of building and preparing cases for trial without relying on bank loans or credit lines.

Case costs can include everything from medical records to expert witnesses to life care plans to court fees. Legal-Bay's funding lessens the upfront financial strain by providing capital that's only repaid if the lawsuit is successful, and gives legal professionals fast, flexible access to extra money when they need it most. The program allows attorneys to secure resources for experts, depositions, court filings, and other necessary expenses without tying up firm assets or tapping into their own expense accounts.

Chris Janish, CEO of Legal Bay, says, "Legal-Bay's attorney or law firm case cost funding program is tailored to help small and medium firms get the ball across the goal line to win big cases. We are a resource for lawyers nationwide to utilize case cost funding when cash flow is tight, without long underwriting processes, credit checks or monthly payments.  Best of all, our non-recourse funding means you only pay if you win the case."

If you're a lawyer or law firm in need of extra case cost funding in advance of your case's anticipated settlement award, you can apply HERE or call: 877.571.0405

With nearly 20 years of experience in legal finance, Legal-Bay has earned the trust of thousands of attorneys and law firms across the country. The company's commitment to fast approvals, transparent terms, and case-first evaluations has made it a go-to resource for professionals seeking a smarter way to manage litigation costs.

Legal-Bay is one of the best legal funding companies in the industry, known for their helpful staff and quick turnaround. They fund almost every type of lawsuit including personal injury, slips and falls, sexual discrimination, assault, or abuse, motor vehicle accidents, wrongful incarceration, and more. While sometimes legal funding is referred to as loans on lawsuit or lawsuit loans, there are no credit checks or collateral required. The money is an immediate cash advance against a plaintiff's anticipated settlement award, not a conventional loan. The non-recourse lawsuit funding is risk-free, as the money doesn't need to be repaid should the recipient lose their case.

To apply right now, please visit the company's website HERE or call toll-free at: 877.571.0405 where agents are standing by to answer your questions.