Lexolent Litigation Fund 1 SP Achieves First Successful Investment Conclusion, Delivering Access to Justice in Landmark DIFC Case
Lexolent Litigation Fund 1 SP, the inaugural fund from litigation funding disruptor Lexolent, and the first litigation fund to be based in the UAE, has achieved its first successful investment in a case litigated before the Dubai International Financial Centre (DIFC) Courts. The matter—Claim No. CFI 081/2023, concerned an unpaid commission claim by Dubai based businessman, Michael Forbes.
Absent Lexolent’s funding, Mr Forbes would have been unable to pursue the case and secure the payment to which he was rightfully entitled. The investment, which was concluded over just 21 months, will generate a very high internal rate of return (IRR) for Lexolent’s Limited Partner (LP) investors, showcasing the fund’s ability to deliver both strong financial performance and tangible social impact.
The result was a resounding success for both parties. Lexolent secured a strong return on its investment, while Mr Forbes obtained a substantial and life-changing judgment in his favour.
“Without Lexolent’s help, I would not have been able to right the wrong that was done to me,” said Mr Forbes. “Lexolent gave me access to justice, and I am delighted to have been introduced to them. I have learned through this experience that not all litigation funders are the same. Nick Rowles-Davies is very much one of the original founders of this industry and is exceptionally easy to work with. His expertise and experience made this transaction straightforward and highly professional.”
Lexolent CEO, Dr Nick Rowles-Davies, commented: “This is a perfect example of litigation funding in action. Without our investment, Mr Forbes would not have been able to secure such a substantial and transformative judgment. It was our pleasure to assist him—and, from our perspective, it was also a very strong investment, particularly given the high IRR that will be achieved for our LPs over a short 21-month period.”
This first win for Lexolent Litigation Fund 1 SP marks a significant milestone for the company as it continues to reshape the litigation finance landscape both in the Middle East and globally. The case underscores the vital role litigation funding plays in levelling the playing field between claimants and well-resourced defendants, ensuring that justice is not a privilege but a right accessible to all.
Syed Mujtaba Hussain, founding partner of UAE based boutique law firm Emirates Legal, acted for Mr Forbes and instructed David Parratt KC and William Frain-Bell KC.
Mr Hussain commented: “This was the first time I have used litigation funding but I will certainly do so again. Lexolent were easy to work with and allowed the lawyers to do their job without concern over fees being met. Litigation funding is a valuable tool and it assisted in producing a great result for Mr Forbes. We are all delighted with the outcome.”
About Lexolent:
Lexolent is a globally coordinated network for legal finance professionals and the first litigation fund to be based in the UAE, offering innovative funding solutions and unmatched expertise in litigation finance. Led by industry pioneer Dr Nick Rowles-Davies, Lexolent connects capital providers with high-value legal claims, delivering results for claimants and investors alike.
