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Phi Finney McDonald launches in London

Phi Finney McDonald, a specialist collective action law firm, are launching an office in London. With offices currently in Melbourne and Sydney, Australia, Phi Finney McDonald has an unparalleled reputation for driving competition and innovation in the Australian class action and litigation funding markets. Its repeat clients include some of the largest and most influential pension schemes, private investors, sovereign wealth funds, and investment platforms across the Asia Pacific, North America and Europe.

The London office will open in November 2020. Led by Head of UK Chris Haan and Directors Odette McDonald and Tim Finney, the London office will bring to the UK not only the wealth of experience Phi Finney McDonald have in collective action litigation but also their unique ethos and strong social conscience that influences every aspect of the practice. In addition to securities claims, PFM has deep experience in institutional abuse claims, product liability litigation, and data protection and privacy. It also has in-house forensic accounting and data science capabilities, providing an innovative and cost-effective approach to legal problem solving.

Phi Finney McDonald UK will be headed by Chris Haan, a collective actions specialist formerly of Leigh Day. Dual qualified as a solicitor in England and Wales and Australia, Chris has over 15 years of litigation experience, over 10 of which are which have been in London focusing on collective redress. His wide experience includes collective actions in the areas of investment and financial product fraud and mis-selling, competition and cartels, mass torts, product liability, employment, building and construction, environmental and human rights. He conducted the first opt-out competition law class action in the UK and his cases have included some of the most significant group actions in the UK.

Chris Haan, Head of PFM UK comments, “PFM will perform top-quality legal work for our clients on cases that hold powerful interests to account. We will distinguish ourselves in London through our use of technology and innovative litigation funding structures, offering clients higher quality, more efficient and cost-effective legal services.”

“Institutional investors who have experienced our strong track record will see the strengths we will bring to the London market,” he added.

In addition to offering the opportunity to work on high profile and cutting-edge litigation, PFM will also distinguish itself as an employer of choice.

Odette McDonald, PFM UK Director comments, “We want to build a vibrant and diverse team of brilliant lawyers who have business acumen, but who are also committed to making the world a better place. Our values and our culture are at the heart of our success. That means a fun and dynamic working environment that encourages autonomy and creativity, one that is unshackled by billed hours targets.”

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Golden Pear Upsizes Corporate Note to $78.7M Amid Growth Plans

By John Freund |

Golden Pear Funding has extended and upsized its investment-grade corporate note to $78.7 million, further bolstering the firm's capacity to serve the expanding litigation finance sector. The New York-based funder, a national leader in both pre-settlement and medical receivables financing, said the proceeds will support working capital and fuel strategic growth initiatives.

A press release from Golden Pear outlines how the capital raise reflects continued investor confidence in the firm’s business model. CEO Gary Amos noted that the infusion is critical as Golden Pear seeks to scale alongside the “rapidly expanding litigation finance market.” CFO Daniel Amsellem added that the new funding aligns with the company’s capital allocation strategy, aimed at optimizing operational efficiency and executing strategic projects.

Brean Capital, LLC acted as the exclusive financial advisor and sole placement agent on the transaction.

Founded in 2008, Golden Pear has funded more than $1.1 billion to over 87,000 clients and remains one of the largest specialty finance companies in the U.S. Its business model spans legal case funding and medical receivables purchasing, with backing from a network of private equity partners that provide institutional support for continued expansion.

LionFish Updates Model Documents in Response to CJC Report

By John Freund |

LionFish Litigation Finance Ltd has released a new suite of model litigation funding documents, updating its original set from February 2021. The revision comes on the heels of the Civil Justice Council's (CJC) Final Report on Litigation Funding, issued on 2 June 2025, which calls for a regulatory structure informed by best practices, including key principles published by the European Law Institute (ELI) in October 2024.

A LionFish press release details that the updated suite incorporates several of the ELI Principles (notably 4-12) and broader CJC recommendations, except where doing so would require legislative or procedural reform. LionFish's goal, according to Managing Director Tets Ishikawa, is not to dictate market norms but to foster industry-wide standardisation and efficiency. This proactive move is also intended to spark further collaboration between funders, insurers, and legal practitioners to develop trade practices akin to those in mature financial markets, such as those promoted by the Loan Market Association and the International Swaps and Derivatives Association.

The new suite includes three core documents: a litigation funding agreement, a priorities deed to define proceeds distribution, and an assignment deed for insurance benefits. Notably, LionFish has also added documentation for co-investment arrangements, reflecting a growing trend in syndicated funding deals. The funder has already closed seven such transactions.

Managing Director Tanya Lansky emphasised that while litigation funding remains complex, making documentation public enhances transparency and facilitates quicker deal closings—an essential factor for sustaining market growth.

As litigation finance continues to mature, this move by LionFish highlights a shift toward professionalisation and standardisation. With regulators increasingly focused on transparency and fairness, such initiatives may set a de facto benchmark for others in the industry. The question remains: will other funders follow suit, or will regulatory mandates be needed to compel alignment?

Backlit Capital Solutions Launches Legal Finance Consultancy

By John Freund |

Backlit Capital Solutions has announced the launch of its full-service legal finance consultancy. The firm aims to provide comprehensive funding solutions for legal claims, offering services that include litigation finance, arbitration funding, and judgment enforcement strategies.

An article in PR Newswire states that Backlit Capital Solutions is positioning itself as a comprehensive provider in the legal finance sector, aiming to serve a diverse clientele that includes claimants, law firms, lenders, and investors. The firm's service offerings encompass litigation finance, arbitration funding, and judgment enforcement strategies, indicating a broad approach to legal funding solutions.

The launch of Backlit Capital Solutions reflects a growing trend in the legal finance industry, where firms are expanding their services to address the multifaceted needs of legal claimants and their representatives. By offering a suite of services under one roof, Backlit Capital Solutions aims to streamline the funding process and provide tailored solutions to its clients.

As the legal finance landscape continues to evolve, the entry of firms like Backlit Capital Solutions underscores the increasing demand for specialized financial services in the legal sector. Their comprehensive approach may set a new standard for how legal finance consultancies operate, potentially influencing the strategies of existing and emerging players in the market.