Trending Now
Announcements Commercial Deals

Slater and Gordon Agree to £33MM Committed Facility with Harbour

Leading UK consumer law firm Slater and Gordon has agreed a £33 million committed facility with litigation funder and lender to law firms, Harbour, in what is believed to be one of the largest lending deals in the sector this year.

Slater and Gordon firm will use Harbour’s capital to invest in developing its consumer legal services teams, and to fund a substantial book of clinical negligence and other personal injury claims, consistent with its strategy to be one of the UK’s leading provider of personal injury and related services.

Harbour is the world’s largest privately owned litigation funder. Through its increasingly close strategic relationships with law firms, Harbour has broadened its investment appetite over the last 18 months to include the provision of lending and credit facilities to law firms, supporting them in the execution of their growth plans.  Unlike some traditional lenders, funds can be used for multiple purposes, which gives the leaders of multi-strategy law firms flexibility in executing projects involving multiple workstreams or multiple practice areas.

Nils Stoesser, Chief Executive Officer of Slater and Gordon, said: “The ethos of the entire Slater and Gordon team is to support our clients by delivering an exceptional service across a whole range of consumer law issues.  We have been looking for a financial partner to help us capitalise on the next stages of the firm’s growth, and we are we are delighted to have Harbour’s support and confidence in our future.”

Elizabeth Comley, Chief Operating Officer of Slater and Gordon, said: “The facility we have agreed with Harbour gives us access to stable capital over several years which we can use to make substantial investment in our core consumer legal services businesses.  We have big growth ambitions for our personal injury, clinical negligence, and other practice areas, where we know we have a competitive advantage. This new facility allows us to realise those ambitions, and in Harbour we’ve found a natural partner who really understand the needs and business of law firms.”

Ellora MacPherson, Managing Director and Chief Investment Officer at Harbour, added: “Harbour is pleased to be supporting Slater and Gordon with this new credit facility. We are excited about their future growth plans as reflected by this significant investment.  We look forward to our partnership together.”

Harbour has recently provided credit facilities to Bamboo Group and to Rothley Law.  A team from FRP Advisory led by Andrew Dimmock were instructed by Slater and Gordon to assist with sourcing a debt facility.

Slater and Gordon’s previous working capital facility from VFS Legal is now replaced by this facility from Harbour.

About Slater and Gordon

Slater and Gordon is one of the UK’s largest law firms. With a team of highly skilled and experienced lawyers, paralegals, medical experts, rehabilitation co-ordinators and support staff, Slater and Gordon provide comprehensive legal services across a number of specialties.

Headquartered in Manchester with 11 offices across the UK, Slater and Gordon specialises in consumer legal services, including serious injury, clinical negligence, abuse law, court of protection, employment and family law matters.

Slater and Gordon has been recognised by multiple independent legal guides such as Chambers and Legal 500 and is highly specialised in representing individuals who’ve been affected by life-changing and serious injuries.

About Harbour

Harbour is the world’s largest privately owned litigation funder, which now also lends and provides credit facilities to law firms. Since launching in 2007, the business has been at the forefront of the growth and development of the global funding market. In the summer of 2023 it also announced facilities for Rothley Law and Bamboo Legal Services.

Headquartered in London, the business funds cases across the globe ranging from one-off disputes valued from circa. £1m to portfolios of multi-million-pound cases, as well as loans and credit facilities for law firms with no upper limit.

Harbour is a founder member of the Association of Litigation Funders (ALF), a member of the International Legal Finance Association (ILFA).

Ellora MacPherson is Managing Director and Chief Investment officer.

Announcements

View All
Announcements Case Developments Commercial

Australian Google Ad Tech Class Action Commenced on Behalf of Publishers

By Harry Moran |

A class action was filed on 16 December 2024 on behalf of QNews Pty Ltd and Sydney Times Media Pty Ltd against Google LLC, Google Pte Ltd and Google Australia Pty Ltd (Google). 

The class action has been commenced to recover compensation for Australian-domiciled website and app publishers who have suffered financial losses as a result of Google’s misuse of market power in the advertising technology sector. The alleged loss is that publishers would have had significantly higher revenues from selling advertising space, and would have kept greater profits, if not for Google’s misuse of market power. 

The class action is being prosecuted by Piper Alderman with funding from Woodsford, which means affected publishers will not pay costs to participate in this class action, nor will they have any financial risk in relation to Google’s costs. 

Anyone, or any business, who has owned a website or app and sold advertising space using Google’s ad tech tools can join the action as a group member by registering their details at www.googleadtechaction.com.au. Participation in the action as a group member will be confidential so Google will not become aware of the identity of group members. 

The class action is on behalf of all publishers who had websites or apps and sold advertising space using Google’s platforms targeted at Australian consumers, including: 

  1. Google Ad Manager (GAM);
  2. Doubleclick for Publishers (DFP);
  3. Google Ad Exchange (AdX); and
  4. Google AdSense or AdMob. 

for the period 16 December 2018 to 16 December 2024. 

Google’s conduct 

Google’s conduct in the ad tech market is under scrutiny in various jurisdictions around the world. In June 2021, the French competition authority concluded that Google had abused its dominant position in the ad tech market. Google did not contest the decision, accepted a fine of €220m and agreed to change its conduct. The UK Competition and Markets Authority, the European Commission, the US Department of Justice and the Canadian Competition Bureau have also commenced investigations into, or legal proceedings regarding, Google’s conduct in ad tech. There are also class actions being prosecuted against Google for its practices in the ad tech market in the UK, EU and Canada. 

In Australia, Google’s substantial market power and conduct has been the subject of regulatory investigation and scrutiny by the Australian Competition and Consumer Commission (ACCC) which released its report in August 2021. The ACCC found that “Google is the largest supplier of ad tech services across the entire ad tech supply chain: no other provider has the scale or reach across the ad tech supply chain that Google does.” It concluded that “Google’s vertical integration and dominance across the ad tech supply chain, and in related services, have allowed it to engage in leveraging and self-preferencing conduct, which has likely interfered with the competitive process". 

Quotes 

Greg Whyte, a partner at Piper Alderman, said: 

“This class action is of major importance to publishers, who have suffered as a result of Google’s practices in the ad tech monopoly that it has secured. As is the case in several other 2. jurisdictions around the world, Google will be required to respond to and defend its monopolistic practices which significantly affect competition in the Australian publishing market”. 

Charlie Morris, Chief Investment Officer at Woodsford said: “This class action follows numerous other class actions against Google in other jurisdictions regarding its infringement of competition laws in relation to AdTech. This action aims to hold Google to account for its misuse of market power and compensate website and app publishers for the consequences of Google’s misconduct. Working closely with economists, we have determined that Australian website and app publishers have been earning significantly less revenue and profits from advertising than they should have. We aim to right this wrong.” 

Class Action representation 

The team prosecuting the ad tech class action comprises: 

  • Law firm: Piper Alderman
  • Funder: Woodsford
  • Counsel team: Nicholas de Young KC, Simon Snow and Nicholas Walter
Announcements Consumer

Rockpoint Legal Funding Shines at Consumer Attorneys of California Annual Convention

By Harry Moran |

Rockpoint Legal Funding proudly participated in the annual conference hosted by the Consumer Attorneys of California (CAOC), showcasing its commitment to supporting legal professionals and their clients. As the only funding company endorsed by CAOC, Rockpoint Legal Funding leveraged this premier event to connect with new and prospective partners reinforcing its position as a trusted funder within California's legal community.

The CAOC is a prestigious network of attorneys dedicated to protecting the rights of California consumers. Each year, the organization hosts its annual convention, bringing together some of the brightest legal minds and innovators in the industry. For Rockpoint Legal Funding, this event was an invaluable opportunity to demonstrate its unwavering dedication to empowering attorneys and their clients through tailored legal funding solutions.

During the convention, Rockpoint operated a booth where team members engaged with attendees, offering insights into the company's services and how they benefit both legal professionals and consumers seeking justice. From new attorneys looking for funding solutions to established firms aiming to streamline their case workflows, Rockpoint provided personalized advice and showcased its comprehensive suite of legal funding options.

"Rockpoint is proud to partner with the Consumer Attorneys of California. We take a lot of pride in serving the attorneys and their clients of this prestigious organization," said Ramtin Ghaneeian, Founding Partner of Rockpoint Legal Funding. His statement highlights the company's commitment to strengthening its collaboration with CAOC and continuing to support its mission of safeguarding the rights of California consumers.

President of Rockpoint Legal Funding, Maz Ghorban, emphasized the value of building strong relationships at events like this, stating, "It's a privilege to connect with our law firm partners at the CAOC convention each year while ensuring our values align with protecting California consumers through legal recourse."

Rockpoint's presence at the CAOC annual convention underscores its dedication to fostering meaningful connections within the legal community. By being the only CAOC-endorsed funding company, Rockpoint reinforces its credibility and reliability in the legal funding landscape. This endorsement is a testament to Rockpoint's shared vision with CAOC in championing consumer rights and providing critical support to those navigating the justice system.

For attorneys and law firms, Rockpoint Legal Funding offers a variety of non-recourse funding solutions, ensuring clients have the financial support they need during ongoing litigation. This commitment aligns perfectly with CAOC's mission to advocate for justice and fairness for California consumers.

As Rockpoint continues to deepen its relationships with legal professionals, events like the CAOC annual convention remain a cornerstone of its outreach efforts. The company looks forward to future collaborations and furthering its impact within the legal community.

For more information about Rockpoint Legal Funding and its services, visit Rockpointlegalfunding.com or call (855) 582-9200.

About Rockpoint Legal Funding

Rockpoint Legal Funding is a leading provider of non-recourse legal funding solutions, serving attorneys and their clients with unparalleled expertise and care. With a mission to empower justice and support favorable case outcomes, Rockpoint is committed to providing financial assistance during critical times, ensuring no one is denied access to legal recourse due to financial constraints.

Announcements Commercial Fundraising

Nera Capital Secures Additional $25 million in New Funding Deal

By Harry Moran |

Top litigation finance firm Nera Capital is ending the year on a high with the announcement of yet another successfully closed funding deal, this time securing $25 million to bolster UK consumer protection claims.

The funding, secured through a US-based investment partner, reflects yet another significant milestone for the firm as it continues to build momentum and strengthen its foothold in the market. 

This recently closed funding deal builds on a prosperous year of growth for Nera Capital, further demonstrating its capabilities across the globe. The investment will be directed towards advancing claims that protect UK consumers, enabling greater access to justice for individuals seeking redress.

With offices in Dublin, Manchester, and Amsterdam, Nera Capital has consistently demonstrated its commitment to driving innovation and impact in litigation finance worldwide. This latest funding announcement underscores Nera Capital’s ability to forge strategic international partnerships that deliver meaningful results. 

In 2024, Nera have hit record numbers of settlements, deployment and company profitability but also grown major portfolio positions in Europe and the USA.

Aisling Byrne, Director at Nera Capital, commented on the announcement: “We are happy to have closed yet another significant funding deal, further cementing our position as a leading force in consumer protection litigation. We anticipate this initial facility figure will increase as our partnership strengthens and thrives over time.

She added: “This is not just about financial growth; it’s about expanding our ability to make a difference. With this funding, we are reinforcing our commitment to fairness and justice, empowering consumers, and holding organisations accountable.”

The announcement follows the recent launch of Nera Capital’s £250,000 Access to Justice Fund, aimed at providing legal and financial support to those who may otherwise face barriers to justice.

The firm’s efforts come at a time of heightened focus on consumer rights across the world, driven by evolving legal frameworks, increased attention to data privacy, and growing concerns about sustainability and corporate accountability.

“This funding is another step forward in a year of tremendous progress for Nera Capital,” Aisling continued.

“As we look to 2025, we remain committed to leveraging our resources and expertise to protect consumers and advocate for justice on both sides of the Atlantic.“ 

About Nera Capital 

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

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

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

·       Member of European Litigation Funders Association

.     www.neracapital.com