Therium’s Financial Commitments To Access To Justice Causes Surpass £1.7m

By John Freund |

Jersey, 15th December 2020Therium Access, the not-for-profit arm of global litigation funder Therium Capital Management, has announced the recipients of its latest grant round. The Autumn 2020 grants have been awarded to six organisations and brings the total number of organisations receiving grants to 32 with over £1.7m committed since its inception in 2019.

The Autumn 2020 grant round remained focused on the issues exacerbated by the Covid-19 pandemic, with a focus on supporting work which is difficult to find funding for elsewhere, scalable delivery models, preservation of legal specialisation and work of strategic importance. Areas of law such as employment and housing were focussed on as these services face a huge surge in demand. Issues facing vulnerable young people were also prioritised.

As the Covid-19 pandemic continues into 2021, these organisations will continue to serve as a lifeline to the most vulnerable and marginalised in society. Additional grants have been awarded to two current grantees.

The recipients of the Therium Access Autumn 2020 grant round are:

  • Bristol Law Centre: The grant will increase capacity in employment and housing, enabling Bristol Law Centre to deliver a full service including complex advice and casework, in a wider geographical area without the limitations of Legal Aid work.
  • Child Poverty Action Group: The grant is for the continuation of funding for a solicitor in the charity’s strategic litigation team and other various costs as it continues to promote and protect the rights of children and families and maximise family incomes.
  • Legal Action Group: The grant is for a new Housing Possession Duty Desk: a practical guide. The Guide will provide a practical, accessible and affordable source of information for advisers at Housing Possession Court Duty Schemes.
  • Project for the Registration of Children as British Citizens: The grant is towards PRCBC’s core costs to support delivery of their pro bono strategic casework that ensures young people are aware of and able to exercise their rights to British citizenship.
  • South West London Law Centre: This grant will fund a Housing Court Crisis Navigator who will give practical help and support to deal with the underlying issues of people seen by their housing and debt teams in Croydon.
  • Youth Legal: The grant is for the salary and associated costs of a part-time Development worker to support Youth Legal’s vital work and to reach out to their communities, develop strong networks, and coordinate projects.

Jeunesse Mensier, Grant Programme Director at Therium Access, said: “Our Autumn 2020 grant round has again shown us the excellent and necessary work that organisations and individuals provide across the country in facilitating access to justice. We are so pleased to be supporting these six impressive and inspiring organisations which help some of the most vulnerable in our society in the areas of citizenship, employment and housing.”

Lord Falconer, Chairman of Therium Access Advisory Committee said“During such a difficult time, legal advice has never been more important. It’s so brilliant to see Therium Access lead the way and provide much-needed financial support to such worthy organisations that provide free legal advice to strive and reduce the ever-increasing justice gap. We look forward to seeing other funders follow suit.”

Solange Valdez-Symonds, Solicitor and Director of Project for the Registration of Children as British Citizens said: “PRCBC’s core activity is assisting, including by litigation, children and young people to secure their rights to British citizenship. This grant from Therium Access is vital for our continued ability to deliver on this – and not only to directly assist more children and young people. It enables us to bring our expertise and experience to bear in challenging the several injustices in policy and practice that deprive so many more children and young people of the security and recognition that is theirs by right through registration of citizenship. Thank you Therium Access.”

Louisa McGeehan, Director of Policy at Child Poverty Action Group said: Funding from Therium Access Fund for a further year will enable us to continue our award-winning work in ensuring low-income families have access to justice.  The need is greater than ever given the unprecedented number of families claiming universal credit as a result of the Covid-19 pandemic. renewed funding will help us in our ongoing work of ensuring that laws relating to social security entitlement are made and applied in compliance with fundamental rule of law requirements and that ordinary individuals will be able to hold the government to account when this is not the case.”

Applications for the Spring 2021 grant round will close on 15th April 2021 with priorities being confirmed in early 2021.

About Therium Access:

Therium Access is the primary expression of Therium’s corporate and social responsibility programme. Therium Access dispenses with the criteria of funding for profit and has the sole purpose of facilitating access to justice.  Therium Access is a mark of Therium’s wider commitment to the pursuit of justice and the rule of law.

Therium Access accepts applications from charities and other entities whose services and projects facilitate access to justice or from those seeking assistance to obtain legal representation on cases (including defence) which have strategic importance. The applicant’s need and the impact of the grant will be important factors in our review process. The deadline for the submission of the next round of grant applications is 15 April 2021. In addition, urgent applications may be considered on an ad hoc basis. Applications need to be made by legal representatives or the entity seeking a grant.  The board of Therium Access is assisted by an Advisory Committee which is chaired by Lord Falconer, former Lord Chancellor, Secretary of State for Constitutional Affairs and Secretary of State for Justice.

Therium Access aims to support access to justice in the broadest terms and considers applications that further the following causes (in no particular order):

  • The right to legal representation or due process;
  • The proper and efficient administration of justice;
  • The advancement of human rights;
  • The promotion of equality of rights and diversity;
  • The protection of children, the elderly, the disabled, minorities, asylum seekers and other vulnerable or disadvantaged groups;
  • The advancement of environmental protection or improvement;
  • The promotion of legal education that furthers the causes listed above; and
  • Any other case or project in which a person, group, or entity will not have access to justice without financial assistance.

Therium Access is intended to be a global initiative. Its initial focus is on the UK and it will be rolled out in other jurisdictions in a number of planned phases.

About Therium Capital Management:

Therium is a leading provider of investment capital to the legal industry and one of the largest, having raised over $1 bn since 2009.  With investment teams in the UK, USA, Australia, Germany and Norway, Therium has funded litigation and arbitration claims exceeding $40 billion including many of the largest and most high profile funded cases in the UK and internationally, including arbitrations under rules of the LCIA, ICC, UNCITRAL, LMAA, AAA, CIETAC, ICSID, Stockholm Chamber of Commerce and the Energy Charter Treaty.  Therium has been Top Ranked by Chambers and Partners and Leaders League with investment officers across the UK, Europe, USA and Asia Pac recognised as leading individuals in litigation finance.

Last year to mark the firm’s tenth anniversary, Therium Access was launched as a not-for-profit venture to fund a wide range of access to justice projects and cases – supporting the most vulnerable in our society and helping to bridge the widening justice gap. With its own board composed of eminent figures from the legal community and a dedicated grants officer, Therium Access has made over £1.7 m in financial commitments over the last 22 months to over 32 different organisations. As the first initiative of its kind, Therium has been shortlisted for several awards for launching this ground-breaking initiative, including the FT Innovative Lawyer Awards 2019, the Lexis Nexis Awards 2020 and The Lawyer Awards 2020.

Therium also invests in AI and software projects to accelerate the advancement of the industry. As a founding member of both the ALF, ILFA and the Litigation Funding Working Group, Therium is also committed to shaping the future of legal finance and setting high standards for the industry.

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Dr. Stephan Klebes Joins Deminor’s Hamburg Team To Expand Its Leading Position In The German Litigation Funding Market

By Harry Moran |

Deminor welcomes Dr. Stephan Klebes to the Hamburg team to expand its leading position in the German litigation funding market

Dr. Stephan Klebes adds experience and expertise in complex commercial disputes, investment recovery cases and antitrust actions to the Deminor team - especially in the fields of arbitration and capital markets law.

Deminor is pleased to announce the appointment of Dr. Stephan Klebes as Senior Legal Counsel. With the arrival of Stephan, a further experienced litigator joins the established team of Dr. Malte Stübinger (General Counsel Germany), Patrick Rode (Senior Legal Counsel) and Tim Willing (Senior Legal Counsel).

Dr. Stübinger commented on Stephan's arrival:

“With Stephan, we are gaining a highly qualified colleague with a broad legal background who will actively support our further growth in Germany and brings the Deminor mindset with him. An excellent addition to our team that emphasises our strong commitment to the German market.”

Stephan Klebes was admitted to the German Bar in 2021 and has broad experience in litigating and advising on cross-border disputes before international arbitral tribunals and state courts, with a particular focus on general commercial disputes and investment recovery cases. Prior to joining Deminor, he was an associate with the specialised litigation law firm Quinn Emmanuel where he represented companies in various types of arbitration proceedings, as well as complex investment recovery claims before state courts.

Erik Bomans, Chief Executive Officer, added:

“I wish to echo my colleagues' sentiments by congratulating Stephan on joining Deminor’s growing Hamburg team. Stephan’s wide-ranging legal expertise is a welcome arrival, and I am confident they will complement General Counsel Dr Malte Stübinger and his fellow Senior Legal Counsels. I look forward to his contribution to Deminor and our clients as we strengthen our position as a Chambers & Partners Band 1 Ranked provider of litigation funding solutions in Germany.”

Stephan Klebes studied law and economics at the University of Mannheim (LL.B., First State Examination) and the University of Cape Town, South Africa (LL.M. in Alternative Dispute Resolution). He then obtained his doctorate at the University of Osnabrück at the chair of Prof Dr Mary-Rose McGuire on an arbitration-related topic and completed his clerkship at the Higher Regional Court of Celle.

On joining Deminor, Stephan comments:

“I am delighted to be working with Deminor to further advance the field of litigation funding in Germany and Europe. The possibility of third-party financing of litigation and arbitration still has a lot of potential. Deminor will certainly be able to further expand its leading role in the German market on the basis of its strongly value-based approach. It is a great pleasure for me to be able to contribute to this mission.”

Dr. Klebes was recognised by Best Lawyers in the category "Ones to Watch 2024" in the field of Arbitration and Mediation.

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Clio Announces US $900M Investment at US $3B Valuation to Transform the Legal Experience For All

By Harry Moran |

Clio, the global leader in legal technology, announced it has raised US $900 million, based on a US $3 billion valuation, in a Series F investment round led by New Enterprise Associates (NEA). The round also includes new partners Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, and Tidemark, who join current investors TCV, JMI Equity, funds and accounts advised by T. Rowe Price Associates, Inc. and by T. Rowe Price Investment Management, Inc., respectively, and OMERS. Marking a new era in its growth journey, Clio will continue to expand its multi-product platform, including further investments in its burgeoning AI portfolio and integrated legal payments. It will also accelerate its rapid market expansion upmarket and internationally, deepening its organic growth to more than 130 countries across the globe.

For 16 years, Clio has been at the forefront of creating innovative, cloud-based solutions tailored to the unique needs of the legal industry. Clio is the operating system for law firms, powering every aspect of the legal process. It simplifies law firm management by centralizing client intake, case management, document management, legal payments, and more. With more than 250+ legal technology software integrations, Clio is also the world’s largest legal technology platform, endorsed by more than 100 law societies and bar associations worldwide, including all 50 state bar associations in the United States.

“This historic raise was heavily oversubscribed, further demonstrating the overwhelming demand and confidence in Clio’s future,” said Jack Newton, CEO and Founder of Clio. “I’m thrilled to embark on this journey with NEA and our group of exceptional investors. The Clio operating system is the undisputed platform of the legal technology sector, engineered to not only meet but anticipate future industry demands. We are pioneering this future for our customers, driven by our mission to transform the legal experience for all. Our commitment to delivering unparalleled value propels every decision we make, and we are inspired by the massive opportunities ahead.”

Tony Florence, Co-CEO at NEA, has joined Clio’s Board of Directors. Mr. Florence commented, “Clio embodies everything NEA looks for in a growth-stage investment: an exceptional, purpose-driven team, market and product leadership, and stellar business physics. Clio is mission critical to law firms, and the company’s best-in-class retention and NPS are testaments to the team’s ability to continuously innovate, deliver immense value, and meet the dynamic needs of the legal sector. With the right foundation in place for continued market expansion and advanced AI capabilities, we believe the best is yet to come. We look forward to applying NEA’s company-building expertise to partner with Jack and the Clio team on their next phase of growth.”

Clio raised its Series E funding in April 2021, a US $110M growth equity round. Since then, Clio has grown its revenue beyond US $200M ARR and has expanded internationally to the APAC region, as well as upmarket to become the leader in mid-market cloud legal practice management software, serving more than 1,000 mid-sized firms in the United States alone. Clio’s all-in-one payments business has skyrocketed since its launch in 2022, now processing billions of dollars annually in legal-specific transactions. Additionally, Clio’s platform has been expanded to include: 

  • Clio Duo proprietary generative AI solution to help lawyers complete routine tasks, and leverage their firm analytics to run a more efficient practice; including audit log functionality for court discovery (available in 2024)
  • Clio Accounting to manage firm finances in one system of record, designed to help keep law firms compliant
  • Module for personal injury lawyers with distinct litigation needs, and procedures for medical recordkeeping, this add-on offers rapid settlement estimates for high volume case assessments
  • Clio Draft intelligent document automation and court form libraries in 50+ jurisdictions
  • Electronic court filing services available directly in Clio to streamline court interactions
  • Legal Aid and nonprofit grant billing models, eligibility calculators, and dashboards
  • Google Local Service Ads directly embedded in the Clio platform to generate, screen, and intake local leads

“While we’re immensely proud of our growth to date, the real opportunity lies ahead of us,” continued Newton. “AI is ushering in an exciting and important new era for legaltech, and Clio is leading that transformation. There’s much to accomplish for the success of our customers so they can thrive in an economy that embraces technology in every interaction.”

Clio has more than 1,100 employees located across hub locations in North America, EMEA, and APAC regions. The company is actively hiring across all areas of its business including product, R&D, sales, marketing, and customer success.

Law firms Osler, Hoskin & Harcourt LLP and Wilson Sonsini Goodrich & Rosati served as legal counsel to Clio. William Blair acted as Clio’s exclusive financial advisor.

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Leading European Finance Firm Nera Capital to Fund €1 Billion Truck Cartel Class Action

By Harry Moran |

A prominent European finance company has announced it will be funding over 25,000 claims in a €1 billion class action against truck manufacturers, who were part of a price-fixing cartel.

Nera Capital, which has offices in Manchester, Dublin and The Netherlands, is focussing exclusively on group redress claims, helping consumers and small to medium sized businesses, fight for justice against antitrust behaviour by corporates.

In 2016, the European Commission found MAN, Volvo/Renault, Daimler, Iveco, and DAF broke European Union antitrust rules by colluding on truck pricing and on passing on the costs of compliance with stricter emission rules from 1997 to 2011.

The Commission imposed a record €2.93 billion fine on the manufacturers, except MAN as it revealed the existence of the cartel. All companies acknowledged their involvement and agreed to settle the case.

Speaking about this historic class action, Nera Capital Director, Aisling Byrne, said this investment will ensure truck owners receive justice for the damage the 14-year cartel caused. "The agreements covered both medium-duty trucks and heavy-duty trucks and affected the entire European Economic Area. While the cartel stopped running in 2011, the after affect was felt by truck owners in the following years, and it is important that those affected get their chance for justice.”

Nera Capital has appointed a leading German law firm to act for the claimants in the case.

When the European Commissioner for Competition Margrethe Vestager handed down the historic fine in 2016, she said it was not acceptable that the manufacturers were part of a cartel instead of competing with each other. In 2016 she commented on the more than 30 million trucks on European roads, which accounted for around three quarters of inland transport of goods in Europe, playing a vital role for the European economy.

Ms Byrne echoed these comments and said the firm's success is built through its strong industry relationships and a passion for justice. “This is a pivotal moment for corporate accountability,” she added. “Our investment underscores our commitment to supporting small businesses and consumers who have been impacted by antitrust violations. With a strong track record of committing over £475 million, in aggregate, into claims, we are excited to offer our support to truck owners across Europe, because we believe justice should be accessible to all. Nera Capital stands firm in its mission to level the playing field against corporate misconduct. This class action is not just about compensation but also about holding accountable those who undermine fair competition."

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 The Netherlands.

.     Member of European Litigation Funders Association.

.     www.neracapital.com

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