A litigation funder launched this week is to use artificial intelligence to carry out a risk analysis of the small to medium-sized claims it intends to back.
Litigation funder Therium has raised record new backing of £325m as demand for finance continues to grow. We also round up other industry news, including funders opening offices in Israel and Canada.
Insolvency litigation funder Manolete Partners plc has seen its share price more than double in just three months of being a public company, as interest in its offering has “gone bananas”.
Third-party funder Burford Capital described itself today as “the legal profession’s investment bank” as it recorded a 24% increase in net profit after tax to $328m. It has also re-entered the ATE market.
Third-party funder Therium has launched a ground-breaking £1m fund to provide not-for-profit litigation funding in order to facilitate access to justice, supported by former Lord Chancellor Lord Falconer.
Australian litigation funder LCM – which listed in London late last year and brought a UK-based team on board – has announced strong half-year results. Its shares jumped 18% on the news.
Two law firms and a litigation funder have joined forces to bring a £93m opt-out collective action on behalf of “millions” of passengers who they say have paid twice for part of their train journeys around London.
A specialist shareholder action funder is to back a £400m claim being prepared against oilfield service company Petrofac arising out of an alleged bribery scandal.