On 1 May 2015, leading litigation funders Therium Capital Management Limited ("Therium") announced a market-transforming £200 million private fundraising to invest in the costs of large-scale commercial litigation, group litigation and arbitration globally. The fundraising is believed to be the largest single investment in litigation funding to date.
Bedell Cristin's Jersey office acted as the Jersey law advisers to Therium, advising on all Jersey corporate and regulatory aspects of the fundraising, including the utilisation of a Jersey-incorporated cell company and its cells and the creation of Therium Group Holdings Limited, the new Jersey-based parent of Therium.
Third party litigation funding enables cases to proceed that might not otherwise be pursued due to lack of funding. Litigants enter into an agreement for funding with a private commercial litigation funder, who receives an agreed share of the proceeds of the claim if it is successful. If the claim is unsuccessful, there is no further obligation.
Simon commented: "Bedell Cristin was pleased to be able to assist Therium with this landmark fundraising. Calling for specialist and practical corporate and regulatory advice, this is just the sort of work that we excel in."