Therium Capital Management, a leading provider of litigation finance globally with over $800 million of assets under management, announced today that it is planning to launch a full service offering in Australia on 1 January 2019. Therium Australia will be based in Melbourne. Founded in 2009, Therium Capital Management is one of the largest and most established litigation financing firms in the world. The firm has funded claims valued at $36 billion.
Therium’s full service operations in Australia will be headed by Simon Dluzniak, an experienced litigation funding professional, who has worked in the industry in both Australia and the UK since the early 2000’s.
Within Australia, Therium will finance class actions and general commercial, insolvency and arbitration claims. Therium Australia will also seek to develop the country’s emerging corporate funding and portfolio funding markets. Outside of Australia, Therium Australia will look to fund arbitration claims in Hong Kong and Singapore, both of which are emerging markets for litigation finance.
Therium has funded claims in Australia since 2011 and is currently funding high profile shareholder class actions against financial services firms AMP Ltd and Commonwealth Bank of Australia Ltd, as well as delivery management software company GetSwift Ltd.
Neil Purslow, Co-Founder and Chief Investment Officer of Therium, will be speaking about litigation funding at a Herbert Smith Freehills class action panel in Melbourne on 17 October. He said: “We know the Australian litigation funding market well as we have been active in the country for several years. We are seeing a healthy demand for our services across a range of litigation areas and industries in Australia, so it is the natural moment for us to open an office in the country.
“The market in Australia for litigation funding of class actions, general commercial cases and insolvency matters is both well-established and currently very buoyant. There is also a very substantial opportunity for Australian corporates to use funding as a form of off balance sheet finance, and for us to also provide portfolio funding to them – and the law firms that act for them. Both of these are established funding practices in the UK and the USA.”
Therium has operations across Europe, including in the UK, Germany, Italy, Spain and Scandinavia, and in the USA. Therium was the first commercial litigation funder to be have operations on the ground in Germany and Scandinavia and it was the first European firm to launch a full service business in the USA.
Litigation funding allows individuals and companies to take on litigation and arbitration cases that they might not otherwise be able to afford, and/or to hedge the costs and risks involved in such matters. Therium pays for all of the costs, including adverse costs in the event that the case is lost, and only receives payment if the case is won.