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Therium Launches in U.S. to Meet Increasing Demand for Litigation Funding

April 20, 2016, 07:22 AM
Filed Under: Industry News

Therium Group Holdings Limited, a leading provider of litigation financing with over $300 million in committed capital, announced that it is launching operations in the United States with the creation of Therium Inc., a U.S. subsidiary headquartered in New York City.

Founded in London and Jersey in 2009, Therium is one of the largest and most established litigation financing firms in the world. Therium is expanding its services in North America with a dedicated business in response to the increased demand for litigation financing by law firms and businesses. It is the first European firm to establish such an operation in the U.S. and aims to be a go-to litigation financier for corporations and law firms in the region within the next three to five years.

Therium Inc. will be headed by Eric Blinderman, who leaves his post as International Litigation Counsel at Proskauer Rose LLP to become Chief Executive Officer. Blinderman brings substantial expertise in litigation financing, having represented Therium for many years while at Proskauer. In addition, Mr. Blinderman is a seasoned international and commercial litigator and arbitrator who has represented a multitude of international governments and private entities.

“We are delighted to appoint Eric Blinderman CEO of Therium’s U.S. operations to build on our existing success and to extend Therium’s offering to corporations, institutions and law firms who require innovative structures to finance litigation,” said John Byrne, Co-founder and CEO of Therium Group Holdings. “I believe the opportunity is substantial. Therium is extremely well positioned to transform the litigation financing landscape in the U.S., the world’s largest litigation market.”

Blinderman added, “I am particularly attracted to Therium’s portfolio financing model because it enables law firms to take on significantly more viable cases at little or no cost to the claimant and it allows corporations to utilize funding to prosecute unrealized claims while generating cash flow for the firm and/or company.”

In addition, Blinderman’s former Proskauer colleague, Patrick Dempsey, has been appointed as Chief Investment Officer of Therium Inc. Mr. Dempsey, an experienced litigator and trial lawyer, joins Therium from Hogan Lovells US LLP.

“With the U.S. litigation finance market still relatively young, Therium’s funding model and expertise make it ideally situated to capitalize on the untapped potential here in the U.S. I’m also very much looking forward to being reunited with my former colleague and friend, Eric Blinderman, to grow Therium’s footprint in the U.S.,” said Dempsey.

Neil Purslow, Co-Founder of Therium Group Holdings, said, “We are thrilled that Eric and Patrick have joined Therium at this time to lead the expansion of our business in the U.S. Eric is a world-class attorney with an impressive track record of advising on highly complex litigations and international commercial arbitrations. Patrick’s litigation expertise and judgment across a wide range of industries will be invaluable as Therium grows.”

In addition to the hiring of Blinderman and Dempsey, Robert Dwyer has agreed to join Therium Inc. as chairman of the investment committee and Non-Executive Chairman of the Board of Directors of Therium Inc. Dwyer, retired from the practice of law, is the former head of Dorsey & Whitney’s New York Office and a past member of Dorsey’s Management and Policy Committees. He brings decades of finance, structuring and corporate experience to Therium as he spent his entire career advising clients on mergers and acquisitions, venture capital financing, tax planning and compliance, and has represented dozens of start-up and development-stage companies.

Founded in London in 2009, Therium is one of the most established litigation financing firms, with a market-leading track record of generating superior returns for its investors. In April 2015, Therium secured $300 million to invest in commercial litigation financing, the largest ever single investment in the litigation funding sector, globally.

Therium has consistently been at the forefront of innovation in litigation finance, pioneering the combined use of insurance tools alongside funding vehicles, and introducing portfolio funding products into the UK. The firm’s ability to develop innovative funding arrangements complements its rigorous approach to and experience of funding a wide range of commercial disputes in varying jurisdictions.

As part of Therium’s expansion into the U.S., the company will export its portfolio model, which was developed to provide non-recourse financing to law firms and corporations in return for a share of the proceeds from successful cases. The portfolio model not only enables meritorious litigations to progress that might otherwise not be financed, but also allows law firms to operate within their existing billing structures while permitting them and their clients to share in the proceeds generated by successful claims. Further, Therium’s portfolio funding model allows corporations to obtain off-balance sheet financing to monetize litigations that would otherwise not progress because of financial or other capital constraints.

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