Harbour launches £150 million funding venture with Mishcon de Reya

Harbour Litigation Funding has launched a new £150 million funding venture with Mishcon de Reya called MDR Solutions I. It will be used to fund litigation and arbitration cases for Mishcon de Reya’s clients. Operationally separate to the law firm, the new venture will be responsible for assessing and investing in prospective cases originated by Mishcon de Reya. MDR Solutions I will benefit from sophisticated data science capability and expertise which has been built by Mishcon de Reya over a number of years. Harbour will be co-investing alongside the firm. Speaking on behalf of Harbour, CIO Ellora MacPherson stated that “this is fantastic news and the next step in the development of our relationship. We have nine active cases which Mishcon de Reya are advising on and close relationships between the teams at every level of the organisation. We look forward to working even closer together.” Read more.

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New Fundings

LCM backs class action against Google and DeepMind Technologies

LCM is backing a new representative action in the UK being brought by Mishcon de Reya on behalf of up to 1.6 million individuals against Google and DeepMind Technologies for the unlawful use of patients’ confidential medical records. The claim arises out of an arrangement formed in 2015 between Google and DeepMind and the Royal Free London NHS Foundation Trust. The tech companies obtained and used a substantial number of confidential and private medical records without patients’ knowledge or consent.

Funder News

ILFA Names New Chairman, Board of Directors, and Executive Committee

The International Legal Finance Association (ILFA) has announced its new board of directors, its chairman, and the executive committee. Gary Barnett, Executive Director of ILFA, welcomed Neil Purslow, who co-founded Therium, as the new Chairman. The Executive Committee Officers include: Christopher DeLise of Delta Capital, Susan Dunn of Harbour Litigation Funding, Jack Neumark of Fortress Investment Group LLC, Andrew Saker of Omni Bridgeway and Marcel Wegmüller of Nivalion.

Insights

Can Class Actions get off the ground in the UK without technology or funding?

Susan Dunn of Harbour Litigation reports that her firm is starting to insist on law firms using technology for class actions that require funding, stating that they won’t accept people saying, ‘we’ve got a bunch of paralegals with Excel spreadsheets doing this on phone at the cost of £100 a head.”

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