Litigation funder jointly liable for indemnity costs, court rules

Litigation funder Therium should be jointly and severally liable for indemnity costs after a specialist currency debt management firm unsuccessfully sued HSBC, the UK High Court has ruled. The funder agreed to back the claim by ECU Group against a number of HSBC entities over allegations that traders used knowledge of ECU’s foreign exchange orders to make a profit between 2004 and 2006, in a practice known as ‘front running’. However, ECU’s claim was ruled to be time barred by Mrs Justice Moulder, who held that the company had ‘sufficient knowledge’ to plead its case in 2006.

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In the News

Special Report: The Sulu heirs’ claims – A thorn in Malaysia’s side

There is supposedly an immense amount of wrangling behind the scenes of the US$14.92 billion claim and ongoing dispute between the eight heirs of the late Sultan of Sulu and the Malaysian government, and the Therium-backed claim couldn’t have happened at a worse time for the country amid its unstable political situation.

Funder News

Therium adds four investment managers

Therium Capital Management has added four investment managers to its transatlantic investment team, Chris Wilkins and Charlie Temperley in London and Corey Banks and Joshua Card in New York.

In the News

Sulu claim shows Southeast Asia cannot yet escape colonial legacy

Southeast Asia’s inability to escape the legacy of European colonialism is on show once again, with a French arbitrator insisting that Malaysia owes billions of dollars under a land lease agreement dating back a century and a half between a vanished sultanate and a defunct British trading house in a case that, according to the Financial Times, is being backed by litigation funder Therium.

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