Litigation funder went under owing £43m to its backer, administrator reveals

Affiniti Finance, a UK-based litigation funder backing thousands of cases, folded last year when it defaulted on its obligations to its main finance provider Fortress Capital. A recent administrator’s report shows that the company was dependent on Fortress to enable it to advance loans to consumer litigants. But the relationship broke down shortly before administrators were appointed last November and Fortress issued an acceleration notice to Affiniti demanding repayment of the entire £42.9m outstanding.

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Defence crowdfunding ‘exacerbated’ libel damage

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