Claims firm's losses double to £4.8m - but caseload 'exceptionally strong'

Manchester-based Veritas Solicitors reported that its annual operating losses more than doubled to £4.8 million, with £63.9 million in debt and net liabilities of £30 million, despite projecting £134 million in potential recoveries from its housing disrepair and financial mis-selling caseload, while facing litigation funding costs of approximately 38% annually on facilities provided by Nera Capital, negotiating a restructuring of certain funding arrangements that could transfer rights to future claim proceeds, and struggling to collect a £13.8 million debt owed by I Quote Limited.

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