UK group action against Clydesdale, Australia’s NAB heads to High Court

Almost 370 businesses have joined a group action suing Clydesdale Bank and its former owner National Australia Bank in a dispute over small business loans that is set for its first day in London’s High Court in December. The group, which alleges businesses were deceived between 2001 and 2012 when buying fixed rate Tailored Business Loans, has snowballed since last year’s launch and now represents 509 smaller businesses and 867 individual loans, according to claims management company RGL Management. Bench Walk Advisors is backing the claim. More from Reuters.

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Funder News

Ayse Lowe promoted to Global Head of Origination at Bench Walk Advisors

Ayse Lowe has been promoted to Global Head of Origination at Bench Walk Advisors. Ayse joined Bench Walk Advisors in 2018 and has an outstanding reputation in the litigation funding industry, where she originates, underwrites, and monitors funding in various litigation sectors including international and commercial arbitration, insolvency, class actions and global litigation matters as well as law firm and corporate portfolio arrangements and defense funding.

New Fundings

Bench Walk provides Gateley with £50 million litigation funding facility

Bench Walk Advisors has been revealed as the firm providing UK legal and professional services group, Gateley with a £50 million funding facility. The agreement will see Gateley become one of only two listed law firms with access to a funding facility. Richard Healey, partner and head of Gateley’s dispute resolution group, noted that Bench Walk was chosen after a careful exercise in which a number of funders were assessed based on set criteria.

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