Therium Litigation Funding A IC v Bugsby Property LLC [2023] EWHC 2627

The Court dealt with the consequences of applications made by Therium in support of arbitration proceedings brought in respect of settlement monies which Bugsby had received in funded litigation. Therium (and another funder Omni Bridgeway) had asserted proprietary claims over the sums that their respective contracts with Bugsby had provided for. Bugsby’s position was that the claims could not survive the recent PACCAR decision. The Judge held that there were serious issues to be tried as to the enforceability of the funding agreement as well as the severance clause contained within it. The Court granted appropriate injunctive relief, having no difficulty in accepting Therium’s central points which were that the settlement monies were impressed with a trust and injunctive relief should cover all funds subject to that trust, and not merely funds that were the subject of Therium’s claim.