Chairman of The Insolvency Service Stephen Allinson is to join Apex Litigation Finance as an adviser with a seat on its investment committee.
Apex was launched in April 2019 and will work with law firms, insolvency practitioners and corporates to fund small to medium sized claims. It has also partnered with legal AI specialist CourtQuant to provide risk assessment tools analysing probable litigation outcomes.
Apex funds legal and other costs associated with a claim in return for an agreed share of any successful outcome.
Allinson has specialised in credit, debt and insolvency work since 1987 and was appointed chairman of the board of The Insolvency Service in January 2017 and is also the chairman of the Joint Insolvency Examination Board (JIEB), the Deputy Independent Examiner for the Institute and Faculty of Actuaries and a visiting lecturer on business and commercial law at the University of Law.
Chief executive of Apex, Maurice Power, said: “The appointment of Stephen, both as an ambassador for the business and as a strategic guide to our investment committee, is a significant step for Apex. His presence and extensive experience across all aspects of the credit, legal and insolvency sectors, together with our innovative AI platform, will ensure our funding decisions are informed at the highest level, while providing comfort for investors and value for claimants.”
Allinson said: “Litigation funding has a crucial role to play in the development of the insolvency profession. I am thrilled to work with committed and innovative colleagues at Apex as we seek to bring a new approach to this fast-moving area for the benefit of both practitioners and creditors.”