Apex Litigation Finance (Apex) has today announced that Stephen Allinson, Chairman of the Board of The Insolvency Service, will join the company as an adviser and sit on the investment committee.
Stephen is a Solicitor and Licensed Insolvency Practitioner, and has specialised in credit, debt and insolvency work since 1987. Stephen 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.
In addition, he serves as a member of both the Chartered Institute of Legal Executives Qualifications Committee and the Legal and Technical Committee of the Civil Court Users Association, and as a Director of The Money Charity.
As well as these roles, Stephen co-chairs the Credit Strategy Insolvency and Rescue Award, which is recognised as the premier awards scheme in the turnaround, insolvency and rescue profession.
Apex Litigation Finance, which launched in April 2019, will work with leading law firms, insolvency practitioners and corporates to fund small to medium sized claims. Apex has partnered with legal AI specialist CourtQuant, who provide risk assessment tools analysing probable litigation outcomes.
Commenting on the high-profile appointment, Maurice Power Apex CEO 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.”
Stephen Allinson expressed his delight at his appointment adding: “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.”
Apex funds legal and other costs associated with a claim in return for an agreed share of any successful outcome. If there is no recovery, or if the claim is lost, there is nothing to repay as Apex offers non-recourse funding.