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Affiniti Finance in Administration

Written by Robert Moore Marketing Manager 10 November 2021

Administrators have been appointed to Affiniti Finance Limited one of the biggest legal funders in the UK.

Andrew Hosking and Sean Bucknall of Quantuma Advisory Limited have been appointed as administrators

According to reports there has been no statement from Affiniti Finance. It is unclear at this stage whether the company continues to trade and what will happen to its multi-million pound funding agreements with various law firms.

Affiniti Finance was a credit litigation funder in the UK founded in 2014, initially dealing with personal injury loans but later expanding its portfolio to include financial mis-sell and a wider range of consumer disputes. The commercial division of Affiniti Finance also specialises in funding options for high-value individual claims and group actions.

Affiniti raised £250m for litigation and dispute funding, backed by a multi-billion dollar US-based fund. Its investments at the time included more than 5,000 litigation matters, but it was envisaged this would increase to 50,000 within a year. According to the annual accounts for the year ending 31 December, the firm had an outstanding loan worth £18.3m with Fortress Lending Fund Subsidiary DAC secured by a fixed and floating charge over the assets.

In the past month, two claims firms which were previously high-profile names in the sector have gone into administration: Hampson Hughes and Pure Legal, both based in Liverpool. The reasons for the collapses have not been given in detail, but should be explained in the forthcoming administrators’ reports.

Category: What is administration

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