UK law firm struggles without litigation funding
Tandem Law is in trouble since its Cayman islands-based financial backers went in to receivership in December.
Tandem Law specialises in Group Litigation Orders - essentially class actions - and relied on funding by the Axiom Legal Financing Fund, which funds litigation and distributes a proportion of awarded damages to its investors. Tandem has had to stop work on a number of large cases due to the lack of funds.
Tandem’s managing director Andrew Lindsay says his firm will sue the fund manager and its directors, and has launched a firm-wide redundancy consultation.