29 July 2019

Potential £14m liability avoided in crowd funding scheme

More than a year’s work came to a successful conclusion for Adam Finch and his team when a claim which would have made 160 people jointly and severally liable for c£14m was dismissed by High Court of Justice, Business and Property Court, Business List (ChD).

The investors who Adam represented were part of a group litigation matter in a crowd funding claim. Following a successful strike out application, the claim was dismissed.

Adam and his team have been involved with the clients for more than a year, and communications across such a large group meant using an online platform. The team and the wider firm dealt with correspondence from almost 1,000 individuals/defendants over that period.

As well as accomplishing a successful result for his clients, Adam and his team are reviewing the potential for future use of technology and online platforms to represent others in similar group actions.

Adam said: “Given the number of individuals involved in this case, it was crucial that we developed an effective strategy for handling a high volume of client correspondence and for providing information and updates.

“The use of a digital platform has proved a successful venture in a case of this complexity, and we are now looking to expand on the facilitation of technology where it will improve or assist in future claims of this type.”

Clients showed their appreciation of the team’s work – one said: “Thank you for the support during this very stressful period,” while another said: “Thank you for your hard work running this case on everyone’s behalf.” The team’s work and commitment to keeping clients informed prompted another to say: “Thank you for the work done to have achieved this status and keeping us informed of the progress.”

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Adam Finch, Partner
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