A litigation funder from North America is putting down roots in the UK, starting its own legal practice and acquiring another.
Heirloom Fair Legal describes itself as a ‘one-stop shop’ for legal representation, disbursement funding and after-the-event insurance. The business was founded by Canadian entrepreneur Geoff Dover and lawyer Beth Hirshfeld and has designs on the growing claims areas of data breach, motor finance mis-selling, irresponsible lending and institutional abuse.
Heirloom has also acquired Warrington-based Hayes Connor, which specialises in representing victims of large-scale data breaches. The firm will retain its branding and offices as part of the wider Heirloom Fair Legal group, which will provide back-office help and capital to adopt new technology.
Dover will be managing director of HFL Law, which already has 28 staff and plans to expand further. ‘The current claims market demonstrates a lack of efficiency, misalignment and a high degree of complexity,’ he said. ‘It is not delivering the access to justice that people need. We are working with our originator, solicitor, insurance, expert and counsel partners to drive positive change.
‘The opportunity is there for everyone to have appropriately profitable businesses while operating ethically, driving down costs, risk and complexity for the claimants, the defendants and the system as a whole. There is a better way.’
The firm says people with small claims may often receive half of awarded damages, after legal fees, insurance and funding costs are deducted. HFL Law says its target is for clients to keep 75% of damages, and says it will work towards eradicating what it calls the ‘common practice of kickbacks and rebates between all of those involved in claims’.
The business, which is self-funded, has provided £25m in disbursement funding since 2022.
Hayes Connor, which has four directors and 14 other staff, has settled more than 1,900 claims since its launch in 2018, including cases against Transport for London, the Ministry of Justice and Tesco.
As a trading style of FD Law Limited, the most recent accounts for the year ended 30 September 2023 show the business had net assets of £210,509. According to Companies House records, directors William Betts and Daniel Thompson both handed over significant control of the business to Heirloom Fair Legal from last week.
Thompson said: ‘This is the beginning of an exciting new phase for Hayes Connor. The support and infrastructure of Heirloom Fair Legal means that we can focus on implementing our strategic plans, while helping them to develop their dynamic model for consumer claims.’
