The Background
Pretium was approached to support a complex, long-running piece of litigation that had been brewing for years. Normally, we wouldn’t enter a matter this late in the game. But the company in question had only recently entered liquidation, giving the appointed liquidator the opportunity to revisit the matter with fresh eyes—and a new funding partner.
The case involved a professional indemnity claim against an insurer. The claim? That a structural engineer had provided negligent designs for the foundation of a low-rise apartment complex which left the building leaning like something out of an Italian tourist postcard.
The Problem
The existing pleadings were weak, and mediation had already failed. Still, there was strong belief in the commercial value of the claim. Pretium agreed to fund the matter, but only after receiving advice from a senior barrister on two key fronts:
- Was it still possible to amend the pleadings this late?
- If so, did the amended case have strong prospects of success?
On the strength of that advice, Pretium paid for the application to amend and supported the legal battle that ensued. The insurer’s legal team fought tooth and nail to block the amendment—but the liquidator’s team prevailed.
The Setback
Trial was the only path forward, and the matter proceeded to court. Against expectations,the judge ruled against the liquidator.
Despite the loss, something strange happened the morning of judgement: the insurer’s legal team reached out, urging a settlement. They claimed that their offer was near the policy cap. It was a red flag that the judgement might be harsh or contestable.
The Turnaround
Pretium wasn’t ready to walk away. We engaged one of the most senior barristers in the field to review the judgement. His advice? Appeal.
With our backing, the appeal was lodged. The result? A unanimous victory for the liquidator.
And when the other side tried to appeal to the High Court Denied. It never even got through the gates.
The Takeaway
This matter didn’t go to plan. But it shows the real power of litigation funding:
- The liquidator bore no financial risk beyond their time.
- All disbursements were covered by Pretium.
- We funded legal advice, pleadings amendments, trial preparation, appeal proceedings and even potential adverse costs exposure.
When things got tough, we doubled down.
Because at Pretium, we wear the risk, so our partners can stay focused on outcomes.
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