Patrick established the first professional litigation funder in Australia in 1997 and was its managing director for the next 17 years, working full time in this role from 2002. Prior to this, Patrick worked as an insolvency practitioner for 14 years.
As an insolvency practitioner, Patrick focussed on generating returns for creditors through litigation. Patrick was responsible for identifying and then managing more than 300 separate legal claims, almost all of which were successful and generated returns for the creditors of the plaintiff liquidations. Patrick was responsible for managing the then longest running civil trial in Australia (471 sitting days) which resulted in a judgment against the directors of the failed company of almost AUD200 million.
Patrick was also responsible for the judgment of the High Court of Australia that granted Liquidators in Australia very wide powers to examine in Court and obtain documents concerning the financial position of defendants to legal claims brought by Liquidators.
Patrick has an outstanding track record as a litigation funder. He has been solely responsible for funding 184 completed cases of which 161 were profitable, 9 incurred a loss and 14 broke even. Cases funded by Patrick have included claims for accountant and audit negligence, breach of directors’ duties, infringement of patents, investment manager negligence, unfair preference and insolvent trading claims by Liquidators and shareholder class actions.
As litigation grows and becomes ever more expensive, top tier law firms and corporate clients are realising the benefits that third party legal finance provides as a risk management tool.
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