Since 18 February 2014, the Board of the Association of Litigation Funders (“the ALF”) has been investigating press reports that were highly critical of the fundraising practices of Centaur Litigation SPC (“Centaur”), an entity said to be associated with ALF member, Argentum Capital Limited (“Argentum”). Recently, the ALF Board put a series of important questions to the management of Argentum about the precise role played by Argentum in the matters reported in the press. Argentum has stated that it is a separate legal entity from Centaur, that it is not involved with the fundraising activities of Centaur, and that it is not under investigation to the best of its knowledge. During this round of enquiries, Argentum offered to withdraw from membership of the ALF and the Board of the ALF has accepted that offer. With immediate effect, Argentum is no longer a member of the ALF and the important protections that are available to counterparties who deal with ALF members are no longer available to those who deal with Argentum in the future.
The ALF Board retains jurisdiction over matters involving the conduct of Argentum during the period of its membership of the ALF.
24 April 2014 (amended 20 May 2014)