Litigation Funder Fights Petronas Suit After $15 Billion Sulu Win Unravels

Source: bloomberg.com

Litigation funder Therium Capital Management is locked in a legal fight with Petronas after a massive $15 billion award to Sulu sultans' heirs fell apart. The sultans claimed rights to Sabah territory held by Petronas, but courts later ruled the claimants weren't the real heirs. This dispute highlights risks in high-stakes litigation funding, where backers like Therium bet big on uncertain wins and now scramble to salvage returns.