Next Gen Solicitors
Repayment Strategy The Company intends to repay the principle and make interest to Bondholders as follows: •Where a case is successful - through costs awarded and Next Gen Solicitors success fees charged to the claimant / defendant •Where a case is not successful - The ATE policy provides cover in the event that the case is unsuccessful and covers the specialists’s report, any disbursements incurred in running the case such as issue fees and court fees as well as the premium itself. Marketing Professional advisory firms and marketing and wealth management companies will market and advertise the Bonds on behalf of Next Gen Solicitors. Commissions for these services are variable and will be paid directly by the Company and not from the proceeds raised from the Bond issue. Use of Proceeds The proceeds raised from the issue of Bonds will be used to replace existing funding lines and to fund all costs of cases they have identified with a high probability of success. Part of the proceeds raised will be used to repay a loan balance for the acquisition of cases and advance on work in progress. The proceeds will also be used to fund all the costs to identify cases with a high probability of success, including but not limited to Next Gen Solicitors resources, fees paid to specialists to provide analysis and their report, and the costs of ATE insurance. Company Structure The current issued share capital of the Company is 100 Ordinary Shares of £1 in the ownership of Karen Smith.
Management Team Karen Smith - Director
Karen Smith has worked within the legal sector for over 10 years, her expertise within the Personal Injury claiming sector prompted her to open her own claims management company in 2014. The complexity of her job role is reflected in her knowledge of the legal industry, dealing with all elements of the personal injury sector, this led to Simple Legal Solutions being and still is, a very successful FCA regulated Claims Management Company.
Stephen Cornforth - Director Stephen Cornforth has been a Solicitor for 40 years. For much of that
time, he has had a management role in law firms. He has a longstanding interest in Practice Management, especially
Professional Indemnity Insurance, Risk Management and Regulatory Compliance. He has many years’ experience in dealing with complex Medical Negligence and Personal Injury Work. He also has an interest in Housing Law. He regularly speaks to lawyers and law firms on these subjects. He was awarded Legal Entrepreneur of the Year 2015 by Downtown in Business, Liverpool and in 2016 steered EAD to the Best Legal Firm award at The City of Liverpool Business Awards. Stephen Cornforth Consultancy - May 2017 - to date LJMU Law School Advisory Board 2019 - to date Shortlisted - Outstanding Contribution to Access to Justice Award (LawWorks) 2018 President Liverpool Law Society - 2012 Fellow Emeritus – Association of Personal Injury Lawyers - 2017 - to date Senior Partner - EAD Solicitors LLP 2011 - 2017 Trustee NorthWest Legal Support Group James Reed - Director James Reed is the Managing Director of Next Gen Solicitors, he handles the day to day running of the law firm as well as overseeing caseloads of personal injury, housing disrepair and financial claims. In the last 10 years James has secured over £5 million in compensation for his clients. Expertise – James specialises in personal injury claims for adults and children. He has extensive knowledge of public and employers liability matters. James also completed several seats during his training contract including family law, housing disrepair and in a later role criminal law. His newfound interest is in financial mis-selling including products such as , SIPP and Plevin cases. Career – James qualified as a solicitor in 2016, firstly having obtained a 2:1 with honours in Law before completing his Legal Practice Course. Having joined Next Gen in January 2018 he was promoted to Director within 12 months.
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