14th Jul 2025 13:24
(Alliance News) - Eco Buildings Group PLC on Monday said it has an offer to fund its EUR195 ongoing arbitration against the Republic of Kosovo.
The London-based manufacturer of prefabricated modular housing products said the offer was from Atticus Litigation Financing, a new fund due to become operational in August.
The case relates to "substantial losses resulting from adverse and improper actions taken by various government agencies in Kosovo," Eco Buildings said.
The company's subsidiary, Fox Marble Ltd, is pursuing legal action through the International Court of Arbitration, where the panel nomination process is underway.
Fox Marble has engaged Dubai-headquartered law firm BSA Law as lead counsel on a conditional fee basis.
"This is an important moment in moving forward on this issue," said Eco Buildings Chief Executive Sanjay Bowry.
"With this offer to fully fund our case by Atticus that is advised by one of the most respected figures in global litigation finance, we are confident in our ability to see this claim through to a positive outcome. The support from Atticus and BSA Law is a strong external validation of our legal position and the compelling merits of our case."
Atticus Litigation Financing is advised by Nick Rowles-Davies, who was previously managing director at Burford Capital PLC, co-founder of Vannin Capital from 2010 to 2014 and a partner at Bridgehouse Partners from 2004 to 2011.
Rowles-Davies was terminated by Sydney-based Litigation Capital Management Ltd in 2021 "on the grounds of gross misconduct". This followed the discovery of expense claims which the firm said violated internal policy.
Shares in Eco Buildings were up 5.9% at 3.60 pence in London on Monday afternoon. The stock remains down 74% over the past year.
By Emily Parsons, Alliance News reporter
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