Latest news with #Deminor
Yahoo
04-08-2025
- Sport
- Yahoo
Class Action Against FIFA and EU Football Associations on Behalf of Football Players Launched Today by "Justice for Players", a Dutch Foundation
The Justice for Players Foundation ("JfP") is launching a class action in the Netherlands against the Fédération Internationale de Football Association (FIFA) and several national football associations on behalf of professional football players, men and women, who have played for football clubs in member states of the European Union and the United Kingdom since 2002. JfP is fighting for the rights of professional football players and to secure compensation for players whose earnings were compromised as a result of FIFA's restrictive rules on termination of contracts and transfers (the "FIFA Regulations"). This legal action has been launched following The Court of Justice of the European Union (CJEU) ruling in October 2024, which found that the FIFA Regulations are unlawful in the case against FIFA brought by Lassana Diarra and the international players' unions, FIFPRO Europe/FIFPRO World, the international players' unions. JfP has instructed Netherlands-based law firm Finch Dispute Resolution, which specialises in class actions in the Netherlands to represent it in the class action. Dupont-Hissel, the law firm that represented Mr Lassana Diarra, is also advising JfP. This legal action is fully funded by Deminor, one of Europe's leading providers of legal finance, so that players will not have to pay to join the legal action or assume the financial risk of this legal action. To find out more about the claim and to register your interest or your client's interest in joining the legal action, please visit AMSTERDAM, August 04, 2025--(BUSINESS WIRE)--The Justice for Players Foundation ("JfP"), a Dutch Foundation has today launched a class action on behalf of professional football players who have been affected by the FIFA Regulations. The claim against FIFA and several national football associations, including the KNVB, the Football Association of the Netherlands, will be filed at the District Court of Midden-Nederland. JfP intends to represent all professional footballers who are playing or who have played in clubs in the European member states and the United Kingdom and who have been adversely affected by FIFA's unlawful rules from 2002 to the present. Preliminary estimates indicate that the number of affected footballers may comprise approximately 100,000 players. This case is being brought in the Netherlands under the Dutch Act on the Settlement of Mass Damages in Collective Action (WAMCA), which allows this legal action to be launched by JfP on behalf of a large group of professional footballers. The case has been launched following the CJEU judgment in October 2024 in the case brought by football player Lassana Diarra and FIFPRO Europe/FIFPRO World against FIFA, which found that the FIFA Regulations seriously infringed EU competition law and the right to free movement of workers, making it extremely challenging for a player to terminate their employment contract without just cause. In short, the CJEU ruled that the FIFA Regulations violated two core principles of European law: free movement of workers and fair competition. By stating unequivocally that FIFA's rules were unlawful and that those rules caused all players to suffer a financial loss, the CJEU in its judgement gave the green light to a Europe-wide class action. This is a classic follow-on claim, in line with the EU Representative Action Directive, that seeks to ensure that the rule of law is upheld, that FIFA is held to account and that all players receive the compensation that is owed to them. In particular, the CJEU noted that the FIFA Regulations had the effect of restricting the free movement of workers and competition by: establishing unlawful criteria for determining the severance "compensation" a player must pay to their former club; allowing the national federation of the former club to withhold the issuance of an International Transfer Certificate (ITC), without which a player cannot play for a new club; making the player's new club automatically jointly and severally liable for the compensation to be paid to the former club and allowing FIFA to impose disciplinary sanctions on the player and their new club. The unlawful FIFA Regulations granted FIFA complete control over how and when players leave their current football clubs and under what conditions, effectively enforcing an extremely restrictive 'no-poaching agreement'. A preliminary analysis by economists at Compass Lexecon has estimated that affected professional footballers have earned approximately 8% less over the course of their career than they would have if the FIFA Regulations had not been unlawfully restrictive. Lucia Melcherts, Chair of the Board Member of Justice for Players, said: "All professional football players have lost a significant amount of earnings due to the unlawful FIFA Regulations. "Justice for Players" is bringing this claim to help achieve justice for footballers and fairness. The past and even current system unduly favours FIFA who has far too much unilateral power. In any other profession, people are allowed to change jobs voluntarily. The same should be true in football, particularly as the average career span of a professional footballer according to a FIFPro study is only 8 years long." Franco Baldini, Board Member of Justice for Players, said: "As a former professional footballer, agent and someone who has worked in football in various managerial capacities, I have had first hand experience, in particular with the Mexes case in 2004, of how much control and power FIFA has over the players. So I am very proud to be part of the Foundation "Justice for Players" and to be part of something that could help change the existing system and make football more inclusive and more sustainable." Dolf Segaar, Board Member for Justice for Players said: "This claim against FIFA brought by "Justice for Players" is an important and necessary next step that will allow footballers to assert their rights as EU workers and receive compensation from an organisation that for far too long has willingly ignored the rule of EU law. The CJEU ruled in a crystal-clear manner that the FIFA Rules on termination of contracts and transfer were blatant violations of EU competition law and free movement of workers. And the CJEU also made clear that such unlawful rules had caused players to suffer financial losses. Under EU law, victims of such violations are entitled to compensation for the losses they have suffered and that is an important part of what this class action is about." Koen Rutten, Partner at Finch Dispute Resolution, said: "For over 20 years, FIFA has enforced unlawful rules at the expense of professional footballers. Finch is supporting "Justice for Players" so that FIFA can be held accountable and ordered to compensate footballers whose earnings have been impacted by these unfair and illegal rules. Not only are we seeking damages for footballers who have been disadvantaged by the rules that mainly benefit FIFA and the football associations, but through this legal action we are seeking changes to the FIFA Rules so that professional players can finally have greater control over their careers." For further information please visit: Notes to Editors About Justice for Players Justice for Players was founded to advocate for the interests of professional footballers across Europe. The board comprises of three members: Lucia Melcherts, Dolf Segaar and Franco Baldini. Lucia Melcherts has been the chair of Stichting Massaschade & Consument (Foundation for Mass Damages & Consumers) since 2021. She also holds the position of Coordinating Specialist Advisor at the Dutch Ministry of Justice and Security. Dolf Segaar founded his own law firm Segaar Law in July 2021, specialising in governance and litigation, with a strong focus on sports law. Franco Baldini is a former professional footballer and agent and spent over 20 years in different senior management roles at top international clubs and organizations, including AS Roma, Real Madrid, Tottenham Hotspur and the England National Team. He currently runs his own consulting firm IC20 Ltd. About Finch Finch Dispute Resolution is an independent Dutch litigation boutique law firm, founded in 2022. With a team of around 18 specialised litigators and 5 partners based in Utrecht, the firm handles corporate, commercial, financial, and class-action disputes—domestically and internationally. About Dupont-Hissel Jean-Louis DUPONT and Martin HISSEL are specialists in European law, particularly as applied to the sports sector. Together they have defended hundreds of cases, acting on behalf of all stakeholders in the professional sports sector, before the CJEU, the European Commission, the European Court of Human Rights, national competition authorities, national courts, international (including CAS) and national arbitration tribunals, and the internal judicial bodies of national and international sports associations. In particular, they have led and co-managed cases that resulted in landmark judgements of the CJEU regarding sports governance in the EU and beyond: Bosman (1995), Meca-Medina (2006), Royal Antwerp FC (2023), European Super League (2023), Lassana Diarra (2024) and RFC Seraing (2025). About Deminor Founded in 1990, Deminor is a leading international litigation funder with offices in Brussels, London, Hamburg, New York, Hong Kong, Madrid, Milan, Stockholm and Luxembourg. Combining skill sets from 19 different nationalities and 22 languages, Deminor possesses a highly respected and diverse team of legal and financial specialists across a range of specialisms including arbitration, enforcement, intellectual property, competition, investments & tax, corporate & post-M&A. View source version on Contacts Media Contacts Desiree Maghoo, Questor ConsultingT: +44 (0) 20 3761 9670M: +44 (0) 7775522740E: dmaghoo@ Mimi Robson, Questor ConsultingT: +44 (0) 20 3761 9669M: +44 (0) 7749940494E: mrobson@
Associated Press
01-07-2025
- Business
- Associated Press
Deminor General Counsel Greater China and South East Asia recognised in 2025 Chambers and Partners Rankings
LONDON, UNITED KINGDOM, July 1, 2025 / / -- Deminor Litigation Funding is proud to announce that its General Counsel Greater China and South East Asia, Irene Lee, has been recognised by Chambers and Partners in the South-East Asia category in its 2025 rankings. Irene Lee joined Deminor in November 2020 and leads the firm's activities in Greater China and Southeast Asia from Hong Kong. She focuses on identifying and managing litigation funding opportunities in the region, including court proceedings, arbitration, enforcement actions, and cross-border investment recovery. With over 15 years of experience in complex litigation, arbitration, and financial regulatory work, Irene has advised clients worldwide, particularly from mainland China. Within Deminor, team members have retained individual recognitions from previous years including; Chief Executive Officer Erik Bomans, Chief Investment Officer Charles Demoulin, and Head of Enforcement Alex Marine. In addition, General Counsel David Walker (UK), has also received Chambers and Partners rankings for the first time. Additionally, Deminor Litigation Funding has retained its Band 1 ranking in the Chambers and Partners Ranking for Litigation Support in Europe. The firm has also achieved significant new recognitions across multiple jurisdictions, securing Band 2 for South-East Asia, Band 4 for the UK, and Band 2 for International Arbitration (Global-Wide). This expanded recognition reflects Deminor's evolution from its 1990 founding to a global litigation funding pioneer with 9 international offices spanning 23 jurisdictions. Retaining Band 1 status in Europe whilst securing new rankings across additional jurisdictions demonstrates both the firm's international expansion strategy and exceptional track record. With a diverse team of 19 nationalities speaking 22 languages, Deminor delivers specialised expertise across arbitration, enforcement, intellectual property, competition, investments, tax, and corporate disputes worldwide. Chambers and Partners, renowned for its comprehensive and independent research into the legal market, awarded these rankings following an extensive evaluation process. The assessment examined Deminor's track record of success, the diversity of its investment portfolio, its contribution to advancing the litigation funding industry, and most importantly, direct feedback from clients. In past years, market commentators have noted that 'Deminor is probably the most structured litigation funder in Europe.' Further comments highlighted that 'Deminor have shown a high capacity to handle complex issues, both from a legislative and regulatory perspective, as well as from an operational and management perspective.' Additionally, as Deminor takes pride in its global presence and diverse team, it has also been said, 'Deminor has an impressive portfolio of well-experienced legal experts, financial analysts and litigation strategists. They have people spanning over multiple jurisdictions. This allows them to take on and assess complex international matters.' Erik Bomans, Chief Executive Officer at Deminor, expressed pride in the achievement: 'Retaining our Band 1 ranking in Europe while simultaneously achieving recognition across South-East Asia, the UK, and global arbitration markets represents a defining moment for Deminor and validates our strategy of becoming a truly global litigation funding service provider. What makes this multi-jurisdictional recognition from Chambers and Partners particularly meaningful is that it reflects direct feedback from the clients we serve; their voices carry the greatest weight in these rankings, and their confidence in our ability to handle the most complex matters across diverse legal systems drives everything we do. As we expand internationally, our mission remains unchanged: democratising access to justice by providing the financial backbone that allows meritorious claims to be pursued on a global scale.' Deminor has been instrumental in supporting numerous high-profile and impactful cases, providing financial backing and strategic expertise to clients seeking justice. This recognition by Chambers and Partners not only validates Deminor's approach but also encourages the company to further enhance its services and expand its reach in the litigation funding landscape. About Deminor: Founded in 1990, Deminor is a Band 1 Chambers and Partners international litigation funder with offices in Brussels, London, Hamburg, New York, Hong Kong, Madrid, Milan, Stockholm and Luxembourg. Deminor's name, derived from the French 'défense des minoritaires' (defense of the minorities) reflects its original commitment to the pursuit of good causes and its determination to restore justice for clients. Kevin Matthews Deminor Recovery Services (UK) Ltd email us here Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Associated Press
01-07-2025
- Business
- Associated Press
Deminor Litigation Funding Chief Executive Officer recognised in 2025 Chambers and Partners Rankings
LONDON, UNITED KINGDOM, July 1, 2025 / / -- Deminor Litigation Funding is proud to announce that its Chief Executive Officer, Erik Bomans, has retained his ranking in Chambers and Partners in the Europe-wide category for Litigation Funding. Erik Bomans is the Chief Executive Officer of Deminor and the executive director in charge of the 'Commercial Litigation Funding' department. Erik was trained at the Brussels office of Linklaters and qualified as a lawyer in 1995. He joined Deminor in 1995 and became a partner in 1999. Erik regularly speaks at conferences on the topic of litigation funding, has published research on the state of the litigation funding market and has been recognized as a leader in his field by Who's Who Legal and Law Dragon. Alongside Erik, other Deminor team members have also retained individual recognitions including Chief Investment Officer Charles Demoulin, and Head of Enforcement Alex Marine. In addition, General Counsel Irene Lee (Greater China and South East Asia), and General Counsel David Walker (UK) have also received Chambers and Partners rankings for the first time. Additionally, Deminor Litigation Funding has retained its Band 1 ranking in the Chambers and Partners Ranking for Litigation Support in Europe. The firm has also achieved significant new recognitions across multiple jurisdictions, securing Band 2 for South-East Asia, Band 4 for the UK, and Band 2 for International Arbitration (Global-Wide). This expanded recognition reflects Deminor's evolution from its 1990 founding to a global litigation funding pioneer with 9 international offices spanning 23 jurisdictions. Retaining Band 1 status in Europe whilst securing new rankings across additional jurisdictions demonstrates both the firm's international expansion strategy and exceptional track record. With a diverse team of 19 nationalities speaking 22 languages, Deminor delivers specialised expertise across arbitration, enforcement, intellectual property, competition, investments, tax, and corporate disputes worldwide. Chambers and Partners, renowned for its comprehensive and independent research into the legal market, awarded these rankings following an extensive evaluation process. The assessment examined Deminor's track record of success, the diversity of its investment portfolio, its contribution to advancing the litigation funding industry, and most importantly, direct feedback from clients. In past years, market commentators have noted that 'Deminor is probably the most structured litigation funder in Europe.' Further comments highlighted that 'Deminor have shown a high capacity to handle complex issues, both from a legislative and regulatory perspective, as well as from an operational and management perspective.' Additionally, as Deminor takes pride in its global presence and diverse team, it has also been said, 'Deminor has an impressive portfolio of well-experienced legal experts, financial analysts and litigation strategists. They have people spanning over multiple jurisdictions. This allows them to take on and assess complex international matters.' Erik Bomans, Chief Executive Officer at Deminor, expressed pride in the achievement: 'Retaining our Band 1 ranking in Europe while simultaneously achieving recognition across South-East Asia, the UK, and global arbitration markets represents a defining moment for Deminor and validates our strategy of becoming a truly global litigation funding service provider. What makes this multi-jurisdictional recognition from Chambers and Partners particularly meaningful is that it reflects direct feedback from the clients we serve; their voices carry the greatest weight in these rankings, and their confidence in our ability to handle the most complex matters across diverse legal systems drives everything we do. As we expand internationally, our mission remains unchanged: democratising access to justice by providing the financial backbone that allows meritorious claims to be pursued on a global scale.' Deminor has been instrumental in supporting numerous high-profile and impactful cases, providing financial backing and strategic expertise to clients seeking justice. This recognition by Chambers and Partners not only validates Deminor's approach but also encourages the company to further enhance its services and expand its reach in the litigation funding landscape. About Deminor: Founded in 1990, Deminor is a Band 1 Chambers and Partners international litigation funder with offices in Brussels, London, Hamburg, New York, Hong Kong, Madrid, Milan, Stockholm and Luxembourg. Deminor's name, derived from the French 'défense des minoritaires' (defense of the minorities) reflects its original commitment to the pursuit of good causes and its determination to restore justice for clients. Kevin Matthews Deminor Recovery Services (UK) Ltd email us here Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Associated Press
25-04-2025
- Business
- Associated Press
Shadow SEC Warns of Dangerous Cuts to SEC Budget and Staff
The SEC is facing cuts' due to budget reductions, staff cuts, and a new Executive Order requiring all policy decisions to receive prior approval from the OMB. NEW YORK, NY, UNITED STATES, April 25, 2025 / / -- In Deminor 's latest article, Michael Watson (Senior Legal Counsel) examines the Shadow SEC's March 2025 statement and its implications for market oversight and enforcement capacity. The 'Shadow SEC,' a group of securities law professors, warns that drastic budget cuts and staff reductions are undermining the SEC's ability to effectively police the markets. Weakened regulatory oversight heightens the risk of securities fraud and underscores the need for vigilant enforcement and litigation to protect investors' interests. A group of prominent securities law professors, collectively known as the 'Shadow SEC,' has issued a dire warning about the future of the Securities and Exchange Commission ('SEC') (Shadow SEC Statement No. 2 (March 13, 2025): THE CRISIS DEEPENS AS SEC STAFF AND BUDGET CUTS ARE DIRECTED | CLS Blue Sky Blog). In their latest statement, dated March 13, 2025, Professors John Coates, John C. Coffee, Jr., James D. Cox, Merritt B. Fox, and Joel Seligman express concern that the SEC is facing a 'death by 1,000 cuts' due to severe budget reductions, mandated staff cuts, and a new Executive Order requiring all policy decisions to receive prior approval from the Office of Management and Budget (OMB). The professors argue that: 'diminishing the SEC's staff will lead to chaotic financial markets, longer review times for registration statements, and weakened enforcement capabilities.' They highlight past instances where underfunding contributed to devastating economic crises, such as the 2007-2009 collapse that saw millions of jobs lost and household incomes plummet. Additionally, the Shadow SEC points out that the agency's shrinking size comes at a time when it oversees an ever-expanding market that includes over 30,000 registered entities and 16,000 funds. Despite generating more revenue than its operational expenses, the SEC is still being downsized. The professors warn that these cuts may result in higher costs of capital for U.S. issuers and could create a 'race to the bottom' in compliance standards, as unscrupulous actors take advantage of weakened enforcement. When regulators lack the resources to effectively police securities markets, the likelihood of fraud increases, particularly in complex or rapidly evolving areas like cryptocurrency. With diminished oversight, bad actors are more likely to exploit regulatory gaps, leaving investors exposed to heightened risk. This troubling trend underscores the importance of vigilant monitoring and, when necessary, litigation to protect investor interests in an increasingly uncertain environment. Kevin Matthews Deminor Recovery Services (UK) Ltd email us here Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
