About Deminor

Deminor is the brand name of the Deminor Recovery Services group, a group of companies whose strategic focus is to assist businesses and investors in monetising legal claims.

Deminor is a pioneer and a leading force in the global litigation funding industry

We are not afraid to push boundaries in the pursuit of our clients’ interests, with the aim of restoring justice.

Deminor is a pioneer in its field and has been a leading force in numerous high-profile securities actions globally. This track record extends to the Fortis case which produced a record settlement (EUR 1.3 bn) for investors in Europe.

Deminor has also been active in Asia and represented a diverse foreign investor base in the Olympus matter, securing a significant settlement. For further publicly available information on settled cases, please visit the cases section on this web site.

Deminor has activities in 22 different jurisdictions and offices in 9 different cities in Continental Europe, the U.K., the U.S. and Asia.

Who is deminor?

fense des minoritaires’

Founded in 1990, Deminor is a leading privately-owned and international litigation funder with offices in Brussels, London, Hamburg, Madrid, New York, Stockholm, Hong Kong, Milan, and Luxembourg. Deminor’s name, derived from the French ‘défense des minoritaires’, reflects its origins in providing services to minority shareholders. Deminor is still very much defined by the pursuit of good causes and its determination to restore justice for clients.


Deminor's Team brings to the table a diversity of academic backgrounds, skill sets and languages. Over a decade of combined experience has cemented the team’s expertise in cross-jurisdictional litigation, claims management, enforcement of shareholder rights, settlement negotiations and corporate governance.

1 Purpose 5 Values


Fiercely independent and opinionated.


We do not compromise on our ethics and values.


Relentlessly driven to pursue justice and restore balance​.


We deliver industry defining standards of quality and excellence​.


Being the first to tread paths that others will not​.



Incorporation of Deminor in Brussels, “fense des [actionnaires] Minoritaires”.

Launch of activities consisting of advisory services to minority shareholders in special situations (e.g., takeover, forced acquisitions, corporate governance issues)


Deminor obtains its first major victory on behalf of private and institutional investors in the controversial acquisition of the Belgian group Wagon-Lits by the French group Accor, leading to investors receiving a 50% increase in the initial offering following Deminor’s intervention.


Deminor launches its voting and corporate governance rating activities for a number of leading European institutional investors.


First success in France (Banque Pallas Stern), where Deminor advised a group of bondholders in the restructuring process of the bank, leading to a recovery of 65%.


First success in Switzerland (Bank of International Settlements), where Deminor represented a group of minority shareholders in the framework of a compulsory buy-out of minority shareholders, leading to a 50% increase in returns for the investors.


First success in Italy (Banca Popolare di Milano), where Deminor represented a group of institutional investors with the objective of changing the corporate governance structure.

Deminor sells its corporate governance, voting and rating activities to Institutional Shareholder Services (ISS).


Deminor Recovery Services (“DRS”) becomes a separate business unit fully dedicated to investment recovery cases. The business evolves from advisory services to litigation funding.

First success in the Netherlands (Vanderhoop Bankiers), where shareholders advised by Deminor successfully recovered a proportion of their losses following the bank failure.


DRS launches several high profile cases in Europe in the aftermath of the financial crisis (Madoff, Fortis/Ageas, Lehman Brother bonds, …), leading to numerous and substantial recoveries for DRS clients.


First case in Asia is launched (Olympus, Japan).


New Deminor Group structure with the two separate business units becoming distinct legal entities: Deminor Recovery Services and ‘Deminor SA/NV’.

First success in the US (Fairfield/Madoff), where Deminor represented investors opting-out from the US class action.


New York office opens


Anti-Trust practice is launched.

First success in Asia (Japan, Olympus), where DRS clients reached an in-court settlement recovering 45% of their losses.


First success in Luxembourg (Herald Lux/Madoff), where more than 800 investors impacted by the Madoff fraud recovered the majority of their investments.


Hong Kong office opens

Successful conclusion of the Fortis case resulting in the largest settlement ever (at that time) for investors in Europe (EUR 1,3 billion settlement).

First success in the Cayman Islands (Zhaopin), where DRS clients sought an appraisal of the price offered under a compulsory buy-out, leading to a substantial recovery.


London office opens.

Commercial Litigation Funding practice is launched.


Hamburg office opens.


Madrid office opens.

Leading role in the EUR 1,4 billion Steinhoff settlement, the first of its kind in Africa and the largest ever in Continental Europe.


Stockholm office opens.

Enforcement practice is launched.