At LB Litigation Resolution we recognise that litigation can be an expensive, uncertain and worrying undertaking. Understandably clients are concerned about spending significant sums in pursuing their claims and wary of liability for opposition costs.
Litigation funding enables corporate or individual clients to have the costs of the litigation funded by a third party. In the event of the claim being successful, the client agrees to pay us, and the Funder an agreed proportion of any award. The types of cases suitable for funding are as follows:
• Professional Negligence claims
• Insolvency Act claims
• Breach of Contract
• Intellectual Property (including trademark and copyright disputes)
• Code 9 Tax investigations by HMRC
• Class actions
• Banking litigation
• Pensions Mis-selling
How do I know if my case is relevant for funding?
Your case will be evaluated by us upon receipt of all relevant information. The following headings provide a broad overview of the elements that are considered by Funders who are assessing a potential claim:
Chances of success?
There must be a strong legal case on both liability and the value of the claim.
Can the potential defendant satisfy the claim?
There must be assurances for the Funder that if the Court finds in your favour that the claim and costs are recoverable from the other side.
Is the case financially suitable for funding?
The Funders with which we work most frequently, usually consider cases where the potential award is more than £500,000. However, if your individual claim is valued at less than that, but you are one claimant in a class action, then we they consider aggregating your claim on that basis.
Due to our ability to source different levels and sources of litigation funding, we may be able to consider cases that fall short of the above threshold providing that we consider that the claim is financially viable, has a good chance of success and that the defendant is in a position to settle the claim swiftly.
Review of evidential file for litigation funding
Following completion of the initial investigative work and collation of the primary materials, the draft file is subjected to a comprehensive and detailed review by a leading QC, for the purposes of ensuring Quality Control: this is done with a view to maximising the viability of the submission to other lawyers and litigation funders. His experience is invaluable in identifying:
- deficiencies in the evidence;
- further potential evidence;
- other legal issues that may arise
This stage is essential to ensure that costs are not wasted during the complex and technical process of seeking to secure litigation funding upon most beneficial terms available for our clients.
How do I move forward with this?
Start by calling us to arrange an initial consultation: we will provide you with a careful analysis of the funding issues that seem to arise in your case, including the initial costs prior to obtaining litigation funding. If your case is suitable and you wish to proceed further, then we will invite you to provide more details of your case. We will invite you to sign the Terms of Engagement that will form the contract between us.
Once we have conducted a more detailed assessment of the case we may engage a Solicitor and/or a Barrister to provide a legal opinion for provision to potential Funders in support of your claim. We will keep you informed regularly of the progress of your case.
Upon the successful resolution of your matter, the Solicitors acting for you will then deduct the amounts due to the Funder, and then apportion the balance to you.
All matters discussed are kept completely confidential.
If you would like to find out more about Litigation Funding, then please do not hesitate to contact us today!