Third Party Funding
Litigation funding is an area of continual growth. As the Government makes increasing cutbacks to legal assistance, the private sector has been encouraged to fill the gap.
A case will appeal to a funder where:
- the claim is strong
- the potential recovery is at least six figures
- the opponent is ‘good for the money’
- the legal team is experienced
Typically, in return for taking the risk, the funder will want 25% to 40% of sums recovered from your opponent (whether at settlement or after a trial).
Invariably, the funder will insist that you take out ATE insurance to cover the risk of an adverse costs order against you (which the court may insist the funder is responsible for). If ATE is a requirement, the funder will usually pay for the premium as part of the facility offered to you.
At PowerLegal, we have built up connections with a number of litigation funders. Each has their own case preferences and we will be able to put you in touch with the right support for your case.
To find out how Powerlegal can help you, either call us on 0800 177 7752 or fill in the webform. You will then be contacted by one of our commercial litigation solicitors for a free initial consultation.