Restitution have invested in, and received applications for litigation funding for commercial claims ranging from multi-million to less than £100k. As the costs of pursuing matters through the courts or arbitration continue to increase, the appetite for seeking alternative litigation funding arrangements by litigants is growing in the UK. With our head office in Edinburgh, we are firmly established in the Scottish market and are looking to expand our offering to England and the rest of the UK.
The basics – what is litigation funding?
We fund some or all of the legal fees and/or expenses for a huge variety of disputes, including commercial contract, shareholder, professional negligence, warranty and banking matters. We only agree to fund meritorious claims. At the outset we agree the funding parameters, and enter into a Funding Agreement with the litigant and their solicitor.
If the claim is unsuccessful, we walk away, without any further liability to the litigant. Essentially this is non-recourse funding. If ultimately the claim succeeds and a financial settlement is achieved, we receive a pre-agreed share of any award or damages recovered.
The benefits
For litigants, as well as the obvious financial benefit, the backing of a reputable funder sends a very powerful message to an opponent. It says that having carried out extensive due diligence the funder is confident of success and has backed the claim.
For solicitors, it allows a way to change their own exposure and recover legal fees, together with providing a further means of providing access to justice, supporting their clients and allowing cases to progress through the court system.
What helps us to consider applications
Before making a funding offer, we will carry out very thorough due diligence in order to allow us to make an investment decision. It is useful for us to be provided with as much information at the outset. This might include:-
Summary of the case;
Amount claiming;
Estimate of level of funding required;
Counsel’s Opinion, if available;
Record, or draft writ;
Prospects of recovery from the defender in the event of success;
If you wish to discuss a case, please in the first instance contact Frances Sim on 07547 824773 or email Frances@restitutionltd.co.uk.