Funding Litigation can be expensive and risky.
We have significant experience of working with individuals and companies to obtain litigation funding and thereby reduce or avoid the costs of paying upfront to bring a claim.
There are several options available. At Blake Morgan, as well as being able to offer "no-win no-fee" conditional fee agreements (CFA's) for our fees in suitable cases, we also have significant experience in obtaining third party litigation funding for clients. This can assist with payment of some of our fees (for example if we agree to act on a "partial", say 50/50, CFA, and/or with other costs of the claim such as Counsel's fees, court fees, expert fees and insurance cover.
The various options for funding litigation are explained more fully in our Guide to Litigation Funding here.
Shareholder Disputes – Acting for a director/minority shareholder in bringing a claim for unfair prejudice pursuant to s.994 of the Companies Act 2006 (and related allegations of unfair dismissal from employment) as a result of being wrongfully excluded from management by the majority shareholder. Our client's claim had merit but our client had no funding available to bring the claim. We worked with the client to obtain third party funding from a London-based funder. The matter settled on favourable terms within 5 months of obtaining funding.
Insolvency – Acting for a trustee in bankruptcy where there were no monies in the bankruptcy estate but investigations revealed a 'six figure' claim against two family members. Negotiations failed to secure repayment, so we agreed a no-win no-fee CFA with our client, as did counsel. ATE adverse costs insurance was also purchased. Litigation commenced: after eighteen months and a two day trial, we got judgment for our client. When we threatened to enforce the judgment, the defendants paid the debt in full.
Professional Negligence claims – Acting under a CFA for a group of individuals in a claim against a London firm of solicitors for negligent advice regarding stamp duty liability. We obtained a positive "Early Neutral Evaluation" which we are enforcing against the defendants.
Related Knowledge & Resources
Litigation can be very expensive and the English courts have embraced 'no win no fee' which provides access to justice for those who cannot fund litigation. Our expert Nicola Diggle explains how Litigation funding is now mainstream in the UK.