Disputes will arise in the course of day-to-day business, but if they lead to a litigation claim it can significantly impact a business – affecting finances, resources, reputation and growth. As a claimant, litigation funding (or litigation finance) can strengthen your position and enable you to mitigate the potential negative impacts of managing a dispute.
The use of litigation funding, and particularly third-party litigation funding, has grown significantly in the UK and Europe, and is set to continue. There are now a number of paths open to a claimant to manage the costs of their legal claim and we are seeing innovations in costs cover to provide more bespoke solutions.
So, as a claimant what litigation funding options are open to you? How do the different packages work? And what are the pros and cons of each option? And although generally only available to claimants, are there any situations in which litigation funding might also be available to defendants?
Our new guide, 'Litigation funding unpacked', will help you better understand the different funding options and types of providers in the market. It cuts through the detail of this complex area to provide practical pointers on:
- the litigation funding options for claimants and, potentially, defendants;
- what can be funded under each option and how the arrangement works – including what to consider;
- what to consider when choosing a litigation funding provider; and
- how to approach a litigation funder and present your claim.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.