The Importance Of Litigation Funding

Jan 24, 2022

There has been a rapid evolution and growing acceptance of litigation funding in recent years. The interesting thing about this rapid evolution is that it shows no sign of slowing down. This is fantastic news as it means that the social justice value of a third-party funding litigation is gaining momentum.

One of the core functions of litigation funding is the support provided to an ‘impecunious claimant’. By an ‘impecunious claimant’ we mean a person or business that has a genuine claim but is unable to afford the costs to pursue justice. Litigation funding allows those claimants to seek justice in a way that that would otherwise not be available to them.

There is no getting away from the fact that litigation in the UK is extremely expensive and laden with risk. The provision of third-party funding allows those claimants that have meritorious claims to pursue their case without the fear of financial loss or ruin.

Another benefit provided by litigation funders is that of experience of the litigation process and it’s pitfalls. Litigation funders are able to offer a huge amount of insight and experience to their clients, thus providing additional support in a stressful time.

There is an economic cost to litigation funding, but by sharing in the proceeds of a successful claim, this can be managed. For example, here at Apex Litigation Finance we pre-agree our fee due when a case is successfully concluded. This is agreed by you and advised on by your solicitors. However, it is worth remembering, that if the case is lost we will lose our investment. There will be no monies owed by you in this outcome.

The importance of litigation funding is growing all the time and it is a fast-moving sector, as is the investment in legal assets in general. If you’d like to know more about litigation funding for your case, or you would like to explore the benefits of investing in litigation funding, contact us here for more details.

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