Will Litigation Funders only consider funding all legal costs?
Even with the world events in 2021, litigation funding has continued to be a fast-growing sector. More investors are placing funds into the market every day, which has resulted in more people being helped with their claims through the financial support and dissipation of risk that litigation funders provide.
However, even with the fast growth in this market there are still many misconceptions and misunderstandings around what litigation funders do and how they work.
One common misconception is regarding which portion of a claimant’s costs the litigation funders will offer to fund. Some claimants are concerned that litigation funders will only consider funding a case if it is for all the legal costs (i.e. all or nothing). However, this isn’t the case.
Whilst it may be the case for some litigation funders, it is not the case here at Apex Litigation Finance. We take a flexible view of the needs of the claimant. We are interested in providing assistance in funding cases of all sizes. However, we have particular expertise when it comes to funding low to mid value cases of between £100k and £10m in value.
We are able to provide funding for all or part of the costs of an action depending on the needs of the claimant. Some claimants are able to fund only the disbursements and/or a percentage of the legal fees, in which case Apex is able to provide funding to cover the shortfall. As long as the claimant provides the funder with a clear indication of their requirements and concise budgets, through their retained legal team during the application stage, then it is likely that we will be able to make a mutually beneficial offer.
It is important to note, that whether we fully fund, or part fund the costs of the litigation, we will have no control over the case. We do not have the right to make the claimant, accept or decline a settlement offer. We will make recommendations and/or share our advice. However, it is the claimant that will retain ultimate control of their case.