Pursuing litigation can be an expensive process. The costs of solicitor, barristers and experts can escalate quickly. Litigation funding provides a means of meeting such costs through third parties.
In its traditional form, litigation funding involves a specialist funder financing some or all of a claimant's legal fees. If the claim is successful, the funder will recover their original investment plus a success fee. If the claim is unsuccessful, the funder will lose its investment.
At H&J, instead of 'funding' claims we purchase them outright for immediate money and/or a share of the proceeds. We then litigate the claim ourselves, taking the expense and risk.
We usually structure assignments so that we share the proceeds of the claim with the assignor – therefore our interests are aligned throughout the litigation. We all want to get the best result, as quickly and efficiently as possible. Our introduction to the litigation will help to achieve that.
Our innovative model of purchasing claims often allows us to take on claims deemed to pose a higher risk that funders and purchasers may turn down.
We are happy to speak to anyone with a claim that they are looking to sell. But we specialise in buying claims from insolvent companies and individuals. We also have experience of purchasing claims from solvent companies, insurance policyholders and executors of probate estates.
The ancient rules of champerty & maintenance prevent the assignment of causes of action in certain circumstances. The Insolvency Act 1986, however, has a specific carve-out which permits the assignment of claims from insolvent companies and individuals.
There are also certain circumstances in which solvent companies and individuals will also be permitted to assign claims. The courts are increasingly taking a more relaxed approach to assignment to permit greater access to justice. Drop us a line about your claim and we will assess whether we would be able to take an assignment.
Yes, we do. We are experienced in all forms of dispute resolution – litigation, mediation, arbitration and also adjudication (of construction claims).
Yes, we do – although this needs to be assessed on a case by case (and jurisdiction by jurisdiction) basis.
No, H&J will meet all costs associated with the litigation – including the fees of lawyers and experts. We also have a team of expert litigators in-house which helps to keep legal costs down and therefore maximise recoveries.
We usually structure our assignments such that the transferor retains a right to a share in any net proceeds. If the claim is unsuccessful there will be no net proceeds to be shared with the transferor – however, the transferor will retain any upfront premium paid by H&J for the assignment. Additionally, the transferor will not have incurred any expenditure in pursuing the claim.
The standard position in litigation in England and Wales is that the ‘loser’ pays the reasonable legal costs of the ‘winner’. As we take an assignment of your claim it is us, not you, who is party to the proceedings and therefore on the hook for any adverse costs award.
