Third-Party Funding
What is Third Party Funding?
Third-Party Funding, also known as litigation funding or arbitration funding, is a financial arrangement where a third-party funder provides the necessary resources to pursue a legal claim. In exchange, the funder receives a portion of any financial recovery from the claim. This arrangement is particularly beneficial in high-cost commercial disputes where the claimant may lack the financial resources to proceed. TPF is non-recourse, meaning if the case is unsuccessful, the claimant typically owes nothing to the funder.Types of Services Offered by My Commercial Lawyers
At My Commercial Lawyers, we understand the complexities and financial burdens associated with pursuing legal claims. Our services related to Third Party Funding include:Case Evaluation and Funding Suitability
- Merit Assessment: We conduct a thorough evaluation of your case to determine its strengths and likelihood of success. This involves a detailed analysis of the legal claims, evidence, and potential defences.
- Funding Suitability: We advise on whether TPF is a suitable option for your situation, considering the potential benefits and drawbacks.
Fund Selection and Negotiation
- Identifying Funders: Leveraging our extensive network, we help you identify and approach reputable third-party funders who might be interested in financing your case.
- Negotiation of Terms: We negotiate the terms of the funding agreement on your behalf, ensuring you receive the most favourable terms possible. This includes discussing the percentage of recovery, control over litigation decisions, and other key aspects of the agreement.
Documentation and Disclosure
- Drafting and Reviewing Agreements: Our solicitors draft and review all necessary documentation, including the funding agreement and any required disclosures to the court or tribunal.
- Compliance: We ensure that all actions comply with relevant regulations and ethical standards, including adherence to the guidelines set out by the Association of Litigation Funders (ALF).
Case Management and Strategy Development
- Strategy Development: We work with you to develop a robust litigation or arbitration strategy tailored to your specific needs and objectives.
- Ongoing Liaison with Funders: We manage the relationship with the funder, ensuring regular communication and transparency about the case’s progress.
The Role of Solicitors in Third-Party Funding Matters
Initial Assessment and Case Preparation
- Merit Assessment: Our solicitors assess the merits of your case, evaluating the strength of your legal claims and evidence. This is crucial for determining the viability of TPF.
- Funding Suitability: We advise you on the suitability of TPF for your case, explaining the benefits and potential risks involved.
- Fund Selection and Negotiation: We help identify potential funders and negotiate the terms of the funding agreement to ensure the best possible outcome for you.
- Documentation and Disclosure: Our solicitors draft and review all necessary documents and ensure compliance with legal and ethical standards.
During the Dispute
- Case Management: We manage your case from start to finish, coordinating all aspects of the litigation or arbitration process.
- Ongoing Liaison with Funders: Our solicitors maintain regular communication with the funder, providing updates and addressing any concerns to maintain a positive relationship.
The Role of Barristers in Third Party Funding Matters
Providing Specialist Advice
- Legal Opinions: Our barristers provide detailed legal opinions on the viability of your case, helping to strengthen the funding application.
- Complex Legal Issues: They offer specialist advice on complex legal issues that may arise, guiding the strategy and approach.
Advocacy and Representation
- Court and Tribunal Appearances: Our barristers represent you in court or before arbitration tribunals, presenting your case, cross-examining witnesses, and making compelling legal arguments.
- Drafting Legal Documents: They draft key legal documents, including pleadings, submissions, and skeleton arguments, which are critical to the success of your case.
Why Choose My Commercial Lawyers?
At My Commercial Lawyers, we are committed to providing comprehensive support in disputes involving Third Party Funding. Our team of experienced solicitors and barristers work collaboratively to ensure that you receive expert guidance and representation throughout the entire process. From initial case evaluation to court or tribunal representation, we offer a seamless and integrated approach to help you achieve the best possible outcome. Contact us today to learn more about how we can assist you with Third Party Funding for your litigation or arbitration needs.Call Us +44 (0) 20 8087 4177
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Third-Party Funding
What is Third Party Funding?
Third-Party Funding, also known as litigation funding or arbitration funding, is a financial arrangement where a third-party funder provides the necessary resources to pursue a legal claim. In exchange, the funder receives a portion of any financial recovery from the claim. This arrangement is particularly beneficial in high-cost commercial disputes where the claimant may lack the financial resources to proceed. TPF is non-recourse, meaning if the case is unsuccessful, the claimant typically owes nothing to the funder.Types of Services Offered by My Commercial Lawyers
At My Commercial Lawyers, we understand the complexities and financial burdens associated with pursuing legal claims. Our services related to Third Party Funding include:Case Evaluation and Funding Suitability
- Merit Assessment: We conduct a thorough evaluation of your case to determine its strengths and likelihood of success. This involves a detailed analysis of the legal claims, evidence, and potential defences.
- Funding Suitability: We advise on whether TPF is a suitable option for your situation, considering the potential benefits and drawbacks.
Fund Selection and Negotiation
- Identifying Funders: Leveraging our extensive network, we help you identify and approach reputable third-party funders who might be interested in financing your case.
- Negotiation of Terms: We negotiate the terms of the funding agreement on your behalf, ensuring you receive the most favourable terms possible. This includes discussing the percentage of recovery, control over litigation decisions, and other key aspects of the agreement.
Documentation and Disclosure
- Drafting and Reviewing Agreements: Our solicitors draft and review all necessary documentation, including the funding agreement and any required disclosures to the court or tribunal.
- Compliance: We ensure that all actions comply with relevant regulations and ethical standards, including adherence to the guidelines set out by the Association of Litigation Funders (ALF).
Case Management and Strategy Development
- Strategy Development: We work with you to develop a robust litigation or arbitration strategy tailored to your specific needs and objectives.
- Ongoing Liaison with Funders: We manage the relationship with the funder, ensuring regular communication and transparency about the case’s progress.
The Role of Solicitors in Third-Party Funding Matters
Initial Assessment and Case Preparation
- Merit Assessment: Our solicitors assess the merits of your case, evaluating the strength of your legal claims and evidence. This is crucial for determining the viability of TPF.
- Funding Suitability: We advise you on the suitability of TPF for your case, explaining the benefits and potential risks involved.
- Fund Selection and Negotiation: We help identify potential funders and negotiate the terms of the funding agreement to ensure the best possible outcome for you.
- Documentation and Disclosure: Our solicitors draft and review all necessary documents and ensure compliance with legal and ethical standards.
During the Dispute
- Case Management: We manage your case from start to finish, coordinating all aspects of the litigation or arbitration process.
- Ongoing Liaison with Funders: Our solicitors maintain regular communication with the funder, providing updates and addressing any concerns to maintain a positive relationship.
The Role of Barristers in Third Party Funding Matters
Providing Specialist Advice
- Legal Opinions: Our barristers provide detailed legal opinions on the viability of your case, helping to strengthen the funding application.
- Complex Legal Issues: They offer specialist advice on complex legal issues that may arise, guiding the strategy and approach.
Advocacy and Representation
- Court and Tribunal Appearances: Our barristers represent you in court or before arbitration tribunals, presenting your case, cross-examining witnesses, and making compelling legal arguments.
- Drafting Legal Documents: They draft key legal documents, including pleadings, submissions, and skeleton arguments, which are critical to the success of your case.