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Third party litigation funding and the impact of COVID-19

In the current economic climate caused by the COVID-19 pandemic businesses are more than ever looking at ways to try and manage costs and maximise…

In the current economic climate caused by the COVID-19 pandemic businesses are more than ever looking at ways to try and manage costs and maximise recoveries. Businesses may have a number of potential claims which have not been pursued or have been parked due to budget constraints. These may include breach of contract claims; shareholder and board room disputes, professional negligence claims, and other business disputes.

Many business owners are not aware that there are a range of innovative and flexible commercial litigation funding options that can help them to resolve these disputes in a cost-effective and risk averse way.

Contract disputes

Businesses need to review contracts which they entered into pre-COVID and consider whether it may be appropriate, for example, to challenge non-performance of a contract or take steps to enforce the contract. These are difficult decisions particularly when resources may be stretched.

Shareholder and boardroom disputes

Similarly, the current difficulties caused by the pandemic can often exacerbate tensions between business owners and highlight poor performance or where one person is not pulling their weight. Again it can be difficult to grasp the nettle and resolve these issues when resources are focused elsewhere and keeping the business afloat is the priority.

Professional negligence claims

There may also be instances where you feel you have been let down by advice provided by professionals including solicitors and barristers, financial advisers, insurance brokers, surveyors and architects.

Innovative and flexible funding arrangements

Where you have a strong claim we can help you explore innovative and flexible funding arrangements. Companies can leverage meritorious claims as a potential asset and to finance them off balance sheet with the use of third party litigation funding. Individuals can also benefit from commercial litigation funding by using this combined with after the event insurance to alleviate some of the risk and costs of pursuing litigation.

If you have a claim and would like to know more about third party litigation funding and flexible options for funding litigation claims please contact Damian Carter on 0161 214 0593 or email damian.carter@weightmans.com

 

 

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