Third party litigation funding in the current economic climate
There are a range of funding options that can help resolve disputes in a cost-effective and risk averse way.
In the current economic climate, businesses are more than ever looking at ways to try to manage costs and maximise recoveries.
Businesses may have a number of potential claims which have not been pursued or have been put on hold due to budget constraints and the uncertain economic climate. These may include breach of commercial 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 third party litigation funding options that can help them to resolve these disputes in a cost-effective and risk averse way.
How can third party litigation funding help?
Commercial contract disputes
Businesses need to review contracts and contractual relationships and consider whether it may be appropriate, for example, to challenge non-performance of a contract or take steps to enforce the contract in the case of non-performance. These are difficult decisions particularly when resources may be stretched.
Shareholder and boardroom disputes
Similarly, the current difficulties caused by the economic climate 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 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 cost of pursuing litigation.
If you have a claim and would like to know more about our third party litigation funding service and flexible options for funding litigation claims, please contact our commercial litigation solicitors.