Litigation Funding: An Idiot’s Guide

Litigation: (Noun) A legal proceeding in court; a judicial contest to determine and enforce legal rights.

What is litigation funding?

Litigation funding, sometimes referred to as legal financing or third-party litigation funding is the process which allows a party to litigate without having to pay for the court proceedings. This could be because they cannot afford to or simply do not want to.

Litigation funding companies will take a party’s claim, evaluate the case and decided whether to accept, depending on if their case looks successful or not. The company in question will pay all of the costs of the trial in return for a cut of the proceedings if the case is won.

The History

Litigation funding is not a new thing. Third party litigation funding has been permitted in England and Wales since 1967, but until recently, was only available to insolvency situations. There has been evidence of litigation funding taking place as early as in ancient Greek times. Now, ligation finance has helped bring more lawsuits in the spotlight.

Who Should I Go To?

Woodsford Litigation Funding is a team of experts who specialise in large commercial claims in which the claimant may not able, or want to fund alone.

Woodsford are specialists in litigation funding and it is their primary focus, which is more than what can be said for some of the companies that provide the same service.

Woodsford will;

• Assess the chances of winning a case and the amount of damages that are due
• Share some of the risk, and the reward with lawyers

What Does Woodsford Look For?

• Claims that are £3 million and above in size
• Claims that are shorter rather than longer
• Parties that have ATE insurance