The following Dispute Resolution practice note produced in partnership with Rosemary Ioannou of Vannin Capital provides comprehensive and up to date legal information covering:
Dispute resolution funding is a simple financing arrangement usually in the form of a funding agreement whereby the funder agrees to pay the client’s legal fees in bringing a claim (usually including experts, outside counsel and disbursements) in accordance with an agreed budget. While it is commonly referred to as litigation funding, such funding is now also widely used in arbitration—both in the context of commercial arbitration and public international law.
Dispute resolution funding can be structured in various way. In the normal course it is provided on a fully non-recourse basis, ie if the claim is unsuccessful and there is no damages recovery from the claim, the funder will lose its investment and make no return—the client will not have to pay anything and the funder has no recourse to the client for its lost investment.
Conversely, if the claim successful the funder will be entitled to receive repayment of its investment and a return on that’s investment from the damages that are ultimately recovered from bringing the claim, see Practice Note: Litigation funding process— Stage 4—terms agreed including period of exclusivity.
This will depend on the financial position of the claimant:
impecunious claimants—the answer is obvious: dispute resolution funding enables claimants who would otherwise not have been in a position
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