Litigation Funding Birmingham
Legal Claims and Awards Funding
Our company specialises in providing litigation funding solutions for legal claims and awards finance. We understand the financial challenges individuals and businesses face when involved in legal matters, and we are here to offer support. Whether you need financial assistance to pursue a legal claim or require litigation funding to cover the costs associated with an award, our team is dedicated to helping you navigate the complexities of the legal system with peace of mind. By offering flexible and tailored financial solutions, we aim to alleviate the financial burdens that often accompany legal disputes and ensure that you can access the justice and compensation you deserve. Trust us to be your partner in securing the financial resources you need to pursue your legal objectives.
Legal Fees Litigation Funding
Our expertise lies in offering a comprehensive array of financial litigation services and customized loans that cater to the unique requirements of our clients. From supporting individuals and businesses embroiled in intricate legal battles to providing legal fee loans that ease the financial strain of seeking justice, our dedication is to provide inventive solutions and individualized assistance throughout the entire process.
Collective Actions
Our organisation offers comprehensive financial support and backing for individuals and groups involved in legal class actions. Our dedicated team works closely with our clients to provide funding for legal proceedings, ensuring that they have the resources needed to navigate complex legal processes and seek justice. With our expertise and experience in this field, we strive to empower our clients and enable them to pursue their legal rights with confidence and determination.
Individual Legal Litigation Funding
Legal litigation funding offers individuals financial support to cover legal expenses throughout the duration of a lawsuit. This type of funding provides individuals with the financial resources needed to navigate through legal processes, pay for legal representation, and cover other associated costs such as court fees and expert witness fees.
By securing legal litigation funding, individuals can level the playing field and have access to the necessary resources to pursue justice without worrying about the financial burden. It allows individuals to focus on their case and legal strategy without being hindered by financial constraints, ensuring a fair and just legal process.
Corporate Commercial Litigation Funding
Litigation finance has typically been associated with circumstances where the individual litigant does not have access to the funds necessary to pursue the case. Increasingly however corporate and commercial claimants are using litigation finance to remove the financial burden from the balance sheet.
Litigation Finance can allow insolvent estates to bring claims when there would clearly be an absence of funds .
There are options for commercial clients to obtain litigation finance where there is a lack of working capital where the funder assesses the proposed or ongoing claim as an asset.
Law Firms
Litigation Funders are increasingly providing finance directly to law firms. As for other corporate and commercial clients, litigation finance can provide the law firm the working capital necessary to take on litigation cases where the client cannot secure the costs. The law firm is enabled to draw on litigation funds to operate for cases whilst acting for clients on a contingency basis.
The finance is non recourse as the firm repays the funds from the proceeds of the firms realised contingency work.
Repayment can be structured to manage staggered repayment, enabling the law firm to retain a proportion of the proceeds from successful cases, protecting against cash flow pressures and managing the financial risk to the firm. The retention of working capital also allows for growth, taking on more cases and building revenue.
Portfolio funding to law firms allows for operating multiple cases through a single facility. This could involve pursuing a number of separate claims simultaneously or multiple claims on behalf of one claimant. As the risk to the funder is spread across the portfolio the cost of the investment may be reduced and may allow for a lower likely success threshold across the portfolio.
Litigation funders are able to provide finance against ongoing litigation cases. This includes working with law firms managing clinical negligence and personal injury claims working with clients on conditional fee agreements.
We provide comprehensive litigation funding for Birmingham, located in the the midlands, the very heart of England. Our services encompass all financial aspects of legal funding not only for Birmingham but also for the entire United Kingdom. Whether you are an individual or a business seeking support in your legal cases, we are committed to offering tailored funding solutions that meet your unique needs and ensure that you have access to the resources necessary to pursue your case effectively.
FAQs: Litigation funding in Birmingham
What is Litigation Finance?
Litigation finance is a form of funding whereby a third party provides the financial resources required to pursue litigation or arbitration in return for a proportion of the proceeds of a successful claim.
Further explanation of the financing types below:
Non-recourse: If the case loses, the funder typically loses its investment, and the client owes them nothing.
Success Fee: If the case wins, the funder is repaid their costs plus a return, usually calculated as a percentage of the damages (e.g., 20–40% or more) or a multiple of the invested capital.
How is Litigation Finance paid for in Birmingham?
The third-party funders share of the proceeds of a successful case is negotiated with the litigant at the outset. The return to the funder will be calculated as a % of the damages recovered, by multiples of the amount advanced or a combination of the two. The funder may also choose to charge interest on the amount provided throughout the investment period.
When should I apply for Litigation Finance?
Litigation funding can be sourced at any point during the process however it is advisable to apply as early on in the process as possible to manage cost and to be reassured that your particular circumstances are suitable for funding.
What is After the Event (ATE) Insurance?
ATE insurance in Birmingham can be purchased from and through funders to protect clients from the risks of adverse costs, own side costs and disbursement costs. This can be purchased as a stand alone package or as part of an overall funding solution.
ATE insurance has the specific function of insuring against the risk of having to pay the opponent's costs in the event of an unsuccessful claim. As with any insurance policy, the terms of an ATE policy will need to be carefully considered and scrutinised to understand coverage, exclusions and potential breaches of policy conditions.
Can group actions be covered?
Yes. Novo Modo Litigation funders Birmingham will assess the merits of group cases and can provide options to meet this need.
What if the case needs more funding later?
Litigation funding agreements can be amended, or "top-up" funding can be arranged if the case becomes more complex than anticipated.
Why use Novo Modo Birmingham
As brokers, we offer litigation finance and financial loan services to clients in many commercial environments and for all aspects of business growth and development.
We are able to facilitate access to working capital from across a panel of over 150 lenders with a broader scope than traditionally taken by funders focussing solely onlaw firm and litigation financing products.