Litigation funding: Difference between revisions
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imported>Doug Williamson (Create page. Source: The Treasurer, 40 Years Edition 2019, May 2019, p45 & ALF webpage http://associationoflitigationfunders.com/litigation-finance/) |
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== See also == | == See also == | ||
* [[Adverse costs award]] | * [[Adverse costs award]] | ||
* [[After the event insurance]] | |||
* [[Arbitration]] | * [[Arbitration]] | ||
* [[Association of Litigation Funders]] | |||
* [[Funder]] | |||
* [[Litigant]] | * [[Litigant]] | ||
* [[Litigation]] | * [[Litigation]] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:Compliance_and_audit]] | |||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Latest revision as of 15:19, 12 August 2024
Law.
Litigation funding is where a third party provides the financial resources to enable litigation or arbitration cases to proceed.
The litigant obtains all or part of the financing to cover its legal costs from a private commercial litigation funder, who has no direct interest in the proceedings.
In return, if the case is won, the funder receives an agreed share of the proceeds of the claim.
If the case is unsuccessful, the funder loses its money and nothing is owed by the litigant.
