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Complete Litigation Funding Solutions
If you feel you have a litigation case, financial concerns shouldn’t limit your capacity to proceed.
- Slater and Gordon is uniquely positioned to assist you to access litigation funding.
- Slater and Gordon understands the contemporary litigation funding market and maintains strong relationships with a number of domestic and international funders.
- We can match your needs with appropriate funders to reflect the nature and size of your case and your appetite for risk.
- We can liaise with litigation funders on your behalf with the goal of securing the best possible terms.
Complete Litigation Funding Solutions facilitates litigation funding via a suite of options.
All are flexible, able to be individually tailored, and can be mixed depending upon the nature of each case. Funding comes in the following forms:
1. Third Party Litigation Funding
Depending on the size of your case and the risk-return equation, we will liaise with suitable funders on your behalf in order to secure you the best arrangement.
Litigation funders will typically agree to fund all of the professional fees and disbursements involved in a case in exchange for a commission ranging from 25%-40% of damages recovered. This funder will also usually agree to provide you with an indemnity against adverse costs – meaning that if your case is unsuccessful, it will meet any legal costs you are required to pay.
2. No Win - No Fee funding
Slater and Gordon is the pioneer in offering No Win - No Fee services. Under this arrangement, should your claim be unsuccessful, you will not be liable for any legal fees to Slater and Gordon. Should your case be successful, you will be charged for legal fees including a ‘success fee.’ A success fee is typically a percentage calculated by reference to the overall professional costs incurred, it is not calculated as a percentage of your settlement money. A detailed fee estimate is provided prior to commencing any legal action. Your eligibility for a No Win - No Fee arrangement is decided by three determinants:
- Your claim has legal merit.
- You are completely aware of any likely costs to prepare and run your case.
- You are fully informed of the risk of paying the other party’s costs of your claim is unsuccessful – which is a potential risk in any litigation.
Slater and Gordon is one of only a handful of firms that will conduct commercial cases on a No Win - No Fee basis. We also understand that cost is a key driver of decisions around litigation and will consider strategies aimed at containing costs including modified hourly rates, defined budgets and deferred fees.
3. Disbursement only funding
Disbursements are costs external to the legal costs of a law firm, such as barrister’s fees and expert witnesses fees. While your lawyer may be prepared to act on a No Win - No Fee basis, these external parties may not. If you’re unable to fund these yourself, we can arrange for you to access funds through a litigation funder.
A litigation funder will provide an amount of funding for disbursements in exchange for a commission payable upon success. Upon which time the total amount owed to the litigation funder plus the agreed commission will be repayable to the funder.
4. Adverse costs Insurance
It is possible to limit risks associated with litigation by taking out an adverse cost insurance policy. An adverse costs insurance policy means that if your case is unsuccessful and you are required to pay the other side’s costs, the insurer will pay those costs on your behalf.
Usually no up-front premium is payable for this insurance, but should you be successful it will be deducted from the compensation paid. If your case is unsuccessful, no premium will be owed. In order to obtain adverse costs insurance, we will need to prepare a detailed report on the merits of your case and your prospects for success. This may require Slater and Gordon to review your documents, speak with witnesses and prepare a detailed budget. Should you wish to go ahead with this, we can refer you to an insurance broker for advice on the terms of any policy proposal.
5. Blended Arrangement
In some instances your best solution may be to choose a combination of your own financial resources, litigation funding and adverse costs insurance to fund a case. You can choose the arrangement that matches your appetite for risk and your budget for recovering lost money.
So, am I eligible for a Funding Solution?
When it comes to assessing eligibility much will depend upon our assessment of your case followed by an examination of what funding options are available. Like us, third party organisations such as litigation funders and adverse costs insurers will look for; strong prospects of success, an opponent’s means to meet any judgment entered against it, and if likely damages are significant enough to justify the investment.
Slater and Gordon has expertise across a broad range of commercial dispute areas. So whether you need assistance with dispute resolution, flexible funding options or practical commercial solutions, we are confident we will be able to meet your needs.
Key Services in Business and Private Litigation include:
- Building and construction disputes
- Claims against professionals including financial advisors, stockbrokers, accountants and lawyers
- Commercial disputes
- Debt recovery
- Disputes with regulatory authorities
- Enforcement of obligations
- Intellectual property
- Planning, leasing and property
- Professional liability
- Professional negligence
- Recovery and compensation action
- Regulatory investigations and compliance
- Shareholder, director and investor disputes
- Trade practices
Get in touch today
Slater and Gordon has an unparalleled track record when it comes to innovation in litigation.
To discuss the appropriateness of your case with regard to litigation funding, why not speak with one of our senior commercial lawyers today?