Third Party Funding
Third Party Litigation Funding
Third Party Funding is becoming increasingly popular as the legal market develops.
In essence, Third Party Funding is the payment of your legal costs by a third party.
However, the funding is provided in return for a share of the litigation recoveries (being either a settlement with your opponent or through an award), or an agreed multiple of the costs advanced.
Such funding arrangements used to be considered illegal in the United Kingdom but are now accepted by the Courts and there has been an emergence in the market with several highly respected funders operating in the marketplace.
The funder will probably require an assessment of the merits of your case and also a detailed costs estimate.
Once funding has been provided, funders are not permitted to exert any pressure or control on how the case is progressed.