Clarion have teamed up with a third party funder to provide our clients with access to no risk litigation funding for appropriate cases.
In summary, the third party funder pays our fees in return for a percentage of the damages that our client recovers. That percentage ranges from 15% to 25%. In addition, the funding package also includes after the event insurance which insures our client against any adverse costs award in the event of a loss. The premium payable for this insurance is self insured and deferred until the case is concluded – essentially, if our client loses the case the premium for the after the event insurance is not payable.
Accordingly, in the event our client does not mind sharing 15% to 25% of the damages recovered and paying out of the damages the after the event insurance premium (which can be in the region of 12% of the amount of the other sides costs that the client is seeking to cover) to the third party funder, and the success fee to Clarion then the client can pursue a claim with absolutely no risk.
If you are thinking about bringing a litigation case but need further advice on funding options please call Clarion’s head of litigation, Simon Young, on 0113 246 0622 or at firstname.lastname@example.org for more information.
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