A Thomas Miller Company
Insurance is an essential ingredient as the global expansion of litigation funding continues
Folllowing the publication of the Abu-Dhabi Global Markets (ADGM) Courts set of Litigation Funding Rules 2019, Matthew Amey explores whether such guidelines can act as a catalyst for the introduction of funding into different juristictions in the absence of what we would argue is a fundamental building block essential to any new funding markets where cost-shifting applies. Namely, adverse costs insurance (or ATE insurance).
The selling of Arbitration Awards – Are your clients aware of their options?
Litigation funding is now well understood as an option for Claimants pursuing international arbitration disputes to remove the financial cost burden of paying legal fees and expenses. But not all clients are aware of their ability to monetize all or part of their damages, pre or post award, to free up funds that could take some time to recover from their opponent. Click here to read James Delaney‘s latest article on the selling of arbitration awards and the types of arrangements available.
Is your pitching toolbox up to date?
Discussing basic litigation finance options is no longer the winning play that it used to be, yet many firms continue to take an incredibly one-dimensional approach when talking about alternative funding arrangements at the pitching stage.
Increasingly, clients considering bringing an arbitration are encouraging firms to take an innovative approach to how they charge their fees. The typical response is limited to what the law firm can provide alone, i.e. a fixed fee, or traditional litigation funding but, with a little thought, there is so much scope to design something far more advantageous to both the client and the law firm.
Standing out from the crowd requires constangt evolution. Creating a bespoke solution for the client is shaped upon their tolerance for risk, their liquidity position and, importantly, their ultimate goals in the arbitration requires knowledge as to how these arrangements can be structured. But this need not take a lot of lawyer time. With some basic background details, and given just a few hours, we can put together various structural examples that can be incorporated into your pitch, equipping the lawyer with the tools they need to deliver a cutting-edge and tailored proposal.
