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Third party (none party) funding involves an organisation not involved in the dispute agreeing to finance all or part of the legal and other costs of the litigation in return for a fee. It differs from conditional fee agreements and damages based agreements in that it does not require you to pay expenses such as barrister’s fees throughout the duration of your case. Third party funders will fund both your legal fees and additional expenses on an ongoing basis. Third party funding is not a loan if the case is unsuccessful any money paid out by the third party does not have to be repaid.
Stephensons has significant experience in legal expense and dispute funding. We have access to the leading insurers and funders; we even act for those companies in a claims handling capacity.
Stephensons has formed an alliance with Augusta Securities Ltd (“Augusta”) to offer a financing solution which gives financial support to the person bringing the claim (Claimant). This option delivers a number of benefits to you including:
This funding is available for a wide range of commercial litigation cases. Your case will need to be assessed by Stephensons’ commercial team and if it meets our criteria and the person/company who you are suing has a strong ability to pay it is likely this funding option will be approved.
The third party finance company, Augusta will agree to pay part (or in some cases all) of a claimant's legal fees if your case is eligible, in return for an agreed proportion of the settlement or award of damages. Additionally, clients using this finance option will also qualify for After the Event insurance with the option to hedge the majority of your contribution to the matter.
Call us today to find out how we could assist you with your commercial dispute and to discuss whether this funding option would be appropriate to your circumstances. For further information please contact us on 01616 966 229.
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