‘Third party funding has become a feature of modern litigation.’ - Lord Justice Tomlinson
When Lord Justice Tomlinson included these ten words in a Court of Appeal judgment, many commentators saw his judicial mark of approval as something of a watershed. Third Party Funding or TPF, where funders invest in, but do not control, legal proceedings with which they have no connection, has grown from humble beginnings 10 years ago. It is now truly a feature of the commercial disputes landscape and, potentially, a key weapon in the armoury of claimants.
Our involvement with TPF started when it was very much still in its infancy, when we represented the first party to use it in a claim before the Competition Appeals Tribunal. The proceedings were an example of a true ‘David and Goliath’ case, where TPF was the lifeline that allowed our client to triumph.
TPF has developed significantly since then. The benefits that it can provide now attract ‘Goliaths’ involved in litigation or arbitration as much as ‘Davids’. Third party funders offer considerably more options, like portfolio funding, pre-judgment monetisation of claims and ATE insurance for own-side costs. Equally, the range of disputes in which, and the parties for whom, TPF is available has grown exponentially.
Our early and continued involvement with TPF sets us apart from other law firms. As TPF has developed, we have consistently been at the forefront of that development. Recently, we have again demonstrated our expertise and ability to innovate by entering into a portfolio agreement with Burford Capital, the world’s largest third party funder. This agreement, and our close relationship with the other members of the Association of Litigation Funders, means that we are in an unrivalled position to address your funding needs.