Cormac Leech, CEO of AxiaFunder, outlines the growing need for litigation funding & how it can bridge the funding gap
- Litigation finance: changing the face of the commercial litigation landscape.
- COVID-19 pandemic: an opportunity for growth.
- Supporting practitioners: cash flow management.
Litigation finance is becoming an increasingly important part of the commercial litigation landscape. Litigation funding can be seen as a response to a growing need for finance by claimants—particularly given the growth in both the number of cases and the cost of litigation. However, rising costs of litigation have made access to justice extremely expensive—and in many cases inaccessible—for many individuals and businesses.
Litigation funding platforms are providing an alternative financing solution, to often underfunded SMEs, to ensure that the cost of bringing a case to trial does not deter businesses and individual’s businesses from accessing justice. By applying a stringent approach to assessing cases that are of sound legal merit, there is an opportunity for alternative lenders to enter the space and bridge the funding gap by financing cases that would otherwise go unheard in the English courts.
