Litigation funding can help control costs & add value to the litigation process, says Sergei Purewal
- The growth and establishment of litigation funding.
- Paying for litigation costs and managing risk.
If in a particular erudite game of trivial pursuit, about a decade or so ago, you were asked whether litigation funding by a third party in the UK was a part of the mainstream consideration for litigation costs, your answer almost definitely would have been: ‘What is third party litigation funding?’
Litigation funding, and its emergence as a professional market, developed outside of the UK in a common law jurisdiction largely within the insolvency sector. In many civil law jurisdictions, an outright assignment of a claim to a third party has always to an extent been legally possible. Despite some corners of the legal profession believing otherwise, the days of applying the principles of maintenance and champerty have not gone away. There are still checks and balances in place when it comes to funding arrangements deemed to be contrary to public policy,
