In the first article of a two-part series, Nick Rowles-Davies highlights the need for education surrounding litigation funding
Litigation funding is an effective tool that assists in bringing valid claims to court which otherwise may not have seen the light of day. To those seeking justice and with a meritorious case, it is often a lifeline.
After taking careful steps for a number of years in the UK, litigation funding is growing and being used more openly by law firms. Not only does litigation finance aid claimants, it also helps lawyers who, with a funded case, know they can see an action through to the end.
But there is still an issue around the lack of wider education of litigation funding—also known as third party litigation funding—in some corners of the legal world.
There are many law firms and litigators who have a good understanding of funding and what it can do for their clients, cases and indeed the law firm itself. There are others who have unfounded reservations about using the mechanism, and who are still playing catch-up as to its merits.
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