At Grayfords, we believe there should be no reason why you should not have access to justice. We can help you with a fully indemnified and costs-funded solution whilst giving you the legal help and traction you need, without putting additional pressure on your business. And unlike other third-party litigation funds, we pride ourselves on having no third-party investors or insurance underwriting delays, which can be a substantial hindrance in high-value litigation.
Regardless of whether you are bringing a new claim, or perhaps have already begun a legal dispute but were unaware that you could still have it fully funded and insured, our litigation specialists have a reputable history of providing innovative financial solutions, from taking care of all associated paperwork to ensuring a smooth transition between law firms.
Our team of experts with will work with you to enable you to take your matter forward.
Frequently asked questions
How does funding work?
Essentially, all your legal costs are financed in return for a fee which you pay from the proceeds you recover if your claim is successful. We specialise in fully funded, automatically insured litigation. Unlike typical third-party litigation funding, there is no interest charge, underwritings or delays. A no-win, no-fee solution ensures you will not be charged unless your claim is successful. Non-debt clients typically pay a success fee represented as a percentage of the amount that is received.
Who should consider funding?
Businesses and individuals which are prevented from pursuing strong legal claims due to cash flow considerations, particularly as no cost is recovered until the dispute is settled. Litigation funding allows for the hassle-free bridging of this financial gap. Businesses and individuals that are sensitive to cash flow disruptions and would usually write off disputes should consider third-party funding options. If your legal budget is limited, third-party funding could also allow you to finance multiple claims. You may also wish to consider third party funding even if you are able to fund litigation because it will enable you to share the risk of pursuing a claim.
Who is the funding available to?
No win - no fee litigation is typically available to the claimant, and in some cases defendant, actions are subject to a review by counsel. Typically, litigation funders will take into consideration your case’s value, your lawyer’s cooperation, and what stage your case is in. This process of seeking external funding, and sharing the risks, will require you to present your case in a legal manner.
How long does it take to underwrite and insure my complex litigation in the High Court?
Unlike other solicitors who generally will have to first underwrite your claim, making it a long and complex process, our solicitors have the advantage of being able to offer you immediate cover on our delegated scheme with arguably one of the world’s leading litigation insurance providers. This means that your claim is not subject to additional upfront costs or delays involved in packaging the risk to an insurer, nor will you be in a position where you cannot get insured when a court hearing may be looming, meaning you may have to under settle or back out altogether.
If I am paying 'on the clock' in a litigious matter, can I transfer the matter to you, on a no win, no fee basis and acquire your exclusive insurance?
It is likely that subject to prospects remaining sufficient, that we can take over your existing litigation, fund all further work, all court, barristers and experts’ costs. We will also gladly give you initial free legal advice on the merits of bringing a claim against your existing Solicitor, should you require it, if they have failed to give you full and proper advice. If you want free legal advice and a review of your circumstances, either personally or in a commercial capacity, do not hesitate to contact us right away. Litigation funders will provide additional diligence and scrutiny to ensure that you receive advantages from their cost-benefit assessment.
What legal costs will I be responsible for paying if I lose or win my claim?
The general rule in litigation is that the unsuccessful party will be ordered to pay a proportion of the costs of the successful party. The court has a very wide discretion when making costs orders. It is incredibly rare to recover 100% of your costs, even if you wholly and fundamentally succeed in the litigation.
Is there a time limit for pursuing a claim?
Whilst the precise timeframe will depend on each third party’s terms and conditions, generally The Limitation Act of 1980 places the relevant limitation period for differing claims in relation to a contract at 6 years, after which they will be stature barred. Some claims may have a lower time limit and it is therefore important that you contact a lawyer as soon as possible. The limitation period will begin when the cause of action arises, thereby from the earliest time the legal proceedings could have been brought.