Litigation funding: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Create page. Source: The Treasurer, 40 Years Edition 2019, May 2019, p45 & ALF webpage http://associationoflitigationfunders.com/litigation-finance/) |
imported>Doug Williamson (Add link.) |
||
| Line 14: | Line 14: | ||
* [[Adverse costs award]] | * [[Adverse costs award]] | ||
* [[Arbitration]] | * [[Arbitration]] | ||
* [[Association of Litigation Funders]] | |||
* [[Litigant]] | * [[Litigant]] | ||
* [[Litigation]] | * [[Litigation]] | ||
Revision as of 20:42, 17 May 2019
Law.
Litigation funding is where a third party provides the financial resources to enable litigation or arbitration cases to proceed.
The litigant obtains all or part of the financing to cover its legal costs from a private commercial litigation funder, who has no direct interest in the proceedings.
In return, if the case is won, the funder receives an agreed share of the proceeds of the claim.
If the case is unsuccessful, the funder loses its money and nothing is owed by the litigant.
