The Funding Process
On a request for funding, Therium examines the merits of the case, the value of the claim, the ability of the defendant to meet any judgment or order made against it and the expected cost of completing the case.
Therium will wish to see legal advice from your solicitors or counsel on the strength of the claim and is likely to want to meet you and your lawyers to discuss it. If the case is suitable for funding, Therium will wish to agree a project plan and budget for the ongoing conduct of the case through to conclusion.
If Therium agrees to fund the case, Therium will pay the costs (including solicitors’ fees, counsel’s fees, expert witness costs, payment of any security for costs ordered and court/tribunal fees) against a budget agreed at the outset with your solicitors.
Therium will wish to see legal advice from your solicitors or counsel on the strength of the claim and is likely to want to meet you and your lawyers to discuss it. If the case is suitable for funding, Therium will wish to agree a project plan and budget for the ongoing conduct of the case through to conclusion.
If Therium agrees to fund the case, Therium will pay the costs (including solicitors’ fees, counsel’s fees, expert witness costs, payment of any security for costs ordered and court/tribunal fees) against a budget agreed at the outset with your solicitors.
Therium also accepts the financial risk from cost overruns up to a pre-agreed cap agreed with your solicitors. As part of the funding, Therium may also pay any premium required for After-The-Event (‘ATE’) insurance which will provide cover in the event that you are found liable to pay some or all of the defendant’s costs.
In return, the costs paid by Therium are reimbursed in full and in addition Therium will usually seek between 20% and 45% of the proceeds of the case, a multiple of the funding or a combination of the two, the level depending upon a range of factors including the size of the claim, the level of costs involved and the duration of the case.
In return, the costs paid by Therium are reimbursed in full and in addition Therium will usually seek between 20% and 45% of the proceeds of the case, a multiple of the funding or a combination of the two, the level depending upon a range of factors including the size of the claim, the level of costs involved and the duration of the case.
Even after funding has commenced, your solicitors and counsel will continue to advise on the case and control of the litigation remains with you, subject to express obligations set out in the funding agreement (e.g., to conduct the litigation reasonably in accordance with legal advice). As Therium only recoups its investment and makes a return from any funds you receive from the defendant, Therium’s interests are closely aligned with your own as claimant.