Third Party Litigation Funding
Therium is a leading provider of third party litigation funding for litigation and arbitration in the UK and internationally.
For many clients, pursuing a claim through litigation or arbitration is prohibitively expensive. Even for those with the ability to pay, the uncertainty over the total cost, the potential for the legal costs to escalate during the litigation and the uncertainty over when the case will conclude, make the prospect of committing to fund a claim unattractive. Furthermore, there is often also the risk of being ordered to pay the defendant’s costs in the event that the claim fails.
For many clients, pursuing a claim through litigation or arbitration is prohibitively expensive. Even for those with the ability to pay, the uncertainty over the total cost, the potential for the legal costs to escalate during the litigation and the uncertainty over when the case will conclude, make the prospect of committing to fund a claim unattractive. Furthermore, there is often also the risk of being ordered to pay the defendant’s costs in the event that the claim fails.
For some, these factors are sufficient to dissuade them from pursuing what would otherwise be a meritorious claim. It is this problem which third party litigation funding addresses. Third party litigation funding involves the litigation funder agreeing to pay some or all of the legal and other costs associated with the case in return for a share of the proceeds if the case succeeds. The litigation funding is also a complete transfer of the financial risk in pursuing the case; if there is no recovery at the end of the case, the litigation funder’s investment is lost and there is no debt to repay.